Oneindig Technologies IPO

Incorporated in 2016, Oneindig Technologies provides Engineering, Procurement and Commissioning (EPC) services in the solar energy sector, along with complete turnkey solar solutions and Operations and Maintenance (O&M) services.

The company’s projects include residential rooftop, commercial and industrial (C&I) rooftop, ground-mounted solar projects and solar water pumps for both private and government customers. Apart from EPC services, the company also supplies Solar PV Modules, solar inverters, solar pump controllers, energy storage systems (Li-ion/Lead Acid), ACDB/DCDB, LT/HT panels, wires and cables. It also operates as an Independent Power Producer (IPP) through Power Purchase Agreements (PPAs).

The company has developed, executed and commissioned 17 major ground-mounted projects with a total project value of more than ₹19 crore. It has also installed more than 500 solar water pumps across Haryana and the Union Territory of Jammu and Kashmir. As of the date of the RHP, the company had 58.40 MW of operational project capacity, while 52.08 MW of contracted projects were under construction and another 6.32 MW of awarded projects were under construction. Its product portfolio includes WattSun and WattEdge photovoltaic modules with capacities ranging from 325–570 Wp, supported by 25-year linear performance warranties. The company also offers on-grid inverters ranging from 1.5 kW to 110 kW, hybrid inverters, PCU/UPS products under the Hawk and Dove series, Vajra series solar tubular batteries, lithium solar energy storage systems, in-house designed solar mounting structures, solar DC/AC pumps and controllers, and aluminium rails and clamps used in solar structures.

As per the RHP, Oneindig had a total order book of ₹205.75 crore. Of this, ₹56.63 crore had already been billed, while ₹148.59 crore was pending for execution. The order book includes projects related to solar plants under PPAs, solar pumps and ground-mounted EPC projects, mainly across Haryana, Rajasthan and Uttar Pradesh. Among the business verticals, B2G revenue recorded the strongest growth during this period compared with B2B and B2C. Geographically, Uttar Pradesh, Haryana and Jammu & Kashmir were the key revenue contributors, accounting for 46.1%, 26.3% and 21.1% of revenue, respectively, during the10MFY26. Its largest customer contributed 19.66% of revenue during the 10MFY26, compared with as much as 62.19% in FY25.