Integrum Energy Infrastructure files draft papers with BSE for SME IPO

Integrum Energy Infrastructure Limited has filed its draft red herring prospectus (DRHP) with the BSE for an SME IPO. The company is a major provider of renewable energy solutions and is aiming to raise funds through an initial public offering. According to the DRHP, the IPO comprises a fresh issue of up to 49.50 lakh equity shares and an offer for sale (OFS) of up to 5.40 lakh equity shares by promoters Shyam Sundar Maheshwari and Shipra Goel.

An Offer for Sale (OFS) is a way for major shareholders, like promoters, to sell their shares to the public through the stock market. It allows them to reduce their stake in a company without issuing new shares. Under OFS, Maheshwari will sell 3.56 lakh shares, and Goel will dilute 1.83 lakh shares of the company.

Promoters Anand Lahoti, Shyam Sundar Maheshwari, Puneet Goel, and Shipra Goel together hold 1,49,64,970 equity shares, representing 94.83% of the company’s issued and paid-up equity share capital.

The funds raised from the IPO will be invested in its subsidiary, Integrum Green Assets Private Limited. This investment will be used to construct a 2-megawatt peak (MWp) solar plant and supply energy to C&I customers through a long-term Power Purchase Agreement. The remaining funds will be used to fund working capital requirements and for general corporate purposes.

Beeline Capital Advisors Private Limited will be the booking running lead manager to the issue, whereas Integrated Registry Management Services Private Limited will be the registrar.

Integrum Energy Infrastructure Limited creates and provides renewable energy solutions to various clients, deploying, in particular, solar, wind, and hybrid installations that enable customers to minimise both their energy costs and carbon footprints. The company is based in Bengaluru and was founded in 2021. The subsidiary arm of the company - Integrum Green Assets Private Limited, is currently working on a solar power project in Karnataka.

The company reported a revenue of ₹23,324.07 lakh, an EBITDA of ₹2,075.57 lakh, and a PAT of ₹1,515.19 lakh as of March 31, 2024.