Regreen-Excel EPC India Files for Rs 350 Crore IPO

Ethanol plants manufacturer Regreen-Excel EPC India Ltd has filed for an IPO with Sebi, aiming to raise Rs 350 crore through an equity share issue and an offer-for-sale by promoters. The funds will be used for debt payment, bank guarantees, and corporate purposes. The company has executed 113 projects and has an order book worth Rs 3,452 crore.

Ethanol plants manufacturer Regreen-Excel EPC India Ltd has submitted preliminary documents to capital markets regulator Sebi for an initial public offering (IPO) to raise funds.

The IPO includes a fresh issue of equity shares worth Rs 350 crore and a secondary offer-for-sale (OFS) of 1.14 crore equity shares by the company's promoters, according to the draft red herring prospectus (DRHP).

Proceeds from the fresh issue will be used to repay debt, fund margin money for bank guarantees, and meet general corporate expenses.

Regreen-Excel EPCR specializes in designing, manufacturing, and supplying ethanol plants using various feedstocks such as molasses, sugarcane syrup, and grains.

Since its inception, the company has completed 113 ethanol projects up to July 15, 2024, catering to different feedstocks and multi-feedstock projects.

As of mid-July 2024, the company reported an order book consisting of 64 ongoing projects valued at Rs 3,452 crore, which translates to over 10,000 kilo litres per day (KLPD) of ethanol capacity.

IIFL Securities and ICICI Securities are managing the lead roles for the issue.

(With inputs from agencies.)