Earthood Services Ltd: Pioneering ESG Advisory Firm Files for IPO

Earthood Services Ltd, headquartered in Gurugram, has filed for an IPO to raise funds, focusing on expanding its ESG advisory services. The IPO involves both fresh equity and an offer for sale by promoters. The company plans to allocate significant funds to enhance technological capabilities and has seen notable revenue growth.

Gurugram-based Earthood Services Ltd has taken a significant step towards financial expansion by filing a draft paper with the Securities and Exchange Board of India (Sebi) for an Initial Public Offering (IPO).

Specializing in Environmental, Social, and Governance (ESG) advisory services, Earthood aims to raise substantial capital, offering a fresh issue of 36 lakh equity shares, supplemented by an offer for sale of up to 42 lakh shares by promoters. The company also includes a reservation for eligible employees as part of the IPO process.

The company, which has advised on high-profile projects like certifying the Delhi Metro Rail's carbon neutrality and auditing the Indian Army's eco-impact, intends to use Rs 30 crore from the raised funds to bolster its technology infrastructure. With an impressive track record of over 400 clients across 132 countries, Earthood reported significant financial growth in the recent fiscal year.

(With inputs from agencies.)