Regreen-Excel IPO seeks Rs 350 crore

11 Sep 2024 , 01:20 PM

Regreen-Excel is an ethanol plant manufacturer. EPC India Ltd has filed preliminary documents with the capital markets regulator Sebi to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the company’s inaugural share sale will include a new issue of equity shares worth Rs 350 crore as well as an offer-for-sale (OFS) of 1.14 crore equity shares by promoters.

The business intends to use the net proceeds from the new issue to pay down debt, fund margin money requirements in order to get bank guarantees, and for other corporate reasons.

Regreen-Excel EPCR is a technology-driven engineering, procurement, and construction business that designs, manufactures, and supplies ethanol facilities.

Over the years, the company has developed end-to-end capabilities for setting up ethanol facilities using feedstocks such as molasses/sugarcane syrup, grains, or a combination of the two, allowing them to deliver idea to commissioning solutions to their customers.

From its founding to July 15, 2024, the company has completed 113 projects involving diverse feedstocks, including 53 molasses-based projects, 57 grains-based projects, and three multi-feedstock projects.

As of July 15, 2024, the company’s order book included 64 ongoing projects worth Rs 3,452 crore, totalling over 10,000 kilolitres per day (KLPD) of ethanol capacity.

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