Deon Energy Files Draft Papers For Rs 150-Crore IPO

Deon Energy Ltd. filed its preliminary papers with the capital markets regulator SEBI on Thursday to raise funds via an initial public offering. The public offer will include only fresh issues of shares worth Rs 150 crore.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.

Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue and Bigshare Services Pvt. Ltd. will be the registrar of the issue.

Proceeds from the fresh issue worth Rs 100 crore will be used for repayment or pre-payment in full or part of certain borrowings of the company. A part of the funds will be used for the general corporate purposes.

Deon Energy is a renewable energy solutions provider focused on delivering end-to-end solar EPC (engineering, procurement, and construction) projects on a turnkey basis, with a strong emphasis on serving clients in the commercial and industrial sectors.

The company specialises in independent ground-mounted and rooftop solar EPC projects, offering solutions that include power consumption analysis, technology selection, land acquisition assistance, project execution, and commissioning, along with securing necessary approvals for grid connectivity.

Since its inception in 2020, Deon Energy has executed 78 solar power projects with a total installed capacity of 140.29 MWDC and 118.80 MWAC as of March 31, 2025.

In fiscal 2025, the company reported Rs 298.8 crore in revenue from operations, up from Rs 68.4 crore in fiscal 2024 and Rs 41.8 crore in FY23, representing a CAGR of 167.25% between FY23 and FY25. Its order book stood at Rs 505.2 crore as of Aug. 31, 2025.