 "PMEA Solar prepares for a dramatic IPO, seeking Rs 600 crore to expand manufacturing and repay debt amid soaring revenues.")
PMEA Solar Tech Solutions Ltd has filed for an initial public offering (IPO) with the Securities and Exchange Board of India (Sebi). The IPO aims to raise Rs 600 crore through a fresh issue, along with an offer to sell 11.24 million shares from existing promoters. The funds will be used for capital investments, including establishing a new manufacturing facility and purchasing equipment in Nasik and Pune. In the last fiscal year, PMEA Solar reported an impressive 87.3% revenue increase, reaching Rs 1,500 crore, with a net profit of Rs 103.64 crore. Meanwhile, there is also speculation regarding NTPC Green Energy’s upcoming IPO to fund its renewable energy projects.
PMEA Solar Tech Solutions Ltd is making headlines with its ambitious plans for an initial public offering (IPO). The company has filed draft documents with the Securities and Exchange Board of India (Sebi), revealing that the IPO will feature a fresh issue valued at Rs 600 crore. Additionally, existing promoters and shareholders will offer up to 11.24 million shares for sale.
Funds from the new issue are earmarked for capital expenditure and paying off existing debts. PMEA Solar aims to establish a manufacturing facility for fixed-tilt and tube mill structures in Mundra, while also investing in machinery and equipment for its existing plants located in Nasik and Pune. As of June 2024, the company has total borrowings of Rs 314.06 crore.
With significant manufacturing capabilities, PMEA Solar boasts an annual installed capacity of 16 gigawatts for module mounting structures and 6 gigawatts for rolled products. The company not only specializes in solar products but also manufactures components for various industries, including switchgears and automotive.
In its most recent financial report for the year 2024, PMEA saw a remarkable revenue increase to Rs 1,500 crore, a jump of 87.3% from the previous year. It also achieved a net profit of Rs 103.64 crore, compared to Rs 27.44 crore the year before.
Amidst this buzz, there’s also talk about another sizable IPO in the renewable sector. NTPC is planning a Rs 10,000 crore IPO for NTPC Green Energy, aimed at financing several ongoing and future projects related to solar energy and green hydrogen.
This wave of IPOs showcases the growing momentum in India’s renewable energy sector, aligning with global efforts to promote sustainable energy solutions. As companies like PMEA Solar and NTPC Green Energy gear up for their respective offerings, investors are likely to keep a close eye on developments in the clean energy Market.
Stay tuned for more updates in the ever-evolving landscape of renewable energy and investments in India.
Tags: PMEA Solar, IPO, renewable energy, solar energy, NTPC Green Energy, clean energy investments, Indian stock Market.
What is PMEA Solar planning to do?
PMEA Solar is planning to raise Rs 600 crore by offering shares to the public through an IPO.
What is an IPO?
An IPO, or Initial Public Offering, is when a company sells its shares to the public for the first time to raise money.
How many shares will PMEA Solar sell in this IPO?
PMEA Solar will sell 11.2 million shares in this IPO.
How will PMEA Solar use the money from the IPO?
The company plans to use the money raised from the IPO for growth and expansion projects.
When will PMEA Solar’s IPO be available for investors?
The exact dates for the IPO will be announced soon, so investors should keep an eye out for updates.
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