Deon Energy Files DRHP with SEBI for INR 150 Crore IPO

Solar EPC company Deon Energy has filed draft papers with SEBI to raise INR 150 crore through an IPO comprising only a fresh issue of shares.

October 09, 2025. By Mrinmoy Dey

Ahmedabad-based renewable energy solutions provider Deon Energy has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise INR 150 crore through an initial public offering (IPO).

According to the DRHP, the IPO will be entirely a fresh issue of shares, with no offer-for-sale (OFS) component.

Deon Energy plans to use INR 100 crore from the proceeds to meet its long-term working capital requirements, while the remainder will go toward general corporate purposes.

Founded in 2020, the company provides end-to-end renewable energy solutions, specialising in engineering, procurement, and construction (EPC) of solar projects on a turnkey basis for commercial and industrial (C&I) clients. Deon also undertakes independent solar EPC projects for a diverse customer base across India.

As of March 2025, the company had executed 78 solar projects with a combined installed capacity of 140.29 MWdc and 118.80 MWac.

For FY25, Deon Energy reported INR 299 crore in revenue from operations and a net profit of INR 26 crore, reflecting steady growth in India’s fast-expanding renewable energy sector.

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