Eapro Global Raises INR 40 Crore in Funding Round Ahead of Planned FY28 IPO
Eapro is preparing for a proposed initial public offering in FY28 and is in discussions with prospective lead managers and investors.
September 23, 2026. By Abha Rustagi
Aarth AIF Growth Fund, NAV Bharat Investment Opportunities Fund, VentureX Fund, Kyro India Opportunities Fund-I and Juggilal Kamlapat Lakshmipat (JK) Family Office were among the investors in the round, Eapro said in a statement.
Kyro Capital acted as the sole transaction adviser, handling investor identification, transaction structuring and closure of the fundraise.
The transaction also marks the first investment by Kyro India Opportunities Fund-I, a SEBI-registered Category II Alternative Investment Fund managed by Kyro Asset Management.
Eapro plans to use the fresh capital to expand manufacturing capacity, strengthen technology capabilities and accelerate its presence across India's renewable energy and power-backup markets.
The company manufactures solar inverters, batteries and energy storage systems and has reported strong financial growth. Revenue rose to INR 346.39 crore in FY26 from INR 199.61 crore in FY25, while EBITDA increased to INR 44.30 crore from INR 26.73 crore. Profit after tax rose to INR 30.54 crore from INR 18.58 crore during the same period.
Eapro is preparing for a proposed initial public offering in FY28 and is in discussions with prospective lead managers and investors, the company said.
"Energy storage systems and solar inverters are set to be at the very core of India's energy future. As the country accelerates its transition towards renewable energy and greater grid resilience, the demand for reliable, indigenous power-backup and storage solutions will only intensify," said Jagdeep Chauhan, managing director of Eapro Global.
"This fundraise strengthens our balance sheet and positions Eapro to scale manufacturing capacity, deepen our technology capabilities, and capture this rapidly expanding opportunity. We are targeting our initial public offering for FY28 and are already in active discussions with lead managers and prospective investors as we prepare for that milestone," Chauhan added.
Aman Maheshwari, founder and fund manager of Kyro India Opportunities Fund-I, said, "We see tremendous structural growth ahead in sectors like energy storage systems and power-backup solutions, driven by India's accelerating shift to renewable energy and the rising need for reliable, resilient power."
"Eapro is one of the leading manufacturers in this space, and we are proud to have exclusively advised the Company on this pre-IPO fundraise. This deal will also mark the first investment for Kyro India Opportunities Fund-I, and it sets the benchmark for the quality and rigour we intend to bring to every investment that follows," added Maheshwari.
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