DRHP Link: https://www.bseindia.com/corporates/download/306863/IPO%20Prior/Soleos_DRHP_Final_20260930232525.pdf

Ahmedabad -based Soleos Energy Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).

The IPO, with a face value of Rs 5, is a fresh issue for up to 1,10,00,000 equity shares and an offer-for-sale for up to 90,00,000 equity Shares by promoters – Bhaveshkumar C Rathod,  Dhavalkumar  Ghanshyambhai Jiyani, Parth R Rangholia, Aniket Rangholia and Vipul Rathod.

Other selling shareholders – Chandan Garg, Anand Rajeshbhai Patel, Silver Turtle Ventures, Ankush Kedia, NG Family Trust, Dipti Jayantilal Panchal, Jainam Manharbhai Shah (HUF), Nairit Rajiv Gala, Ravish Malav, Mayur Popatlal Gadda, Atul Bhimji Gohil, Komalay Investrade Private Limited, Nitinbhai Govindbhai Patel and Meghdoot Leisure LLP.

The company, in consultation with the book-running lead managers, may consider a Pre-IPO Placement, prior to filing of the Red Herring Prospectus with the RoC. If the pre-IPO placement is completed, the amount raised pursuant will be reduced from the Fresh Issue.

The proceeds from its fresh issuance worth Rs 113.6 crore will be utilised for funding capital expenditure requirement for setting up battery energy storage systems manufacturing facility with an installed capacity of 2.20 GWh (BESS Project), Rs 20 crore for repayment and/or prepayment, in full of part, of certain outstanding borrowings availed by the company and general corporate purposes.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.

Beeline Capital Advisors Private Limited is the book-running lead manager, and MUFG Intime India Private Limited is the registrar of the issue.

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