Soleos Energy IPO (DRHP filed)
Soleos Energy Limited filed its draft red herring prospectus with SEBI on 30 Sep 2026. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 30 Sep 2026
- Days since
- 31
- Issue size
- —
- Board
- Mainboard
- Price band
- TBA
Soleos Energy IPO status
Soleos Energy Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 30 Sep 2026 |
|---|---|
| Days since filing | 31 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Soleos Energy Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹226.88 Cr to ₹286.85 Cr, and profit after tax fell from ₹24.83 Cr to ₹21.48 Cr. The PAT margin for 31 Mar 2026 was 7.49%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 419.33 | 207.03 | 79.98 |
| Total Income | 286.85 | 226.88 | 94.98 |
| Profit After Tax | 21.48 | 24.83 | 5.49 |
| EBITDA | 29.95 | 32.95 | 8.54 |
| Net Worth | 198.96 | 87.66 | 26.91 |
| Reserve & Surplus | 176.66 | 85.82 | 25.44 |
| Total Borrowings | 101.92 | 28.30 | 10.43 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 14.99 | 43.35 | 30.22 |
| ROCE % | 14.43 | 43.31 | 29.83 |
| Debt / Equity | 0.51 | 0.32 | 0.39 |
| RoNW % | 10.80 | 28.33 | 20.41 |
| Pat Margin % | 7.64 | 11.19 | 5.85 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Soleos Energy Ltd | 5 | — | 7.14 | 7.14 | 10.80% | 44.60 |
| Solarworld Energy Solutions Ltd | 5 | 9.04 | 14.95 | 14.95 | 14.21% | 97.82 |
| Zodiac Energy Ltd | 10 | 16.15 | 13.81 | 13.81 | 17.96% | 77.26 |
| Oriana Power Ltd | 2 | 13.33 | 124.13 | 124.13 | 33.01% | 375.72 |
| Bondada Engineering Ltd | 2 | 15.18 | 18.25 | 18.25 | 30.47% | 63.19 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirement for setting up battery energy storage systems manufacturing facility with an installed capacity of 2.20 GWh (“BESS Project”) | 113.60 |
| 2 | Repayment and/or prepayment, in full of part, of certain outstanding borrowings availed by our Company | 20.00 |
| 3 | General corporate purposes | — |
| Total | 133.6 |
About Soleos Energy Limited
Incorporated in 2017, Soleos Energy is an integrated solar energy company providing end-to-end solutions across the solar project lifecycle, encompassing project development, design and engineering, procurement, construction, commissioning and long-term asset management. The Company’s business model includes Solar Engineering, Procurement and Construction (EPC), project development and consultancy, total asset management, group captive solar projects and equity participation in solar projects.
Business Operations
Solar EPC Services: Provides end-to-end solutions for solar projects, including design, engineering, procurement, construction, installation and commissioning.
Project Development & Consultancy: Supports solar projects across various stages, including land identification, statutory approvals, grid connectivity, project structuring and commercial arrangements.
Total Asset Management: Provides operations and maintenance (O&M) and lifecycle management services aimed at maintaining plant performance and optimising asset efficiency.
Power Generation & Sales: Participates in the ownership and development of solar power projects and generates revenue through the sale of electricity generated from such projects.
Solar Products & Equipment: Offers photovoltaic (PV) modules and other solar-related components, equipment and accessories.
Battery Energy Storage Systems (BESS): Has expanded into energy storage solutions through the manufacturing of battery packs and containerised BESS solutions for residential, commercial and industrial (C&I), and utility-scale applications.
The Company has executed solar projects across India and select international markets, with operations and project presence extending to countries including Singapore, Spain, Uganda, Colombia, Portugal, Zimbabwe and the Democratic Republic of the Congo (DRC). In line with its expansion into energy storage, the Company has established a pilot-scale Battery Energy Storage System (BESS) manufacturing facility at Kubadthal, Ahmedabad, with an annual production capacity of 100 MWh. The facility is intended to serve customers across residential, C&I and utility-scale segments.
As of August 31, 2026, the Company had an unexecuted order book of ₹1,59,377.71 lakhs.
Promoters
Bhaveshkumar C.Rathod
Dhavalkumar Ghanshyambhai Jiyani
Parth R.Rangholia
Aniket Rangholia
Vipul Rathod
Contact details
Soleos Energy Ltd.
802, 8th Floor, Altimus, Shreyas Colony
Tera Panth Road, Off. Ashram Road
Navrangpura
Ahmedabad, Gujarat, 380009
Telephone: +919099660003
Email: investors@soleosenergy
Website: https://soleosenergy.com/
Soleos Energy IPO FAQs
- Has Soleos Energy IPO filed for an IPO?
- Soleos Energy Limited filed its draft red herring prospectus (DRHP) with SEBI on 30 Sep 2026.
- When will the Soleos Energy IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the Soleos Energy IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.