Prozeal Green Energy plans to mop-up Rs ₹700 crore while Neilsoft will raise Rs ₹90 crore via fresh equity issuance and dilute 80 lakh shares of existing investors under ‘offer for sale’
| Photo Credit:
Ildo Frazao
Capital markets regulator SEBI has cleared two initial public offerings to cumulatively raise over ₹790 crore.
Prozeal Green Energy, the fourth largest solar EPC company, plans to mop-up ₹700 crore while Tokyo-based Fujita Corporation backed Neilsoft will raise ₹90 crore via fresh equity issuance and dilute 80 lakh shares of existing investors under ‘offer for sale’.
Prozeal Green Energy will issue fresh equity shares worth ₹350 crore and an offer for sale of another ₹350 crore by existing investors.
The company plans to use the proceeds from the IPO for repayment of debt, working capital and general corporate purposes.
Nuvama Wealth Management and SBI Capital Markets are the Lead Managers to the issue.
Prozeal Green Energy is focused on delivering end-to-end renewable energy solutions, including engineering, procurement, and construction of solar energy projects on a turnkey basis, with an emphasis on serving clients in the commercial and industrial sectors.
The company provides clients with customised solutions, including options for capex or opex models, land purchase or lease, and the selection of suitable technology.
Since its inception in 2013 through September 30, 2024, Prozeal Green Energy has successfully executed 182 solar power projects with a total installed capacity of 783.98 MWp across 17 States and one in Nepal for 125 clients.
As of September 2024, its order book was ₹2,220 crore, of which ₹2,209 crore was for ground-mounted solar power projects.
Neilsoft Ltd
The company will issue fresh equity of ₹90 crore and an offer-for-sale of 80 lakh shares by promoters and other selling shareholders.
Pune-based engineering services and solutions provider plans to use the net proceeds for capital expenditure and general corporate purposes.
Published on September 9, 2025