Regreen-Excel EPC India Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). The IPO will feature a fresh issue of ₹350 crore and an offer for sale of 1.14 crore shares.
The promoters selling shares in the offer for sale (OFS) include Sanjay Shrinivasrao Desai, Tushar Vedu Patil, Alimuddin Aminuddin Sayyed, Kiran Sudhakar Gavali, Rokesh Luis Mascarenhas, and Sagar Satish Raut.
From the fresh issue proceeds, ₹180 crore will be allocated for capital expenditure, ₹55 crore for debt repayment, ₹38 crore for margin money requirements related to securing bank guarantees, and the remaining amount will be used for general corporate purposes.
The capital expenditure will cover the purchase of machinery, equipment, associated civil work, software design, and project management.
The IPO will be overseen by IIFL Securities Ltd. and ICICI Securities Ltd.
Regreen-Excel specializes in designing, manufacturing, and supplying ethanol plants for the sugar, chemicals, agri-chemicals, food, pharmaceuticals, cement, and steel industries. Key clients include Balrampur Chini Mills Ltd., Globus Spirits Ltd., and India Glycols Ltd.
