Ahmedabad-based Deon Energy files DRHP for IPO
Ahmedabad-based Deon Energy Ltd 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 offer, with a face value of Rs 10, is a fresh issue aggregating up to Rs 150 crore. The proceeds from its fresh issuance worth Rs 100 crore will be utilised for funding its long-term working capital requirements, and general corporate purposes. The Offer is being made through the book-building process, wherein not more than 75% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 10% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively. Incorporated in 2020, the company is focused on delivering end-to-end renewable energy solutions, including engineering, procurement and constructi...