Chennai-Based Renfra Energy India Files DRHP For IPO With ₹430 Crore Fresh Issue

Chennai-based renewable engineering procurement and construction company Renfra Energy India has filed its draft red herring prospectus (DRHP) for an initial public offering (IPO). The proposed public issue comprises a fresh issue of shares worth ₹430 crore and an offer for sale component of up to 4,794,800 shares.

The company, which operates from Chennai, was incorporated in 2017. It has outlined specific plans for the utilisation of the proceeds generated from the fresh issue of shares. Out of the total amount raised, Renfra Energy India has earmarked ₹160 crore towards the redemption of its outstanding non-convertible debentures.

Furthermore, the renewable energy firm intends to allocate ₹175 crore from the fresh issue proceeds to fund its daily working capital requirements and to support general corporate purposes.

Before filing the final prospectus, Renfra Energy India may also consider a pre-IPO placement of shares. This potential pre-IPO placement could be for an amount of up to ₹50 crore. If the company completes this pre-IPO placement, the total amount to be raised from the fresh issue of the IPO will be reduced by a corresponding sum.

Unistone Capital has been appointed as the book running lead manager to oversee and manage the entire public offer.

The filing comes on the back of strong financial performance by the Chennai firm. Renfra Energy India reported a revenue from operations of ₹1,013 crore in the 2026 fiscal year (FY26). This financial metric represents a compound annual growth rate (CAGR) of 54.4% over a three-year period starting from the 2023 fiscal year (FY23).