Coimbatore-based NGE Green Energy (Natrinai Ventures) has announced that it has received approval for its Draft Red Herring Prospectus (DRHP) from the Securities and Exchange Board of India (SEBI) to raise ₹ 133 crore through the proposed SME initial public offering.
The proposed issue is aimed at funding capacity expansion, strengthening working capital and supporting entry into adjacent segments such as energy storage.
NGE Green Energy offers Engineering, Procurement and Construction (EPC) services for solar power projects, with a focus on solar power parks (ground mounted solar systems) and rooftop solar.
The company footprint in Tamil Nadu, with an installed capacity of 250 MW of ground mounted solar systems and 0.10 MW of rooftop solar.
As per the DRHP, it holds an EPC contract and Letter of Intent (LOI) for an additional 100 MW of ground-mounted solar capacity.
For the financial year ending March 2025, the company recorded a revenue of ₹157 crore and a profit of ₹15.5 crore, a media release from the company said. The release added that the company has commissioned a 75 MW, 110 kV pooling substation in Pudukkottai, Tamil Nadu.