Vishvaraj Environment Set for Landmark INR 2,250 Crore IPO to Propel Water and Renewable Energy Projects
Water management company Vishvaraj Environment plans to raise INR 2,250 crore through an IPO. The funds will be used for debt repayment and key projects including water and sewage treatment plants, and solar power projects. With a strong track record, they also have plans to expand into renewable energy.
- Country:
- India
Vishvaraj Environment is gearing up for a significant public offering, planning to raise INR 2,250 crore through its IPO. The company's prospectus reveals that the proceeds will focus on repaying subsidiaries' debts and advancing key projects across wastewater and renewable energy sectors.
These projects include a 300 MLD water treatment plant, a 60 MLD sewage treatment facility, an 80 MLD tertiary reverse osmosis plant, and a 30 MW solar power project falling under the PM Kusum scheme. Significantly, the company is exploring an additional Rs 250 crore pre-IPO round which, if realized, could scale back the fresh issue.
Vishvaraj Environment, with a formidable footprint in wastewater management and an expanding role in renewable energy, spans 30 cities with a variety of treatment plants. It has reported robust financial performance, with increases in both revenue and profit. The IPO underlines its commitment to expanding into green energy with new solar projects planned across Maharashtra. Financial strategists JM Financial, Axis Capital, and DAM Capital Advisors will guide the IPO process.
(With inputs from agencies.)
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