Oswal Energies files DRHP to raise ₹255 crore capital through IPO

Oswal Energies has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to float an initial public offering (IPO).

 

The company plans to raise capital through a combination of a fresh issue and an offer for sale. It aims to raise ₹250 crore via the fresh issue, while the promoters intend to sell up to 4.6 million equity shares with a face value of ₹10 each, aggregating to ₹4.6 crore.

Fund Utilisation

The company aims to use around ₹177 crore for long-term working capital requirements. Of the ₹177 crore, ₹94.6 crore has been earmarked for utilisation in the financial year (FY) 2025-26, and ₹82.4 crore will be used in FY27.

 

Company Background

Oswal Energies Limited is an integrated engineering, procurement, and construction (EPC) firm and a manufacturer of process equipment and packages. It serves various segments within the energy sector, including oil and gas, power, and petrochemicals. The company operates from a manufacturing facility in Gandhinagar, Gujarat, with an annual installed capacity of 2,000 metric tonnes. 

Financial and Operational Performance

The company’s net profit surged to ₹65.80 crore in FY25, up 118.8 per cent from ₹30.08 crore in FY24. In FY25, Oswal Energies Limited reported revenue from operations of ₹410.87 crore, a year-on-year (YoY) increase of 60.5 per cent compared to ₹256.04 crore in FY24. While the company's total income for FY25 stood at ₹412.67 crore, representing a growth of 57.1 per cent over the previous year’s ₹262.69 crore.

 

Additionally, Oswal Energies Limited’s net worth expanded more than fourfold over three years, reaching ₹122.70 crore in FY25 from ₹26.87 crore in FY23. Total borrowings as of FY25 stood at ₹19.32 crore.

 

Over the past three financial years, the company executed five EPC projects through its project division, with a total value of ₹334.9 crore. Concurrently, under its heavy engineering division, Oswal Energies completed 21 contracts worth ₹99.2 crore.