Sadbhav Futuretech IPO: Solar EPC Firm Files DRHP with SEBI, Plans ₹235 Cr OFS

Solar EPC company Sadbhav Futuretech has taken a step towards going public by filing its Draft Red Herring Prospectus (DRHP) with SEBI for its upcoming IPO.

The proposed IPO will include a fresh issue of up to 2.55 crore equity shares along with an Offer for Sale (OFS) worth ₹235 crore by existing promoters and shareholders. Key selling stakeholders include Saikat Roy, Bhupender Singh, Neelam Jain, and others.

The company plans to utilize the proceeds from the fresh issue primarily for working capital requirements and general corporate purposes.

About the Company

Sadbhav Futuretech operates in the engineering, procurement, and construction (EPC) segment of solar power projects. Its core focus areas include:

• Solar water pumping systems
• Rooftop solar installations
• Ground-mounted solar power systems

The company has installed a total capacity of 171.68 MW, with a significant share coming from solar water pumping projects.

Additionally, it has secured Letters of Intent for 120 MW projects and currently operates across multiple states such as Maharashtra, Rajasthan, Assam, and Madhya Pradesh.

Order Book & Growth

As of February 2025, the company’s order book stood at ₹2,016 crore, comprising 19 projects with execution timelines ranging from 3 to 18 months. Government projects account for around 65% of the order book.

Financially, Sadbhav Futuretech has shown strong growth:

• Revenue grew from ₹73 crore (FY23) to ₹302 crore (FY25)
• Profit surged from ₹0.85 crore to ₹30.8 crore in the same period

This reflects robust expansion driven by rising demand in the renewable energy sector.

Key Highlight

The IPO is being managed by Beeline Capital Advisors, and the listing aims to support the company’s expansion in India’s fast-growing solar energy market.