Aarvee Engineering, Deon Energy file DRHPs with Sebi to raise Rs 202 crore and Rs 150 crore via fresh issue

Hyderabad-headquartered Aarvee Engineering Consultants and Ahmedabad-based Deon Energy have filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO). While Aarvee intends to raise Rs 202.5 crore by issue of fresh capital, Deon will issue fresh shares worth Rs 150 crore.

Aarvee Engineering Consultants IPO

The IPO will also have an offer for sale (OFS) component where up to 67.50 lakh equity shares will be offloaded by the promoter Selling ShareholderVenkatachala Chakrapani Redla, . The Promoters of the company are Venkatachala Chakrapani Redla and Sneha Redla.Aarvee proposes to utilise the net proceeds of the fresh issue towards repayment / pre-payment of borrowings worth Rs 76 crores. Out of the total proceeds, Rs 21.9 crores will be used towards investment in Indian subsidiary SRA OSS Pvt Ltd. for further developing geospatial solutions and digital engineering technologies. Investment in overseas subsidiaries will be made through the proceeds – Rs 34.8 crore in Australian subsidiary Aarvee Engineering Consultants Pty Ltd and Rs 20.8 crores in UK subsidiary Aarvee Associates Limited. The remaining amount will be used for general corporate purposes.

Aarvee is engaged in providing design and supervision related services with a portfolio that spans the entire project lifecycle such as feasibility studies, detailed project reports (DPR), pre-bid services, detailed design services, project management consultancy (PMC), supervision of operations and maintenance of projects, third party inspection and lenders engineering services.

The company claims to have successfully undertaken over 2,750 projects globally spanning multiple sectors, in 20 countries across Asia, Africa, Australia and Europe as on June 30, 2025.

Centrum Capital Limited and Ambit Private Limited are the book running lead managers (BRLMs) to the offer.Also Read: Parijat Industries files DRHP with SEBI for Rs 160 crore IPO

Deon Energy IPO

The offer also includes a subscription reservation by eligible employees, and a discount will be offered to eligible ones, bidding in the employee reservation portion.The proceeds from its fresh issuance worth Rs 100 crore will be utilised for funding its long-term working capital requirements, and general corporate purposes.

The offer is being made through the book-building process wherein not more than 75% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 10% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.

Incorporated in 2020, the company is focused on delivering end-to-end renewable energy solutions, including engineering, procurement and construction (EPC) of solar energy projects on a turnkey basis, with an emphasis on serving clients in the commercial and industrial sectors. The company executes independent solar EPC projects for its clients.

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