Sael Industries Ltd. IPO Details
Sael Industries was incorporated on April 25, 2022. The company is one of India’s top five renewable energy independent power producers with in-house solar module manufacturing and expertise in engineering, procurement, and maintenance. It operates solar and agri waste-to-energy projects across multiple states with long-term government and private power contracts, supported by strong off-taker credit profiles
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 0 | - | - | ₹45,750.0 M | DRHP DOC |
Sael Industries issue details
Sael Industries IPO issue size is ₹ 45,750.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
Sael Industries IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Sael Industries NUMBER OF SHARES ON OFFER
Sael Industries FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY26 | 260.8 | -58.3 | -112.4 | -1,802.9 | 48.4% |
| FY25 | 664.8 | -280.9 | -27.3 | -5,051.3 | 19.4% |
| FY24 | 558.5 | -267.1 | 34.4 | -1,171.6 | 16.5% |
| FY23 | 388.9 | -84.6 | 259.4 | -137.1 | 32.7% |
Sael Industries INFORMATION ON IPO ISSUE
About Sael Industries
Sael Industries was incorporated on April 25, 2022. The company is one of India’s top five renewable energy independent power producers with in-house solar module manufacturing and expertise in engineering, procurement, and maintenance. It operates solar and agri waste-to-energy projects across multiple states with long-term government and private power contracts, supported by strong off-taker credit profiles
Object of the Issue
- Investment in the subsidiaries namely SAEL Solar P5 Private Limited and SAEL Solar P4 Private Limited for repayment/prepayment, in full or in part, of certain of their outstanding borrowings, interest accrued and prepayment penalties, as applicable
- General corporate purposes
Sael Industries - PROMOTERS
| Name |
|---|
| Jasbir Singh |
| Sukhbir Singh |
| Laxit Awla |
Sael Industries Book Running Lead Manager
ICICI Securities Limited
sael.ipo@icicisecurities.com
Kotak Mahindra Capital Company Limited
sael.ipo@kotak.com
JM Financial Limited
SAEL.ipo@jmfl.com
Ambit Private Limited
sael.ipo@ambit.co
Sael Industries Registrar to the Offer
KFin Technologies Limited
sael.ipo@kfintech.com
Sael Industries Strengths
Integrated renewable operations
The company ranks among India’s leading renewable energy producers, operating across solar and agricultural waste-to-energy (AgWTE) segments. With in-house solar module manufacturing and vertically integrated operations, it manages the complete project lifecycle—from development and construction to operations and maintenance
Stable revenue base
The company’s long-term power purchase agreements with central and state government entities ensure stable and predictable cash flows. Its diversified off-taker base reduces payment risks and provides visibility of sustained revenue over the project lifecycle, strengthening financial stability and creditworthiness
In-house execution
The company’s in-house Engineering, Procurement and Construction (EPC) and Operations and Maintenance (O&M) teams enable efficient project execution and cost control. These capabilities have supported the completion of complex solar and AgWTE projects, including rapid commissioning of manufacturing lines and successful operations in challenging environments
Sael Industries Risks
Customer concentration risk
The company depends heavily on a few key off-takers for a major share of its revenue. Its top five off-takers account for 85–95% of total revenue in recent periods. Any loss of a key customer, change in payment terms, or delay in collections could significantly impact revenue
Project development risk
The development of solar and agricultural waste-to-energy projects involves complex execution challenges, including delays in approvals, construction, or financing. Any failure to complete or operationalise contracted projects on time may adversely affect the company’s growth prospects, financial performance, and project pipeline
Contractual performance risk
The company’s long-term power purchase agreements (PPAs) expose it to risks related to cost overruns, delays, and non-compliance with performance obligations. Failure to meet contracted power supply targets or obtain necessary regulatory approvals could result in penalties, termination of PPAs, and loss of future revenue
IPO FAQs
The promoters of the company are Jasbir Singh, Sukhbir Singh and Laxit Awla.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.