Upcoming IPOs: Prozeal Green Energy, Neilsoft get SEBI approval to raise funds via public offers

Upcoming IPOs: Prozeal Green Energy is seeking to raise ₹700 crore by issuing new equity shares valued at ₹350 crore and an offer-for-sale (OFS) totalling ₹350 crore by promoters and investors selling shareholders, as per the DRHP. Upcoming IPOs: The initial public offerings of renewable energy solutions provider Prozeal Green Energy Ltd and Fujita Corporation-backed Neilsoft Ltd have received market regulator Securities and Exchange Board of India's (SEBI) approval to raise funds via initial public offerings (IPOs). The two companies had filed their draft red herring prospectuses (DRHPs) in March and May. They received SEBI's observation on September 1-2. In market parlance, receiving an observation from the market regulator means it's a nod to float the public issue. Prozeal Green Energy IPO Prozeal Green Energy is seeking to raise ₹700 crore by issuing new equity shares valued at ₹350 crore and an offer-for-sale (OFS) totalling ₹350 crore by promoters and investors selling shareholders, as per the DRHP. Under the OFS, Shobit Baijnath Rai, Manan Hitendrakumar Thakkar, Jaya Chandrakant Gogri, AAR EM Ventures LLP, Manoj Mulji Chheda and Bhaveshkumar Bachubhai Mehta will offload their stake. The money raised will be used for funding the long-term working capital requirements, debt repayment, investment in subsidiaries, and general corporate purposes. Ahmedabad-based Prozeal Green Energy focuses on delivering end-to-end renewable energy solutions, including engineering, procurement and construction (EPC) of solar energy projects on a turnkey basis. Neilsoft IPO Neilsoft's initial share sale will be a mix of a fresh issuance of shares aggregating to ₹90 crore and an OFS of 80 lakh shares. Those selling their stake under the OFS include Rupa Harish Shah jointly with Harishkumar Shah, Netsophy Pvt Ltd, Nishit Shah jointly with Rupa Harish Shah, Harishkumar Shah jointly with Rupa Harish Shah, SICOM, Small Industries Development Bank of India, Rajan Vasant Vakil jointly with Priti Rajan Vaki, Haresh Shantichand Jhaveri jointly with Darshana Haresh Jhaveri, Shirish Shrikrishna Sathe jointly with Swati Shirish Sathe and Rajnikant Dwarkadas Shah jointly with Mina Rajnikant Shah. BUZZING | Urban Company IPO fully subscribed on opening day: 10 key things to know from RHP The Pune-headquartered company had reduced its fresh issue size from ₹100 crore planned at the time of filing draft papers in December 2024. The regulator had returned these preliminary papers in March this year. Neilsoft, a technology-driven engineering services and solutions firm, plans to use ₹69.63 crore to fund capital expenditure and the rest for general corporate purposes. Founded in 1991, Neilsoft provides customised engineering services, including AEC design solutions, industrial plant design, and manufacturing equipment and production line design. With PTI inputs To learn more about IPOs, their listings, schedules, and upcoming IPOs, visit our page. To add Upstox News as your preferred source on Google, click here.