NE BUSINESS BUREAU
AHMEDABAD, MAR 24
Madhya Pradesh-based carbon footprint management company EKI Energy Services intends to raise a little over Rs18 crore through its IPO, which opened on Wednesday and will end on Friday.
EKI Energy, which operates under the brand name ‘Enking International’, helps its clients achieve carbon footprint neutrality, cut down greenhouse gas emissions, trade in carbon offsets, conduct electrical safety audits and do sustainability reporting. In 2019-20, the company achieved a turnover of Rs 66 crore and made a net profit of Rs 4.4 crore. In the first six months of 2020-21, its turnover was Rs 60 crore and net profit, Rs 5.38 crore.
The company has 50.50 lakh equity shares and is issuing an additional 18.24 lakh shares for a subscription. The fixed price band is Rs 100 to Rs 102, so the company expects to raise between Rs 18.24 crore and Rs 18.60 crore through the IPO. The shares will be listed on the SME platform of the BSE.
EKI Energy Services has been in business for over 12 years. It counts NTPC, NHPC, Indian Oil Corporation, Indian Railways, SB Energy, The World Bank, and Fortum among its clients. Information made available by the company says that it facilitates the trading of a million carbon offsets every month.
The company’s Chairman and Managing Director, Manish Kumar Dabkara, said that the proceeds of the IPO would be used to expand the business, both within and outside India.
HEM Securities Limited is the Book Running Lead Manager to the Offer.
