Chiraharit Limited was initially incorporated as Brahmani Ventures Private Limited in 2006. Its core mission is fostering greenery through efficient water transportation and renewable energy projects. The company specializes in turnkey EPC (Engineering, Procurement, and Construction) projects across two main sectors: Water-based and Renewable Energy-based.
In the Water-based segment, it focuses on the pressurized movement of piped water. This includes projects for piped irrigation in agriculture, drinking water supply for residential and industrial areas, and water systems for solar module cleaning and landscaping.
The Renewable Energy segment is a more recent addition, where the company undertakes the construction of Compressed Bio-Gas (CBG) plants. In this area, Chiraharit provides complete civil, mechanical, and pumping system solutions, showcasing its commitment to sustainable energy and technical expertise.
Industry Outlook
- The global solar panel cleaning market is a key driver for Chiraharit's water-based projects. With the market projected to grow from USD 0.85 billion in 2023 to USD 1.47 billion by 2032, there is a clear and expanding need for the company's services, which include water-based solar module cleaning systems.
- The Indian agricultural sector, which Chiraharit's piped irrigation projects serve, is a massive and growing market, predicted to reach US$ 24 billion by 2025. This large-scale demand for efficient water management in agriculture and related industries like food processing provides a strong and sustained need for the company's water-based EPC solutions.
- The company's expansion into Compressed Bio-Gas (CBG) plant construction aligns with the global shift towards renewable energy. This new segment positions Chiraharit to capitalise on the increasing focus on sustainable energy solutions, diversifying its portfolio beyond water and tapping into a new growth area.
How To Apply for the Chiraharit Ltd. IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Chiraharit Ltd. IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Chiraharit Ltd. IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Chiraharit Ltd. IPO
Registered office: Malaxmi Courtyard, Survey No. 157, Khajaguda Village,
Chitrapuri Colony Post, Hyderabad, Telangana, 500104
Phone: +91 7738561210
Email: cs@chiraharit.com
Chiraharit Ltd. IPO Reservation
|
Investor Category |
Shares Offered |
Percentage of Issue |
|
Market Maker |
7,44,000 |
5.03% |
|
NII (HNI) |
70,26,000 |
47.49% |
|
Retail |
70,26,000 |
47.49% |
|
Total |
1,47,96,000 |
100.00% |
Chiraharit Ltd. IPO Lot Size Details
|
Investor Type |
Lots |
Shares |
Amount (₹) |
|
Individual Investors (Retail) Min |
2 |
12,000 |
2,52,000 |
|
Individual Investors (Retail) Max |
2 |
12,000 |
2,52,000 |
|
HNI (Min) |
3 |
18,000 |
3,78,000 |
Chiraharit Ltd. IPO Promoter Holding
The company is promoted by Mr. Pavan Kumar Bang, Mrs. Tejaswini Yarlagadda, and Mr. Venkata Ramana Reddy Gaggenapalli.
|
Description |
Promoter Holding (%) |
|
Pre-IPO |
100% |
|
Post-IPO |
73% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Chiraharit Ltd. IPO
|
KPI |
30-09-2024 |
|
EBITDA Margin (%) |
18.31 |
|
PAT Margin (%) |
11.66 |
|
EPS (Basic & Diluted in ₹) |
15.24 |
|
RONW (%) |
52.83 |
|
ROCE (%) |
22.49 |
Chiraharit Ltd. IPO Prospectus
Chiraharit Ltd. IPO Registrar and Lead Managers
Chiraharit Ltd. IPO Lead Managers: Finshore Management Services Ltd.
Registrar for Chiraharit Ltd. IPO
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website:https://ipo.bigshareonline.com/IPO_Status.html
Financial Performance of Chiraharit Ltd.
| Metric | 30-09-2024 (₹ Lakh) | 31-03-2024 (₹ Lakh) | 31-03-2023 (₹ Lakh) |
|---|---|---|---|
| Total Income | 3,267.83 | 3,057.42 | 3,303.16 |
| Revenue from Operations | 3,267.61 | 3,056.55 | 3,288.78 |
| EBITDA (Operating Profit) | 598.16 | 235.73 | 168.68 |
| PAT (Profit After Tax) | 381.08 | 60.34 | 42.05 |
| Total Borrowings | 1,867.98 | 1,630.03 | 1,592.34 |
Know before investing
Strengths
8Diversified services in water management, renewable energy, irrigation, and construction sectors.
Experienced promoters with 30+ years in agriculture, water, and energy management.
Robust order book: ₹41+ crores as of March 2025.
Strong project execution ensuring timely delivery, budget adherence, and quality standards.
Strategic partnerships enhancing technology access, supply chain, and operational efficiency.
Commitment to quality assurance across solar and water distribution networks.
Backward integration with HDPE manufacturing unit reduces costs, improves efficiency.
Expanding domestic footprint and entering international markets for revenue diversification.
Risks
8The company is subject to ongoing legal proceedings, which may affect it financially.
Project awards are uncertain; competitive bidding may not ensure consistent contract wins.
EPC contracts require strict criteria; failure to qualify limits future project opportunities.
Reliance on joint venture partners involves risk of disqualification or financial losses.
The company depends on top 10 suppliers; supply disruption may reduce revenue.
Top 1 supplier contributed 15–30% of purchases, increasing operational dependency risks.
Past non-compliance for share application bank account may attract regulatory penalties.
Delays in ROC/statutory filings exist; late fees paid but risks persist.
Chiraharit Ltd. Peer Comparison
| Competitor | EPS (Basic) | P/E Ratio (times) | RONW (%) | Turnover (₹ in Lakhs) |
|---|---|---|---|---|
| Polysil Irrigation Systems Ltd | 2.06 | 10.70 | 8.30 | 4,446.42 |
| Chiraharit Limited | 0.15 | 172.36 | 18.20 | 3,056.50 |
