Upcoming IPO: SEBI Clears IPO Proposals of Prozeal Green Energy and Neilsoft

The Securities and Exchange Board of India (SEBI) has granted its approval to the draft red herring prospectuses (DRHPs) of Prozeal Green Energy and Neilsoft, paving the way for both companies to launch their Initial Public Offerings (IPOs) within the next 12 months.

Prozeal Green Energy IPO Details

Prozeal Green Energy, a Gujarat-based solar EPC (Engineering, Procurement, and Construction) firm, had filed its draft offer document with the regulator on March 30, 2025, aiming to raise up to ₹700 crore through its public issue.

The IPO consists of:

• A fresh issue of shares worth ₹350 crore
• An offer-for-sale (OFS) by promoters and existing shareholders, also aggregating ₹350 crore

Use of IPO Proceeds

Ranked as the 4th largest solar EPC company in India, Prozeal plans to deploy:

• ₹250 crore from the fresh issue towards long-term working capital needs
• ₹19.5 crore for debt repayment
• The remaining proceeds for general corporate purposes

Neilsoft IPO Details

Neilsoft, a Pune-headquartered engineering services company backed by Japan's Fujita Corporation, had refiled its DRHP on May 26, 2025, after revising its offer size.

The proposed IPO will include:

• A fresh issue of equity shares worth ₹90 crore
• An OFS of 80 lakh shares by existing stakeholders, including promoters

Use of IPO Proceeds

Neilsoft operates in a competitive space, alongside listed players like KPIT Technologies, Onward Technologies, Cyient, L&T Technology Services, and Tata Technologies. The company plans to allocate:

• ₹63.5 crore from the net proceeds towards capital expenditure
• The remaining funds for general corporate purposes

Also Read: Upcoming IPOs in September 2025: 1 Mainboard and 7 SME IPO Set to Launch till Date

Conclusion

With regulatory approvals now in place, both companies are positioned to tap the capital markets in the coming months, subject to market conditions and other relevant clearances.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.