Chennai: Chennai-based renewable engineering procurement and construction company Renfra Energy India has filed draft red herring prospectus for an initial public offering with Rs 430 crore fresh issue and an offer for sale component of up to 47,94,800 shares. The company plans to utilise the proceeds with Rs 160 crore towards redemption of non-convertible debentures and Rs 175 crore for funding its working capital requirement and general corporate purposes.Incorporated in 2017, the company may consider a pre-IPO placement of shares up to Rs 50 crore, prior to filing of the prospectus and the amount from fresh issue will be reduced if the pre-IPO placement is completed. Renfra Energy’s FY26 revenue from operations stood at Rs 1,013 crore, 54.4% CAGR from FY23. Unistone Capital is the book running lead manager to the offer.
