Divya Agarwal
Pune (Maharashtra) [India], October 13: Swid Renewables Limited, a Pune-based renewable energy EPC company specialising in Solar Photovoltaic (Solar PV) projects for industrial and commercial customers, has filed its Draft Red Herring Prospectus (DRHP) with NSE EMERGE for its proposed Initial Public Offering (IPO).
Established in 2016, the company has developed a presence across 30 cities and eight states, serving industries including automotive, manufacturing, pharmaceuticals, warehousing, logistics, food processing and hospitality.
Building on its established Solar EPC business, Swid Renewables is expanding into Battery Energy Storage Systems (BESS) and integrated Solar-plus-Storage solutions. During FY2026, the company completed commissioning services for a 862.58 MWh BESS project comprising 172 containers in Rajasthan and secured an integrated 650 kWp Solar PV and 1,044 kWh BESS project in Pune.
The company is also pursuing growth opportunities in Open Access Solar Parks and Power Purchase Agreement (PPA)-based renewable energy solutions.
For FY2026, Swid Renewables reported revenue of ₹79.93 crore, EBITDA of ₹19.31 crore and restated profit of ₹16.22 crore, with a revenue CAGR of 31.05% and EBITDA CAGR of 40.29% between FY2024 and FY2026.
As of September 15, 2026, the company had an order book of ₹36.10 crore, comprising 40 purchase orders aggregating to 12,458 kWp.
The proposed IPO comprises a Fresh Issue of up to 44,00,000 equity shares, with no Offer for Sale component.
GYR Capital Advisors Private Limited is the Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar to the Issue.
Swid Renewables aims to strengthen its position as an integrated renewable energy solutions provider, combining Solar EPC expertise with emerging Battery Energy Storage capabilities.
Disclaimer: The company has filed its DRHP dated September 20, 2026, with NSE EMERGE. The proposed IPO is subject to regulatory approvals and market conditions. Investments in equity securities involve risks. Investors should read the DRHP, including the Risk Factors section, before making any investment decision.
