Sugs Lloyd Get BSE SME's Clearance To Float IPO

New Delhi: EPC company Sugs Lloyd on Tuesday said it has received in-principal approval from the BSE SME exchange to raise funds through an initial public offering.

Sugs Lloyd operates in the renewable energy sector, with a primary focus on solar energy, electrical transmission and distribution, and civil EPC projects.

The Initial Public Offering (IPO) is entirely a fresh issue of up to 59 lakh equity shares with a face value of Rs 10 each.

According to market experts, the company aims to raise approximately Rs 85.4 crore through the book-building route.

Sugs Lloyd filed its draft papers with the BSE SME platform in November 2024.

The proceeds from the fresh issue will be utilised by the company for working capital requirements, to support business expansion, and for general corporate purposes.

City-based Sugs Lloyd provides outage management solutions utilising fault passage indicators, auto reclosers, and sectionalisers for electricity distribution companies (DISCOMs).

The company recorded revenue from operations of Rs 25.49 crore and a profit after tax (PAT) of Rs 3.53 crore in the first quarter of FY25. Its revenue from operations was Rs 65.12 crore and PAT at Rs 10.48 crore in FY24.

3Dimension Capital Services is the book-running lead manager and KFin Technologies is the registrar of the IPO.

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