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Earthood Services files DRHP with SEBI to raise funds via IPO

28 Dec 2024 Evaluate

Earthood Services has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company's proposed IPO comprises a fresh issue of 36 lakh equity shares and an offer for sale of up to 42 lakh equity shares by promoters. The offer also includes a subscription reservation by eligible employees.

The company may consider raising Rs 10 crore in a pre-IPO placement round. Once the placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of Rs 30 crore will be used for funding requirements towards strengthening technological capabilities. Unistone Capital is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on the NSE and BSE.

The Gurugram-based services company specialises in providing Environmental, Social, and Governance (ESG) advisory and assurance services to clients in India and internationally.


Peers
Company Name CMP
VA Tech Wabag 1505.00
ION Exchage 400.15
Race Eco Chain 125.00
RESGEN 66.00
GEM Enviro 43.50
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