Renfra Energy, Innoterra & GNI Infra file DRHPs with Sebi for IPOs; check key details
Renfra Energy India, Innoterra and GNI Infrastructure have filed draft red herring prospectuses with the SEBI to raise funds through initial public offerings.
- Jul 1, 2026,
- Updated Jul 1, 2026 2:25 PM IST
Renfra Energy India, Innoterra and GNI Infrastructure have filed draft red herring prospectuses with the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings. The three companies operate in renewable energy, agritech and infrastructure, and plan to use the proceeds for expansion, working capital and debt reduction.
Renfra Energy India Tamil Nadu-based Renfra Energy India, an integrated solar and wind energy solutions provider focused on commercial and industrial customers, plans to launch an IPO comprising a fresh issue of up to Rs 430 crore and an offer for sale of up to 47.95 lakh equity shares. Promoters Muthuraj Periyasamy and Jayendran will not participate in the OFS.
The company plans to use the fresh issue proceeds to redeem non-convertible debentures worth Rs 160 crore, meet working capital requirements of Rs 170 crore and for general corporate purposes. It may also undertake a pre-IPO placement of up to Rs 50 crore, which would reduce the size of the fresh issue.
Founded in 2017, Renfra provides turnkey EPC services across solar, wind and operations and maintenance businesses. As of May 15, 2026, it had executed renewable energy projects with an installed capacity of 462.35 MW and was executing projects with a capacity of 139.10 MW. For FY26, it reported revenue of Rs 1,013 crore and profit after tax of Rs 156.8 crore. Unistone Capital is the sole book-running lead manager.
Innoterra Agritech platform Innoterra, formerly MilkLane Dairy Services and a subsidiary of Switzerland-based Innoterra AG, has filed for an IPO comprising a fresh issue of up to Rs 105 crore and an offer for sale of 70.55 lakh equity shares by Milklane Holding and Mahyco.
The company said it will use the fresh issue proceeds to set up new bulk milk collection centres, replace milk cooling units, meet working capital needs, pursue inorganic acquisitions and for general corporate purposes.
Innoterra runs a technology-led, asset-light agri-food platform across three businesses: raw milk procurement under the MilkLane platform, cattle nutrition through the MilkLane Aayush brand, and fresh fruits and staples under the FarmLink, Happy Fruits and Amaraah brands. As of December 31, 2025, it operated 122 bulk milk collection centres across Tamil Nadu, Andhra Pradesh and Karnataka, while its FarmLink business had distribution centres in Bengaluru, Chandigarh, Lucknow and Delhi.
According to a 1Lattice report cited in the DRHP, the Indian dairy market is expected to grow at a CAGR of about 10.3 per cent through FY30. InCred Capital Wealth Portfolio Managers is the sole book-running lead manager.
GNI Infrastructure Mumbai-based GNI Infrastructure, an EPC road construction company with operations mainly in Maharashtra, has filed its DRHP for an IPO comprising a fresh issue of up to 2.10 crore equity shares and an offer for sale of up to 93.88 lakh shares, taking the total offer size to 3.04 crore equity shares.
The company plans to use the net proceeds from the fresh issue for working capital requirements and general corporate purposes.
Incorporated in 2007, GNI Infrastructure undertakes construction, widening, upgradation, repair and maintenance of roads and highways, and is also expanding into solid waste management through biomining projects. Road infrastructure accounted for 87.6 per cent of its revenue from operations as of December 31, 2025, with solid waste management contributing the rest.
The company has completed more than 50 road projects over the past five years and was executing 18 projects in Maharashtra, with an order book of Rs 1,021 crore at the end of December 2025. SMC Capitals and Marwadi Chandarana Intermediaries Brokers are the book-running lead managers, while KFin Technologies is the registrar.
Renfra Energy India, Innoterra and GNI Infrastructure have filed draft red herring prospectuses with the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings. The three companies operate in renewable energy, agritech and infrastructure, and plan to use the proceeds for expansion, working capital and debt reduction.
Renfra Energy India Tamil Nadu-based Renfra Energy India, an integrated solar and wind energy solutions provider focused on commercial and industrial customers, plans to launch an IPO comprising a fresh issue of up to Rs 430 crore and an offer for sale of up to 47.95 lakh equity shares. Promoters Muthuraj Periyasamy and Jayendran will not participate in the OFS.
The company plans to use the fresh issue proceeds to redeem non-convertible debentures worth Rs 160 crore, meet working capital requirements of Rs 170 crore and for general corporate purposes. It may also undertake a pre-IPO placement of up to Rs 50 crore, which would reduce the size of the fresh issue.
Founded in 2017, Renfra provides turnkey EPC services across solar, wind and operations and maintenance businesses. As of May 15, 2026, it had executed renewable energy projects with an installed capacity of 462.35 MW and was executing projects with a capacity of 139.10 MW. For FY26, it reported revenue of Rs 1,013 crore and profit after tax of Rs 156.8 crore. Unistone Capital is the sole book-running lead manager.
Innoterra Agritech platform Innoterra, formerly MilkLane Dairy Services and a subsidiary of Switzerland-based Innoterra AG, has filed for an IPO comprising a fresh issue of up to Rs 105 crore and an offer for sale of 70.55 lakh equity shares by Milklane Holding and Mahyco.
The company said it will use the fresh issue proceeds to set up new bulk milk collection centres, replace milk cooling units, meet working capital needs, pursue inorganic acquisitions and for general corporate purposes.
Innoterra runs a technology-led, asset-light agri-food platform across three businesses: raw milk procurement under the MilkLane platform, cattle nutrition through the MilkLane Aayush brand, and fresh fruits and staples under the FarmLink, Happy Fruits and Amaraah brands. As of December 31, 2025, it operated 122 bulk milk collection centres across Tamil Nadu, Andhra Pradesh and Karnataka, while its FarmLink business had distribution centres in Bengaluru, Chandigarh, Lucknow and Delhi.
According to a 1Lattice report cited in the DRHP, the Indian dairy market is expected to grow at a CAGR of about 10.3 per cent through FY30. InCred Capital Wealth Portfolio Managers is the sole book-running lead manager.
GNI Infrastructure Mumbai-based GNI Infrastructure, an EPC road construction company with operations mainly in Maharashtra, has filed its DRHP for an IPO comprising a fresh issue of up to 2.10 crore equity shares and an offer for sale of up to 93.88 lakh shares, taking the total offer size to 3.04 crore equity shares.
The company plans to use the net proceeds from the fresh issue for working capital requirements and general corporate purposes.
Incorporated in 2007, GNI Infrastructure undertakes construction, widening, upgradation, repair and maintenance of roads and highways, and is also expanding into solid waste management through biomining projects. Road infrastructure accounted for 87.6 per cent of its revenue from operations as of December 31, 2025, with solid waste management contributing the rest.
The company has completed more than 50 road projects over the past five years and was executing 18 projects in Maharashtra, with an order book of Rs 1,021 crore at the end of December 2025. SMC Capitals and Marwadi Chandarana Intermediaries Brokers are the book-running lead managers, while KFin Technologies is the registrar.