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SAEL Industries IPO Updates – Corrigendum to DRHP

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Anshika

Table of Contents

Overview of the Corrigendum to the Draft Red Herring Prospectus (DRHP) filed by SAEL Industries Limited, outlining key updates, clarifications, and revised disclosures as part of its ongoing IPO process.

SAEL Industries Limited has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) and subsequently submitted a corrigendum to provide updated and clarified disclosures as part of its plan to raise capital through an initial public offering.

The DRHP and corrigendum together outline the company’s business profile, operational strengths, financial performance, and the broad structure of the proposed public issue.

SAEL Industries IPO Filing (DRHP & Corrigendum)

The DRHP and Corrigendum provide an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.

Filing Overview

SAEL Industries Limited filed its Draft Red Herring Prospectus (DRHP) with SEBI in November 2025, marking the formal initiation of its IPO process. Following this, the company filed a corrigendum to the DRHP in January 2026, providing updated disclosures and clarifications on specific aspects of the proposed public issue.

The filing and corrigendum are currently under regulatory review. SEBI observations and approvals will determine the next stages, including the filing of the Red Herring Prospectus (RHP) and the announcement of issue dates. Subject to regulatory approvals, the equity shares are proposed to be listed on recognised stock exchanges in India.

Issue Structure

As per the DRHP and corrigendum, the proposed IPO is expected to comprise the following components:

Particulars Details

Issue Type

Fresh Issue of Equity Shares and Offer for Sale (OFS)

Fresh Issue

Provides new capital to the company

Offer for Sale

Partial exit for existing shareholders

Face Value

₹5 per equity share

Issue Size

To be finalised and disclosed in the RHP

Proposed Listing

NSE and BSE

Price Band

To be announced in the RHP

Book Running Lead Managers

To be announced in the RHP

Registrar to the Issue

To be disclosed in final RHP

These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.

About the Company

SAEL Industries Limited operates in the renewable energy sector, with a focus on the development, ownership, and operation of solar power and agri waste-to-energy projects in India. The company is engaged in generating power from renewable sources and supporting clean energy adoption through its portfolio of utility-scale and distributed energy assets.

Its operations include the development and management of solar power plants and biomass-based energy facilities, supported by project execution capabilities, long-term power purchase agreements, and compliance with applicable regulatory and environmental standards. The company also undertakes activities related to renewable energy infrastructure across different stages of the value chain.

SAEL Industries Limited maintains relationships with power off-takers, government agencies, and project partners across India. Its operations are supported by established renewable energy assets, operational experience, and a growing presence in India’s renewable energy sector.

IPO Objectives

According to the DRHP and corrigendum, the proceeds from the fresh issue are proposed to be utilised towards the following broad objectives:

Fund Allocation Purpose

Capital Expenditure

Investment in renewable energy projects and subsidiaries, including solar and agri waste-to-energy assets

Project Development & Efficiency Improvements

Enhancement of project execution capabilities and operational efficiencies

Working Capital

Supporting ongoing business operations and day-to-day funding requirements

Debt Repayment

Partial repayment or prepayment of existing borrowings

General Corporate Purposes

Supporting administrative, strategic, and operational requirements

These objectives aim to strengthen operational capabilities, expand renewable energy capacity, and support medium- to long-term growth.

Financial Highlights

The DRHP and corrigendum provide an overview of SAEL Industries Limited’s consolidated financial performance over recent periods. Detailed audited financial statements are available in the official filings.

Key Financial Metrics (as disclosed in DRHP & Corrigendum)

Fiscal Year / Period Revenue (₹ crore) EBITDA (₹ crore) Profit After Tax (₹ crore)

FY24

587.01

97.08

267.14

FY25

730.52

141.92

280.95

H1 FY26 (Jun 30 2025)

276.31

~133.63 (annualised)

58.31

*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information.

SAEL Industries IPO Timeline Summary

The table below summarises the current status of the IPO process based on publicly available information:

Milestone / Stage Date / Status Details

DRHP filed with SEBI

November 2025

Draft Red Herring Prospectus filed for public disclosure

Corrigendum to DRHP filed

January 2026

Updated disclosures and clarifications submitted

SEBI observations

Awaited

Subject to regulatory review

SEBI approval for IPO

Awaited

Approval required before proceeding further

Red Herring Prospectus (RHP)

To be announced

To be filed post SEBI approval

IPO Opening Date

To be announced

Final dates awaited

IPO Closing Date

To be announced

Will be disclosed in RHP

Allotment Date

To be announced

Post IPO closure

Listing on NSE/BSE

To be announced

Post allotment and listing formalities

Note: Investors should refer to official filings for final IPO dates to learn more about SAEL Industries Limited IPO listing details and price, and listing timelines.

Check other upcoming ipo’s here : Upcoming IPO

Disclaimer

This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.

Sources

  • LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo

  • Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo 

  • Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/ 

  • NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos 

  • Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner 

FAQs

When did SAEL Industries Limited file its DRHP and corrigendum?

SAEL Industries Limited filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India in November 2025 and submitted a corrigendum on 12 January 2026 to incorporate updated disclosures and clarifications for its proposed initial public offering.

The SAEL Industries Limited IPO is currently at the Draft Red Herring Prospectus and corrigendum review stage, with observations and approval from the Securities and Exchange Board of India awaited before advancing to the Red Herring Prospectus.​

The SAEL Industries Limited IPO comprises a fresh issue of equity shares alongside an offer for sale by existing shareholders, with the final issue size and pricing details to be disclosed in the forthcoming Red Herring Prospectus.​

Subject to regulatory approvals, SAEL Industries Limited proposes to list its equity shares on the National Stock Exchange and the Bombay Stock Exchange.

SAEL Industries Limited proposes utilising fresh issue proceeds for manufacturing expansion, research and development investments, working capital requirements, partial debt repayment, and general corporate purposes to support renewable energy growth initiatives.

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Hi! I’m Anshika
Financial Content Specialist
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Anshika brings 7+ years of experience in stock market operations, project management, and investment banking processes. She has led cross-functional initiatives and managed the delivery of digital investment portals. Backed by industry certifications, she holds a strong foundation in financial operations. With deep expertise in capital markets, she connects strategy with execution, ensuring compliance to deliver impact. 

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