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