Energy Efficiency Services IPO – Review, Allotment Status, Subscription, Price, Date & more

Energy Efficiency Services IPO or EESL IPO is a new IPO in the making. Energy Efficiency Services Limited is a joint venture of various PSUs i.e. plublic sector undertakings and falls under the ministry of power. Thus, it can be said to be a government backed company. Energy Efficiency Services is coming up with an IPO to raise funds.

The IPO would be by way if secondary issue wherein stake of upto 20% of holdings would be sold off. To know more about this upcoming IPO, read this article which talks about the IPO size, IPO release date, company background, company financial position and other details like subscription, IPO allotment, grey market price etc.


Energy Efficiency Services IPO Review & Ratings

Energy Efficiency Services IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.7/10
Company Background7.9/10
Company Reputation7.5/10
Competitive Edge7.2/10
Financial Statements7.4/10
Popularity Index7.7/10
Promoters Reputation7.5/10
Retail Appetite7.5/10
Top Brokers Review7.3/10
Overall Ratings7.6/10
Star Ratings★★★☆☆

Summary of Energy Efficiency Services IPO

energy efficiency services ipoEnergy Efficiency Services Limited (EESL) is a joint venture of four National Public Sector Undertakings – NTPC Limited, Power Finance Corporation Limited, Rural Electrification Corporation Limited and POWERGRID Corporation of India Limited, set up under Ministry of Power, Government of India.

Founded in 2010 by the Government of India, EESL today is implementing the largest energy efficiency portfolio in the world. EESL’s energy efficient appliances and technologies have saved India over 35 billion kWh energy annually.

Energy Efficiency Services plans to raise Rs. 200 crores by selling off 20% stake in the capital. The IPO is expected to be out before end of this year. The company has appointed a consortium of Axis Bank LtdNSE -0.03 %. and Trust Group as financial advisers.


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Energy Efficiency Services IPO Date

The IPO release date for Energy Efficiency services is not decided yet. The details would be shortly updated.

Energy Efficiency Services IPO Subscription

 Subscription
Day 1 X
Day 2 X
Day 3 X
Day 4 X
Day 5 X

The details of subscription made on each day of the offer would be updated herein on a daily basis post the release of IPO.

Energy Efficiency Services IPO Allotment Status

Details relating to the allotment of shares to the subscribers would be updated once the allotment is finalised by the company.

Energy Efficiency Services IPO Price Band

The price band for the IPO is not yet decided as it is under the draft stage. Upon finalisation, the details of offer price would be updated in this section.

Energy Efficiency Services IPO Issue Size

It is expected that Energy Efficiency Services IPO would be Rs. 200 crores. This figure is based on the details provided by one of the spokesperson of the company. The number is an indicative figure and may change.  

Energy Efficiency Services IPO Equity Share Offerings

The number of shares available for subscription has not been released yet. The company is in the process of finalising the details and hence this section would be updated once the company releases the final details.


Energy Efficiency Services – Company Overview

Energy Efficiency Services Limited (EESL) is a joint venture of four National Public Sector Undertakings – NTPC Limited, Power Finance Corporation Limited, Rural Electrification Corporation Limited and POWERGRID Corporation of India Limited, set up under Ministry of Power, Government of India.

EESL is a Super Energy Service Company (ESCO). It acts as the resource center for capacity building for State Distribution Companies (DISCOMs), Energy Regulatory Commissions (ERCs), State Development Authorities (SDAs), upcoming ESCOs, financial institutions, etc.

EESL has designed an innovative business model that is scalable, flexible, embraces different and emerging technologies, independent of public funding, and incentivises all stakeholders. Capable of delivering outcomes in a time-bound manner to enable more, it has the power to unlock demand in sectors where none existed. EESL can therefore drive large scale initiatives to create markets for disruptive solutions.

Key members of Energy Efficiency Services:

  • Rajeev Sharma (Chairman)
  •  Saurabh Kumar  (Managing Director)
  • Raj Pal (Director)
  • Renu Narang (Director Finance)

Competitive Strengths of Energy Efficiency Services

  • In house expertise in execution of energy efficiency and demand side management projects
  • Knowledge of the key innovation in energy efficient technologies
  • Customer relationships

Business strategy of Energy Efficiency Services

  • Demand aggregation
  • Innovative ESCO models
  • Institutional strengthening

 Energy Efficiency Services – Financial Statements

A collation of the financial position of the company is presented below:

Assets of the Company

Assets (in INR & Millions)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Non-Current Asset10,7835,3281,5227910
Current Asset14,9839,2701,6361,1791,083
Total Asset25,76614,5993,1591,2581,093


Revenue & PAT of the Company

Revenue & Profits (in INR & Millions)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Total Revenue12,2728,031711264263
Profit after Tax (PAT)519371911063

Earnings per Equity Share

Earning per Equity Share (in INR)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Basic1.252.731.010.1116.11
Diluted1.252.711.010.110.64

There appears to be quite a fluctuating cycle for the company. One of the reasons could be the role of Government companies that hold stake in the company. However, considering the unique nature of business of the company and the government backing, one might want to follow this company.


Energy Efficiency Services Promoters

Following government companies are the promoters :

  • NTPC Limited
  • Power Finance Corporation Limited
  • Power Grid Corporation of India Limited
  • Rural Electrification Corporation Limited

Promoter Interest in the company.

The promoter companies hold shareholding in the company and hence would be interested to the extent of their stake and the dividend and related similar pay-outs. The other details would be updated once the company releases the relevant documents

Promoter Interest in property of the company

These details would be shortly updated for Energy Efficiency Services promoters.


Energy Efficiency Services IPO Offer Details or Issue Details

OfferThe offer is expected to be close to Rs. 200  crores
Of which
Issue reserved for the Market Makers
Net Issue to the public
Of which
Allotment to retail investors
Allotment to other investors
Equity Shares outstanding prior to the offer
Equity Shares outstanding after the Offer

The details of the issue would be updated once the company finalizes on such details.


Energy Efficiency Services IPO Issue Object

Though the reasons for the IPO are not very clear, it is anticipated that the issue is being made for following objectives:

  • Market visitibility
  • Convenience in raising funds
  • Corporate expenses
  • Benefits of listing

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Energy Efficiency Services IPO – Basis of the Offer Price

The process of fixing offer price, also referred to as the book building process, is generally taken care of by the company in consultation with the lead managers. The process is undertaken during the time in which the draft prospectus is submitted and the date of release of final prospectus. During this tenure, the market sentiments are sensed and accordingly, the offer price is fixed.

The qualitative factors relevant to decide the issue price:

  • In house expertise in execution of energy efficiency and demand side management projects
  • Knowledge of the key innovation in energy efficient technologies
  • Customer relationships

The quantitative factors relevant for the issue price are:

  • Earning per share
  • Price/earning ratio
  • Return on Net Worth
  • Net Asset Value – NAV per Equity Share
  • Comparison with listed industry peer

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Energy Efficiency Services IPO Lead Managers

Lead Managers
To be updated shortly

Energy Efficiency Services IPO Registrar to offer

Registrar to offer
To be updated shortly

Energy Efficiency Services IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking
Sharekhan
Kotak Securities
ICICI Direct
IIFL
Edelweiss
Zerodha
5Paisa
Karvy
Motilal Oswal

Energy Efficiency Services IPO Grey Market Premium

The grey market for the IPO would be open 15 days before the release of the IPO. Thus, the same will be due only after a few months. Also, the grey market price or the kostak rate would be available as soon as the grey market opens up. The details would be updated herein as and when available.


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Energy Efficiency Services IPO News

News 1 – India’s energy saving champion delays IPO to next fiscal year 


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