Here are the key details, financial fundamentals, and current Grey Market Premium (GMP) for the Oneindig Technologies Limited IPO:
1. Latest GMP & Listing Expectations
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Current Grey Market Premium (GMP): ₹0
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Estimated Listing Price: ₹96 per share (Upper Price Band + ₹0 GMP)
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Expected Listing Gain/Loss: 0.00% (Flat listing signal as of now)
2. IPO Structure & Timeline
| Parameter | Details |
| IPO Open Date | July 30, 2026 |
| IPO Close Date | August 3, 2026 |
| Price Band | ₹91 to ₹96 per equity share |
| Face Value | ₹10 per share |
| Total Issue Size | ₹27.65 Crore (28.80 Lakh Fresh Shares) |
| Lot Size (Retail Min) | 2 Lots (2,400 Shares) |
| Minimum Investment | ₹2,30,400 (Retail) |
| Listing Exchange | BSE SME |
| Basis of Allotment | August 4, 2026 |
| Tentative Listing Date | August 6, 2026 |
3. Company Overview & Business Model
Incorporated in 2016, Oneindig Technologies Limited is a renewable energy player offering Engineering, Procurement, and Construction (EPC) services for solar power projects across India.
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Core Services: End-to-end solar project delivery, including residential, commercial & industrial (C&I) rooftop solar, ground-mounted installations, and solar water pumps under government schemes (PM-KUSUM, PM Surya Ghar).
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Additional Revenue: Operations & Maintenance (O&M) services, Independent Power Producer (IPP) activities via Power Purchase Agreements (PPAs), and supply/trading of solar PV modules, inverters, and battery storage solutions.
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Execution & Scale: Operational solar capacity of ~58.40 MW, with additional projects under construction totaling over 58 MW.
4. Financial Performance (Consolidated)
(Figures in ₹ Crores)
| Metric | FY 2022–23 | FY 2023–24 | FY 2024–25 | 10M FY 2025–26 (Jan 2026) |
| Total Revenue / Income | ₹19.32 | ₹43.64 | ₹46.14 | ₹57.56 |
| EBITDA | ₹1.38 | ₹5.22 | ₹6.87 | ₹10.52 |
| Profit After Tax (PAT) | ₹0.11 | ₹2.95 | ₹4.17 | ₹6.16 |
| Net Worth | — | — | ₹14.68 | ₹20.65 |
| Total Assets | ₹13.64 | ₹27.15 | ₹35.53 | ₹88.99 |
Key Ratios:
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Return on Equity (ROE): 34.89%
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PAT Margin: ~10.71%
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P/E Ratio: ~18.53x (Based on recent annualized earnings)
5. Key Strengths & Risk Factors
Strengths:
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Industry Tailwinds: Operates in the fast-growing solar & renewable energy sector backed by government mandates.
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Diversified Portfolio: Multiple revenue streams (EPC + Equipment Distribution + Recurring O&M / PPA tariffs).
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Solid Order Pipeline: Order book worth ~₹148.59 Crore (as of Jan 2026) to be executed over the next 18–20 months.
Risks / Concerns:
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Working Capital Heavy: Solar EPC contracts involve high upfront capital requirements, creating risk around receivables and delayed customer payments.
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Fragmented & Competitive Industry: High market competition in SME solar EPC execution can put pressure on future margins.
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Regulatory / Policy Dependence: Heavy reliance on state and central solar subsidies and grid-connection policies.