Ultravibrant Integrated Energy Limited
DRHP · filed 29 Sept 2026
This is a draft. SEBI has not cleared it, there is no final price yet, and it may never become an IPO.
Ultravibrant Integrated Energy Limited is a renewable energy company with a debt-to-equity ratio of 2.19, deriving 84.26% of its revenue from operations from its top ten customers, with a single largest customer contributing over 39.97% of revenue. The company's business is concentrated in Rajasthan and Telangana, and it faces high execution risks regarding cost overruns and delays in project construction. The draft prospectus highlights high customer concentration risk, geographic concentration risk, and the potential for adverse effects if top customers reduce purchases or if off-takers fail to pay.
What stands out
Risk factor. We derive a significant portion (84.26% in Fiscal 2026) of our revenue from operations from our top ten customers, with our single largest customer contributing more than 39.97% of our revenue from operations in Fiscal 2026. We also derive a significant portion (53.63% in Fiscal 2026) of our revenue
Risk factor. Our solar EPC projects are concentrated in the states of Rajasthan and Telangana and our IPP projects are concentrated in Rajasthan. Any significant social, political, economic disruption, natural calamities or civil disruptions in these states could have an adverse effect on our business, results o
Risk factor. Our renewable energy project construction activities may be subject to cost overruns or delays which may adversely affect our business, results of operations, cash flows and financial condition. In the event, we are not successful in executing our contracted and awarded projects, our business, resul
Risk factor. Our business is concentrated with our top five customers, which constituted 71.82% of our revenue from operations in Fiscal 2026.
How the offer is structured
- Funding long-term working capital requirements of our Company₹62.0 Cr
- Pre-payment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company₹22.0 Cr
- General corporate purposes
Promoters, litigation & related parties
Related-party
2.4%
Share of revenue
Except as disclosed in this section, there are no outstanding (i) criminal proceedings; (ii) actions taken by regulatory or statutory authorities; (iii) any other pending litigation/arbitration proceeding which has been determined to be material pursuant to the Materiality Policy; (iv) claims related to direct and indirect tax matters (disclosed in a consolidated manner, giving details of the number of cases and total amount involved in such cases) each involving our Company, its Subsidiaries, Directors, and Promoter. Further, except as disclosed in this section, there are (a) no disciplinary actions (including penalties imposed) initiated by SEBI or the stock exchanges against our Promoter in the last five Fiscals immediately preceding the date of this Draft Red Herring Prospectus, including any outstanding action; or (b) no criminal proceedings involving our KMPs or SMPs or (c) no actions by regulatory and statutory authorities against such KMPs or SMPs, or (c) no pending litigation involving our Group Companies which may have a material impact on our Company in the opinion of our Board. There are no findings/observations of any of the inspections by SEBI or any other regulator involving our Company which are material, and which need to be disclosed or non-disclosure of which may have bearing on the investment decision, other than the ones which have already disclosed in the Offer Document. Further, any outstanding civil litigations/ arbitration proceedings involving the Relevant Parties wherein the monetary impact is not quantifiable or does not exceed the threshold shall be considered 'material' and shall be disclosed in the Offer Documents, if the outcome of such litigation could have a material adverse effect on the business, performance, prospects, operations, financial position or reputation of the Company. Except as stated in this section, there are no outstanding material dues to creditors of our Company.
Risks the company discloses
We derive a significant portion (84.26% in Fiscal 2026) of our revenue from operations from our top ten customers, with our single largest customer contributing more than 39.97% of our revenue from operations in Fiscal 2026. We also derive a significant portion (53.63% in Fiscal 2026) of our revenue from operations from repeat customer. Loss of any of these customers or a reduction in purchases or repeat orders by any of them could adversely affect our business, results of operations, cash flows and financial condition.(Customer Concentration)
Our solar EPC projects are concentrated in the states of Rajasthan and Telangana and our IPP projects are concentrated in Rajasthan. Any significant social, political, economic disruption, natural calamities or civil disruptions in these states could have an adverse effect on our business, results of operations, cash flows and financial condition.(Geographic Concentration)
Our renewable energy project construction activities may be subject to cost overruns or delays which may adversely affect our business, results of operations, cash flows and financial condition. In the event, we are not successful in executing our contracted and awarded projects, our business, results of operations, cash flows and financial condition may be adversely impacted.(Execution Risk)
Our business is concentrated with our top five customers, which constituted 71.82% of our revenue from operations in Fiscal 2026.(Customer Concentration)
We cannot assure you that we will be able to maintain historic levels of business from our top 10 customers, or that we will be able to significantly reduce client concentration in the future. Accordingly, our business, results of operations, cash flows and financial conditions could be adversely affected if our relationship with these top 10 customers is adversely affected.(Customer Concentration)
The loss of any of our top 10 customers or the loss of any repeat orders from any significant customer or customer group for any reason including due to loss of, or failure to renew existing arrangements; limitation to meet any change in quality specification, change in technology; regulatory changes, disputes with a customer; adverse changes in the financial condition of our customers, such as possible bankruptcy or liquidation or other financial hardship or a reduction in the demand for our products by any of our top customers could have a material adverse effect on our business, results of operations, cash flows and financial condition.(Customer Concentration)
Due to the geographic concentration of our operations, we are susceptible to local and regional factors, such as economic and weather conditions, natural disasters, political, demographic and population changes, adverse regulatory developments, civil unrest and other unforeseen events and circumstances. Such disruptions could result in the damage or destruction of a significant portion of our construction and/or manufacturing capabilities, significant delays in construction and/or production, which may materially adversely affect our business, results of operations, cash flows and financial condition.(Geographic Concentration)
There can be no assurance that our renewable energy power developer and offtaker will have the resources to pay on time or at all.(Offtaker Credit Risk)
No dimension score is published for this filing. Too few sections could be read from the document to score it without guessing, and a score built on two fields would say more about our extraction than about the company.

