Avaada Electro Limited
UDRHP · filed 25 Aug 2026
This is a draft. SEBI has not cleared it, there is no final price yet, and it may never become an IPO.
Avaada Electro Limited is a company with a limited operating history that began operations and revenue generation in Fiscal 2025, reporting a revenue of Rs 5303.524 crore in Fiscal 2026 and a revenue CAGR of 481.77%. The IPO is structured as a fresh issue of Rs 1600 crore with no Offer for Sale component. The draft prospectus highlights material risks including the company's heavy dependence on Avaada Energy Private Limited for revenue, reliance on its corporate promoter for financial support and guarantees, and the obligation to repay a significant loan from the promoter after eight years.
What stands out
Risk factor. The Offer size majorly consists of an Offer for Sale by the Corporate Promoter and Promoter Selling Shareholder, Avaada Ventures Private Limited, from which the Company will not receive any proceeds.
Risk factor. The Company has a limited operating history, with operations and revenue generation commencing only in Fiscal 2025, and did not have any employees during Fiscal 2023.
Risk factor. The majority of the Company's revenue from operations has historically been derived from Avaada Energy Private Limited, comprising 89.34% and 99.74% of revenue in Fiscal 2026 and Fiscal 2025, respectively.
Risk factor. The Company has historically been dependent on Avaada Energy Private Limited and Avaada Ventures Private Limited for financial support, including equity contributions of ₹5,047.40 million and outstanding borrowings of ₹5,290.52 million as of March 31, 2026.
Primarily fresh capital. 100% of the offer is fresh issue, so most proceeds fund the company.
Strong revenue growth. Restated revenue CAGR of 481.8%.
How the offer is structured
Fresh issue
₹1.60k Cr
New capital into the company
OFS share
0%
- Funding prepayment, repayment and/or payment obligations to our lenders towards certain borrowings, and acceptances pursuant to letters of credit availed by our Company, in part or full₹1.20k Cr
- General corporate purposes
Restated financials
Revenue
₹5.30k Cr
Latest fiscal year
Revenue CAGR
481.8%
Debt / equity
1.92
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2025 | ₹912 Cr | ₹588 Cr | ||
| 2026 | ₹5.30k Cr | ₹1.59k Cr |
Promoters, litigation & related parties
Promoter (pre)
100.0%
Related-party
3.0%
Share of revenue
Except as disclosed in this section
Risks the company discloses
The Offer size majorly consists of an Offer for Sale by the Corporate Promoter and Promoter Selling Shareholder, Avaada Ventures Private Limited, from which the Company will not receive any proceeds.(Offer Structure)
The Company has a limited operating history, with operations and revenue generation commencing only in Fiscal 2025, and did not have any employees during Fiscal 2023.(Operational History)
The majority of the Company's revenue from operations has historically been derived from Avaada Energy Private Limited, comprising 89.34% and 99.74% of revenue in Fiscal 2026 and Fiscal 2025, respectively.(Customer Concentration)
The Company has historically been dependent on Avaada Energy Private Limited and Avaada Ventures Private Limited for financial support, including equity contributions of ₹5,047.40 million and outstanding borrowings of ₹5,290.52 million as of March 31, 2026.(Promoter Dependence)
The Company has availed ₹63,670.00 million as corporate guarantees from its Corporate Promoter, Avaada Power and Lighting Limited (AVPL), to secure loans from lenders.(Promoter Dependence)
The Company has availed loans from its Corporate Promoter, AVPL, amounting to ₹5,260.20 million as of March 31, 2026, carrying interest rates of 8.15% and 8.65% repayable after eight years.(Financial Risk)
The Company has purchased ₹16,787.75 million of capital goods and services and made corresponding EPC payments of ₹15,671.54 million to AVPL as of March 31, 2026, for the construction of manufacturing facilities.(Operational Risk)
The Company will eventually be required to refinance or repay the principal amount of ₹5,260.20 million owed to AVPL after the expiry of the eight-year term, and failure to secure refinancing on favourable terms could lead to liquidity constraints.(Financial Risk)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.