# Integrum Energy Infrastructure Limited: IPO analysis > Integrum Energy Infrastructure Limited (CIN U40106KA2021PLC144691) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 1,58,08,000 shares and an offer for sale of 82.42 lakh shares. In FY26 it reported revenue of ₹118 Cr (-83.0% on FY25) and a net profit of ₹13 Cr. Promoters hold 90.7% before the IPO. Our fact-check of its claims found no medium or high concerns across 40 claims checked. - Page: https://ipo.innerkore.com/company/U40106KA2021PLC144691/integrum-energy-infrastructure-limited/ - CIN: U40106KA2021PLC144691 - Last updated: 7 Oct 2026 ## Key facts - **Company:** Integrum Energy Infrastructure Limited - **CIN:** U40106KA2021PLC144691 - **Filing stage:** DRHP - **Latest SEBI filing:** 7 Oct 2026 - **Offer for sale:** 82,42,000 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹118 Cr - **Revenue growth:** -83.0% - **Net profit FY26:** ₹13 Cr - **Revenue CAGR FY24 to FY26:** -29.0% - **Promoter holding (pre-IPO):** 90.7% - **Lead managers:** Mefcom Capital Markets Limited, Centrum Broking Limited, Centrum Capital Limited, Beeline Capital Advisors Private Limited - **Registrar:** KFIN TECHNOLOGIES LIMITED - **Fact-check flags:** 0 high, 0 medium, 1 low ## Key signals (read from the filing; not investment advice) - **Growth** (concern): -29% a year. Sales FY24 to FY26; latest year -83%. - **Profitability** (looks fine): 10.7% net margin. FY26; operating margin improving. - **Debt** (looks fine): 0.06x equity. ₹9 crore borrowed at the end of FY26. - **Profit into cash** (concern): -31% of profit. Operations brought in ₹-4 crore against ₹12.6 crore of profit in FY26. - **One-off income** (look closer): 11% of profit. Other and one-off income is 11% of pre-tax profit; management describes 4 one-off items. - **Where the money goes** (looks fine): 34% for sale. 66% is new shares issued by the company. 3% of the new money repays debt. - **Red flags** (looks fine): None serious. 40 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 233 | 694 | 118 | | Sales growth | – | 197.5% | -83.0% | | Operating profit | 20 | 88 | 17 | | Operating margin | 8.6% | 12.7% | 14.6% | | Net profit | 15 | 63 | 13 | | Net margin | 6.6% | 9.1% | 10.7% | | Net worth | 28 | 57 | 150 | | Borrowings | 0.00 | 1.3 | 9.0 | | Return on equity | 54.0% | 111.6% | 8.4% | ## Non-recurring items (as described by management) - The gross carrying amount of a financial asset is written off when there is no realistic prospect of recovery. (p.414) - Other income includes interest income earned on financial assets carried at amortized cost, interest income on fair valuation of mutual funds, profit on sale of investments, gain on sub-lease, foreign exchange difference (net), and miscellaneous business income. (p.415) - Other expenses include audit fees, bank charges, bad debts, brokerage and commission, business promotion expenses, contractor charges, CSR expenses, donation, freight, PPE written off, insurance, power and water charges, land aggregation charges, loss from foreign exchange transactions, legal and professional charges-admin, miscellaneous expenses, office maintenance, other approvals, advances written off, printing & stationery expenses, registration & filings, rent-building, rent-plant & machinery, asset management & maintenance, repair & maintenance expenses, rates and taxes, software expenses, site expenses, sitting fee, expected credit loss on trade receivables, technical service, and travelling, lodging, boarding and food expenses. (p.416) - Other income increased by 68.14% to ₹3.38 Crore for Fiscal 2026 from ₹2.01 Crore for Fiscal 2025, primarily due to an increase in interest income, sub-lease, interest income, profit on sale of investment, and gain on sublease. (p.417) ## Use of proceeds (fresh issue) - Funding the incremental working capital requirements of our Company;: ₹140 crore - Green Assets Private Limited for financing capital expenditure towards procurement of wind turbine generators and associated equipment 597.00* 68.23# 528.77*: amount not fixed yet - Investment in our Subsidiary, Integrum Green Assets Private Limited for the Repayment/ prepayment, in full or in part, of certain outstanding borrowings: ₹5.0 crore - Payment of consideration for strategic investment and acquisition of a controlling interest in Stactiv Energy Services Private Limited: ₹3.2 crore - General corporate purposes (3): amount not fixed yet ## Fact-checked claims - **LOW** (LitigationStatus): Expert opinions have been received from Shree Yashashree Energy Consultants Private Limited, Independent Consultant, to include their name as required under Section 26(5) of the Companies Act, 2013 read with the SEBI ICDR Regulations.. Search result [5] mentions SHREE YASHASHREE ENERGY CONSULTANTS PRIVATE LIMITED, which is related to the name mentioned in the claim. However, the results do not explicitly confirm that this entity was included as an expert opinion under Section 26(5) of the Companies Act, 2013 read with SEBI ICDR Regulations. - **NONE** (PromoterBackground): Puneet Goel is the Promoter and Whole-time Director and Chief Operating Officer of the Company.. No web search results were found for the claim regarding Puneet Goel being the Promoter, Whole-time Director, and Chief Operating Officer of Integrum Energy Infrastructure Limited. - **NONE** (PromoterBackground): Anand Lahoti is the Promoter, Chairman, Managing Director, and Chief Executive Officer of the Company.. No web search results were found to corroborate, contradict, or provide any information regarding the claim that Anand Lahoti is the Promoter, Chairman, Managing Director, and Chief Executive Officer of Integrum Energy Infrastructure Limited. - **NONE** (PromoterBackground): The Promoters collectively hold 7,47,75,610 Equity Shares, which equates to 90.66% of the issued, subscribed and paid-up Equity Share capital.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the Promoters holding 90.66% of the equity shares. - **NONE** (PromoterBackground): Prabir Neogi is an Independent Director.. No web search results were found for the claim that Prabir Neogi is an Independent Director of Integrum Energy Infrastructure Limited. Therefore, no corroboration, contradiction, or new information could be provided. - **NONE** (PromoterBackground): Shyamsundar Maheswari is the Non-Executive Director.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Shyamsundar Maheswari is the Non-Executive Director of Integrum Energy Infrastructure Limited. - **NONE** (PromoterBackground): Puneet Goel is the Whole-time Director and Chief Operating Officer.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Puneet Goel is the Whole-time Director and Chief Operating Officer of Integrum Energy Infrastructure Limited. - **NONE** (PromoterBackground): Anand Lahoti is the Chairman, Managing Director, and Chief Executive Officer.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Anand Lahoti is the Chairman, Managing Director, and Chief Executive Officer of Integrum Energy Infrastructure Limited. - **NONE** (PromoterBackground): The Board comprises six Directors: two Executive Directors, one Non-Executive Director, and three Independent Directors, including a woman Independent Director.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the composition of the Board of Integrum Energy Infrastructure Limited as described in the claim. - **NONE** (PromoterBackground): Anand Lahoti has been associated with the Company since incorporation and holds various degrees and professional experience.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Anand Lahoti has been associated with the company since incorporation and holds various degrees and professional experience. - **NONE** (PromoterBackground): The company has not declared or paid any dividend on Equity Shares during the last three fiscal years and from April 1, 2026 until the date of the Draft Red Herring Prospectus.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the company's dividend declaration or payment history. - **NONE** (PromoterBackground): Puneet Goel has been associated with the Company since November 2022 and has extensive experience in finance and renewable energy.. No web search results were found to corroborate, contradict, update, or provide any new information regarding the association of Puneet Goel with Integrum Energy Infrastructure Limited since November 2022. ## Common questions ### How big is the Integrum Energy Infrastructure Limited IPO? Integrum Energy Infrastructure Limited's IPO comprises a fresh issue of 1,58,08,000 shares and an offer for sale of 82.42 lakh shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Integrum Energy Infrastructure Limited's revenue and profit? Integrum Energy Infrastructure Limited reported revenue from operations of ₹118 Cr in FY26, -83.0% versus FY25. Net profit was ₹13 Cr (FY25: ₹63 Cr). Revenue grew at a compound rate of -29.0% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Integrum Energy Infrastructure Limited? Promoters hold 90.7% of Integrum Energy Infrastructure Limited before the IPO. Largest holders listed: Shipra Goel (30.7%); Shyamsundar Maheswari (30.0%); Anand Lahoti (29.8%). ### How will Integrum Energy Infrastructure Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding the incremental working capital requirements of our Company; (₹140 Cr); Green Assets Private Limited for financing capital expenditure towards procurement of wind turbine generators and associated equipment 597.00* 68.23# 528.77 (amount not fixed yet); Investment in our Subsidiary, Integrum Green Assets Private Limited for the Repayment/ prepayment, in full or in part, of certain outstanding borrowings (₹5.0 Cr); Payment of consideration for strategic investment and acquisition of a controlling interest in Stactiv Energy Services Private Limited (₹3.2 Cr); General corporate purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Integrum Energy Infrastructure Limited's DRHP? We fact-checked 40 claims from the filing against the open web: 0 raised a high concern, 0 medium and 1 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Integrum Energy Infrastructure Limited do? Here’s a detail that almost nobody noticed about the INTEGRUM ENERGY INFRASTRUCTURE IPO: while the name is mentioned, there’s no explicit confirmation that Shree Yashashree Energy Consultants was actually included as an expert opinion under the Companies Act rules. ### Who manages the Integrum Energy Infrastructure Limited IPO? Book running lead managers: Mefcom Capital Markets Limited, Centrum Broking Limited, Centrum Capital Limited, Beeline Capital Advisors Private Limited. Registrar to the offer: KFIN TECHNOLOGIES LIMITED. Shares are proposed to list on BSE and NSE. ### Where can I read the original Integrum Energy Infrastructure Limited IPO documents? All 1 filing for Integrum Energy Infrastructure Limited (DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [INTEGRUM ENERGY INFRASTRUCTURE LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2026/1791371918993.PDF) (Draft Red Herring Prospectus, filed 7 Oct 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.