# Ultravibrant Integrated Energy Limited: IPO analysis > Ultravibrant Integrated Energy Limited (CIN U42201RJ2019PLC065423) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 1,20,00,000 shares and an offer for sale of 25 lakh shares. In FY26 it reported revenue of ₹384 Cr (+57.3% on FY25) and a net profit of ₹34 Cr. Promoters hold 87.5% before the IPO. Our fact-check of its claims found 2 medium or high concerns across 25 claims checked. - Page: https://ipo.innerkore.com/company/U42201RJ2019PLC065423/ultravibrant-integrated-energy-limited/ - CIN: U42201RJ2019PLC065423 - Last updated: 29 Sep 2026 ## Key facts - **Company:** Ultravibrant Integrated Energy Limited - **CIN:** U42201RJ2019PLC065423 - **Filing stage:** DRHP - **Latest SEBI filing:** 29 Sep 2026 - **Offer for sale:** 25,00,000 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹384 Cr - **Revenue growth:** +57.3% - **Net profit FY26:** ₹34 Cr - **Revenue CAGR FY24 to FY26:** 236.1% - **Promoter holding (pre-IPO):** 87.5% - **Lead managers:** Beeline Capital Advisors Private Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 2 high, 0 medium, 4 low ## Key signals (read from the filing; not investment advice) - **Growth** (looks fine): 236.1% a year. Sales FY24 to FY26; latest year +57.3%. - **Profitability** (look closer): 8.9% net margin. FY26; operating margin improving. - **Debt** (concern): 2.09x equity. ₹123 crore borrowed at the end of FY26. - **Profit into cash** (look closer): 42% of profit. Operations brought in ₹14.3 crore against ₹34.1 crore of profit in FY26. - **One-off income** (look closer): 3% of profit. Other and one-off income is 3% of pre-tax profit; management describes 3 one-off items. - **Where the money goes** (looks fine): 17% for sale. 83% is new shares issued by the company. 26% of the new money repays debt. - **Red flags** (concern): 2 to review. 25 claims checked: 2 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 34 | 244 | 384 | | Sales growth | – | 617.8% | 57.3% | | Operating profit | 2.2 | 27 | 57 | | Operating margin | 6.4% | 11.0% | 14.8% | | Net profit | 1.6 | 20 | 34 | | Net margin | 4.7% | 8.2% | 8.9% | | Net worth | 2.3 | 22 | 59 | | Borrowings | 0.47 | 23 | 123 | | Return on equity | 68.2% | 89.4% | 57.7% | ## Non-recurring items (as described by management) - Depreciation is recognized so as to write off the cost of asset (other than properties under construction) less their residual values (after considering the restoration cost) over their useful lives using straight line method as prescribed in schedule II of Companies Act, 2013. (p.433) - Other income in Fiscal 2026 also included government grant income of ₹0.27 lakhs. (p.444) - Write-offs increased to ₹13.14 lakhs in Fiscal 2025 from nil in Fiscal 2024. (p.450) ## Use of proceeds (fresh issue) - Funding long-term working capital requirements of our Company: ₹62 crore - 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 crore - General corporate purposes(1)(2): amount not fixed yet ## Fact-checked claims - **HIGH** (LitigationStatus): There are no outstanding litigation proceedings involving Group Companies that may have a material impact on the Company as of the Draft Red Herring Prospectus date.. The search results indicate a notice of demand under a Recovery Certificate (number 9299 of 2026) related to Ultravibrant Integrated Energy Limited, which suggests an outstanding legal matter. This directly contradicts the claim that there are no outstanding litigation proceedings involving group companies. - **HIGH** (LitigationStatus): There are no outstanding litigation proceedings involving Key Managerial Personnel and Senior Management against them as of the Draft Red Herring Prospectus date.. Search results indicate a notice of demand under a Recovery Certificate (number 9299 of 2026) related to Ultravibrant Integrated Energy Limited, which suggests there might be ongoing or past legal/recovery proceedings. This directly contradicts the claim that there are no outstanding litigation proceedings involving Key Managerial Personnel and Senior Management. - **LOW** (SubsidiaryPerformance): Zodiac Energy Limited provides solar energy and power generation solutions across various applications.. The search results confirm the existence and trading information for a company named Zodiac Energy Ltd., which is related to the claim. However, the search snippets do not explicitly detail the specific solar energy and power generation solutions provided by Zodiac Energy Limited. - **LOW** (SubsidiaryPerformance): Solarium Green Energy Limited provides integrated solar energy solutions across residential, commercial, industrial, and government segments.. The search results confirm that Solarium Green Energy Ltd. engages in the development of renewable energy solutions and provides turnkey solar solutions, including design, according to one source. However, the search results do not explicitly detail that these solutions are provided across the specific segments mentioned in the DRHP (residential, commercial, industrial, and government). - **LOW** (SubsidiaryPerformance): UVSE Project Sixteen Private Limited was incorporated on July 25, 2024.. Search result [1] mentions UVSE PROJECT SIXTEEN PRIVATE LIMITED with a CIN, but it does not specify the incorporation date of July 25, 2024. Search result [2] mentions the same entity but in the context of an amalgamation, and does not provide the incorporation date. - **LOW** (SubsidiaryPerformance): UVSE Project Twelve Private Limited was incorporated on July 15, 2024.. Search result [3] mentions UVSE PROJECT TWELVE PRIVATE LIMITED in a document dated August 5, 2024, which is close to the claimed incorporation date of July 15, 2024. However, the search results do not explicitly confirm or deny the exact incorporation date mentioned in the DRHP claim. - **NONE** (SubsidiaryPerformance): India's Real GVA for FY 2026 is estimated to reach INR 294.91 lakh crore, indicating a growth rate of 7.9% in 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding India's Real GVA for FY 2026 or the stated growth rate. - **NONE** (SubsidiaryPerformance): India's Real GDP for FY 2026 is estimated to reach INR 323.12 lakh crore, representing a growth rate of 7.7% in 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding India's real GDP for FY 2026 as stated in the DRHP claim. - **NONE** (SubsidiaryPerformance): All Power Purchase Agreements (PPAs) mentioned have a term of 25 years as of August 31, 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that all Power Purchase Agreements (PPAs) mentioned have a term of 25 years as of August 31, 2026. - **NONE** (SubsidiaryPerformance): Ultravibrant Integrated Energy Limited offers services across solar EPC, independent power producer (IPP) projects, and operations and maintenance (O&M) services.. No current web search results were found to corroborate, contradict, or provide any information regarding the services offered by Ultravibrant Integrated Energy Limited as described in the DRHP. - **NONE** (SubsidiaryPerformance): Waaree Renewable Technologies Limited has manufacturing facilities in India and the U.S. and has executed over 10,000 projects.. No current web search results were found to corroborate, contradict, update, or provide any information regarding Waaree Renewable Technologies Limited's manufacturing facilities or the number of projects executed. - **NONE** (LitigationStatus): There is a pending civil writ petition filed by the Company against the State of Rajasthan and Ors. in the High Court of Judicature for Rajasthan, Jaipur Bench regarding a tender for Battery Energy Storage Systems (BESS).. The provided search results do not contain any information confirming or denying the existence of a pending civil writ petition filed by Ultravibrant Integrated Energy Limited against the State of Rajasthan regarding a tender for Battery Energy Storage Systems (BESS). ## Common questions ### How big is the Ultravibrant Integrated Energy Limited IPO? Ultravibrant Integrated Energy Limited's IPO comprises a fresh issue of 1,20,00,000 shares and an offer for sale of 25 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 Ultravibrant Integrated Energy Limited's revenue and profit? Ultravibrant Integrated Energy Limited reported revenue from operations of ₹384 Cr in FY26, +57.3% versus FY25. Net profit was ₹34 Cr (FY25: ₹20 Cr). Revenue grew at a compound rate of 236.1% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Ultravibrant Integrated Energy Limited? Promoters hold 87.5% of Ultravibrant Integrated Energy Limited before the IPO. ### How will Ultravibrant Integrated Energy Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding long-term working capital requirements of our Company (₹62 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 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 Ultravibrant Integrated Energy Limited's DRHP? We fact-checked 25 claims from the filing against the open web: 2 raised a high concern, 0 medium and 4 low. The most notable: The search results indicate a notice of demand under a Recovery Certificate (number 9299 of 2026) related to Ultravibrant Integrated Energy Limited, which… Search results indicate a notice of demand under a Recovery Certificate (number 9299 of 2026) related to Ultravibrant Integrated Energy Limited, which… This is an automated screen, not a verdict; each finding links to its sources. ### What does Ultravibrant Integrated Energy Limited do? Here’s what almost nobody noticed: search results show a demand notice under a Recovery Certificate, number 9299 of 2026, was filed against Ultravibrant Integrated Energy Limited. That fact directly contradicts the official statement claiming there are no ongoing litigation proceedings involving their key management. ### Who manages the Ultravibrant Integrated Energy Limited IPO? Book running lead managers: Beeline Capital Advisors Private Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Ultravibrant Integrated Energy Limited IPO documents? All 1 filing for Ultravibrant Integrated Energy 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 - [ULTRAVIBRANT INTEGRATED ENERGY LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1790681405842_1375.pdf) (Draft Red Herring Prospectus, filed 29 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.