Indian Solar EPC company seeking to fund its working capital requirements and scale its operations through a well-defined geographic expansion plan.
Founded in 2010, the company is a pure-play solar EPC based in Pune (Maharashtra) with pan-India operations in 7 key solar states. Backed by an Indian conglomerate family group, the company undertakes engineering, procurement, construction, operations, and maintenance work under the guidance of an experienced management team. It is well-known as a pioneer in the industry, building India’s first private solar park, and has a decade of end-to-end project delivery expertise under its belt.
The company provides solutions across the board due to its presence across the entire value chain from the conceptualization of a project to its commission. These include:
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The company is looking to raise cumulative external net funding worth INR 370 crore over 5 years for its EPC business. The funding would be required in the form of non-fund-based credit which would help improve profitability and aid the company to be self-reliant in 3-4 years.
The net funding amount would increase as revenue increases but decline as a percentage of revenue owing to lower margin money requirements and higher internal accruals. A reduction in capital constraints and the cost of capital would enrich growth prospects in a growing market and increase competitiveness.
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