Upcoming IPO: Gurgaon-based Earthood Services files DRHP with SEBI to raise funds via IPO; Details here

Upcoming IPO: Earthood Services Limited filed its preliminary draft papers with the capital markets regular Securities and Exchange Board of India (SEBI) on Friday, December 27, to raise funds via an initial public offering (IPO). According to the company's draft red herring prospectus, the proposed IPO comprises a fresh issue component of 36 lakh equity shares and an offer for sale (OFS) of up to 42 lakh equity shares by promoters. 

Earthood Services may consider raising ₹10 crore in a pre-IPO placement round. Once the placement is completed, the fresh issue size will be reduced. The offer also includes a subscription reservation by eligible employees. 

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Earthood Services IPO, Company Details

The proceeds from the fresh issue, up to ₹30 crore, will be used for funding requirements to strengthen technological capabilities. Unistone Capital is the sole book-running lead manager to Earthood Services IPO. The equity shares are proposed to be listed on stock exchanges NSE and BSE.

The Gurugram-based company specialises in providing Environmental, Social, and Governance (ESG) advisory and assurance services to clients in India and internationally. While its primary focus is on facilitating ESG services, Earthood also provides advisory support for forming and promoting Farmer Producer Organisations (FPOs)—entities owned and managed by farmers—which form a smaller part of its operations.

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Over the years, the company has executed notable projects, such as certifying the Delhi Metro Rail Corporation’s Metro Bhawan as carbon neutral and conducting environmental audits for the Indian Army’s Pulgaon military railway station, providing actionable recommendations to reduce CO2 emissions.

Over the last three fiscal years, Earthood Services has served more than 400 clients across 132 countries. The company’s revenue from operations increased by 44.46 per cent to ₹46.79 crore in fiscal 2024 from ₹32.39 crore in fiscal 2023 and profit after tax rose by 80.11 per cent to ₹19.34 crore in fiscal 2024 from ₹10.73 crore in fiscal 2023.

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