About RCRS Innovations IPO
RCRS Innovations IPO Details
RCRS Innovations IPO is a 100% book-built issue of 48.24 lakh equity shares, entirely a fresh issue of shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on December 09, 2025.
The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE SME platform. The book-running lead manager of the issue is Galactico Corporate Services Limited, while the registrar to the issue is Skyline Financial Services Private Limited.
RCRS Innovations IPO Date & Timeline
RCRS Innovations Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on December 09, 2025. However, the specific RCRS Innovations IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalize the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
RCRS Innovations IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
RCRS Innovations IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Capital |
| Total Issue Size | 48,24,000 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | - |
| Offer for Sale | - |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,31,25,000 shares |
| Share Holding Post Issue | 1,79,49,000 shares |
RCRS Innovations IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The RCRS Innovations IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
RCRS Innovations Ltd. was incorporated as a private limited company on August 22, 2019, in Delhi. Then, on December 12, 2023, the company converted into a public limited company, with a vision to participate in the burgeoning energy storage and solar power sectors.
From its operational office, the company maintains its efficient management of logistics and proximity to major industrial and commercial hubs in the NCR. The company is engaged in the manufacturing of customised lithium-ion battery packs and solar photovoltaic (PV) modules under the brand name “EXEGI.”
Operations & Product Range
Operations of RCRS Innovations Ltd. focus mainly on manufacturing and trading of Lithium-ion Battery Packs and Solar Photo-Voltaic (PV) Modules that can be used for various purposes, such as for EVs and energy storage, telecommunication, etc. The company does not just produce such equipment but also offers it for sale, thereby creating more opportunities for its customers. Potential customers of RCRS Innovations include individuals who deal with solar energy installation and even large industrial companies that require energy storage solutions tailored to specific needs.
Facilities & Capacity
RCRS Innovations Ltd. carries out all manufacturing and operational processes at its site in Sector 63, Noida, UP, with machinery and testing devices for Li-Ion battery packs and solar panels. As of September 30, 2025, the company has 250 MWh/year installed capacity for Lithium-ion battery packs, 100 MWh/year for Solar PV panels and 1,000 MWh/year for Battery Energy Storage Systems (BESS). The above facilities can be expanded depending on the contract size obtained by the company.
Brands & Market Presence
RCRS Innovations Ltd. manufactures a variety of energy solutions under its brand "EXEGI," showing its innovation in terms of quality when manufacturing renewable energy products. RCRS has received ISO certifications for its environmental management system because of its sustainable approach to running its business operations and its major market base is the local market, while being able to meet the international standards of quality. "EXEGI" serves as an alternative energy solution in the market and can provide custom services to the customers.
Revenue Streams & Business Model
The key source of income for RCRS Innovations Ltd. comes through sales of the produced battery packs and solar modules, along with trading of these components. During FY25, the company has earned a total income from operations to the tune of ₹132.76 crore and is primarily generated locally in India, especially north India. The company strategically utilises both trading and manufacturing activities to ensure that high margins, along with bulk requirements, are satisfied effectively.
Management & Shareholding
RCRS Innovations Ltd. is promoted by Aayush Goyal, Sarita Goyal, Vasu Goyal and Ravi Prakash Goyal. Before the IPO, the promoters held 97.29% stake in the company, but after the IPO, the promoters’ shareholding will be slightly diluted as the offering includes entirely a fresh issue of shares of 48.24 lakh shares.
Board & Key Management
The leadership of RCRS Innovations Ltd. is led by a team of experts with many years of experience. Ms. Tannu Shangle serves as the Chairman and gives strategic direction to the firm. The daily operations are managed by Mr. Aayush Goyal, the Managing Director, along with Whole-Time Directors. To ensure good governance, the board includes Independent Directors Ms. Tannu Shangle and Mr. Sagar Saxena for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
RCRS Innovations IPO Financial Information
Latest Revenue
12.56
₹ Crore
Profit After Tax
1.13
₹ Crore
Net Worth
28.21
₹ Crore
Total Borrowing
45.37
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 82.78 | 12.56 | 1.13 | 28.21 | 15.09 | 45.37 | |||
| 31 Mar 2025 | 80.79 | 133.49 | 11.47 | 27.16 | 14.04 | 45.49 | |||
| 31 Mar 2024 | 40.65 | 116.16 | 8.36 | 14.70 | 9.45 | 17.54 | |||
| 31 Mar 2023 | 24.75 | 67.80 | 1.42 | 1.99 | 1.49 | 13.83 | |||
| Amount in ₹ Crore | |||||||||
RCRS Innovations Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 24.63% |
| ROCE | - |
| Debt/Equity | 1.67 |
| RoNW | 42.23% |
| PAT Margin | 8.64% |
| EBITDA Margin | 13.15% |
| Price to Book Value | - |
RCRS Innovations IPO Objectives
The company intended to utilise the RCRS Innovations IPO proceeds for strategic purposes:
- • Repayment or prepayment of debt (in part or in full)
- • Funding the working capital requirements
- • General corporate purposes
RCRS Innovations IPO Review
RCRS Innovations Ltd. is positioned in one of the most promising sectors of the Indian economy—renewable energy and energy storage. As India moves toward its high renewable energy capacity goals and increased EV adoption, demand for Lithium-ion battery packs and solar modules is expected to remain strong. The company's combined manufacturing and branded presence through "EXEGI" allows it to capture value at multiple stages of the energy supply chain.
Financially, the company has shown growing and scalable financial statements; for FY25, the revenue from operations was reported at ₹132.76 crore and the profit was reported at ₹11.47 crore. Notably, the top 10 customers of the company have contributed around ₹39.08 crore, which is 57.67% of the total income.
However, the investors must be aware of the potential risks, including the volatility of raw material prices, particularly for Lithium-ion cells and the rapid pace of technological change in the battery industry. Overall, the company's future success will depend on its ability to maintain margins while scaling capacity and staying ahead of technological advancements.
Conclusion
RCRS Innovations IPO provides an opportunity for investors to participate in a company at the heart of India's green energy movement. From its beginning, the company has demonstrated its ability to scale in a complex industrial environment by engaging in the customisation of lithium-ion battery packs and PV modules. With this listing, the company aims to strengthen its capital base and reduce debt and expand its operations under the "EXEGI" brand.
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Competitive Strengths
Integrated product portfolio offering both solar PV modules and battery storage systems under the single "EXEGI" brand.
Established brand presence recognised domestically for quality and reliability in the Lithium-ion battery segment.
Scalable manufacturing facility in Noida designed to handle increased production volumes with minimal lead times.
Experienced management team with a deep understanding of the energy market and a strong revenue scaling track record.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 0 | 0 | 0 |
| Individual investors (Retail) (Max) | 0 | 0 | 0 |
| S-HNI (Min) | 0 | 0 | 0 |
| S-HNI (Max) | 0 | 0 | 0 |
| B-HNI (Min) | 0 | 0 | 0 |