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08 Aug, 2025
Gurgaon-based Earthood Services Limited, a leading player in the Environmental, Social and Governance (ESG) sector, has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), signaling its intent to launch an Initial Public Offering (IPO). This marks a significant milestone as the company prepares for its market debut through a pure Offer for Sale (OFS) structure.
The upcoming IPO will be entirely as an Offer for Sale, with up to 6.29 million equity shares being divested by the company’s promoters. Dr. Kaviraj Singh plans to sell up to 4.29 million shares, while Ashok Kumar Gautam will offload up to 2 million shares. Eligible employees will also have a reserved portion with a discount. The book-building process will allocate at least 75% of the net offer to qualified institutional buyers (QIBs), with the remainder divided between non-institutional and retail investors. The shares are proposed to be listed on both the National Stock Exchange (NSE) and the BSE.
Founded in 2012 by Dr. Kaviraj Singh and Ashok Kumar Gautam, Earthood Services has grown into a global leader in carbon validation, verification and ESG advisory services. With headquarters in Gurgaon, Haryana, the company leverages the founders’ extensive experience in energy and climate change to deliver innovative sustainability solutions.
Earthood specializes in carbon validation and verification, enabling businesses to neutralize their carbon footprints through verified offset solutions. Its services extend to ESG advisory, life cycle assessment, climate risk evaluation and the creation of detailed ESG roadmaps. The company also supports sustainable agriculture through Farmer Producer Organization (FPO) advisory. Earthood operates offices in India, the UK, Russia, Turkey and the UAE, serving over 400 clients across 132 countries, including major projects such as certifying the Delhi Metro Rail Corporation's Metro Bhawan as carbon neutral.
The company holds accreditations from over 21 prestigious organizations, including the United Nations, VERRA, Gold Standard and the Global Carbon Council. Recognized as the world’s largest carbon offset verifier, Earthood has executed a record number of projects annually, according to United Nations data. Its proprietary digital platform, Earthlink, further enhances its reporting and verification capabilities.
Earthood Services has shown impressive financial growth, with revenue from operations increasing by 44.46% to ₹46.79 crore in FY24 from ₹32.39 crore in FY23. Profit after tax (PAT) surged by 80.11% to ₹19.34 crore in FY24 compared to ₹10.73 crore the previous year. The company also increased the number of projects executed from 169 in FY23 to 219 in FY24, reflecting its expanding operational scale.
Earthood Services Limited’s IPO is a crucial step in its journey toward becoming a publicly traded company. With strong financials, a growing global footprint and leadership in the ESG and carbon verification space, Earthood is well-positioned to capitalize on the rising demand for sustainability solutions. As global climate regulations tighten and ESG compliance becomes increasingly vital, Earthood’s expertise and innovative services are expected to drive its continued growth and market success.
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