Pragyawan Technologies has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an IPO comprising a ₹400 crore fresh issue and an Offer for Sale (OFS) of up to 15 million equity shares with a face value of ₹2 each. According to The Economic Times, the proposed public issue also includes an offer-for-sale component, with promoters Puneet Jain and his wife Shefali Jain as selling shareholders. The company may consider raising additional funds worth shares up to ₹80 crore before filing the Red Herring Prospectus, which would reduce the fresh issue size if undertaken.
As reported by The Economic Times, Pragyawan Technologies plans to allocate ₹400 crore of proceeds from the fresh issue for working capital requirements, with the remainder funds designated for general corporate purposes. The offer-for-sale component will provide funds directly to the selling shareholders. The merchant banker managing the IPO is Pantomath Capital Advisors, who serves as the sole book running lead manager to the public issue. The company will use the fresh issue proceeds primarily to meet its working capital requirements, amounting to ₹400 crore, while the remaining funds will be deployed for general corporate purposes.
According to The Economic Times, the company operates through two business verticals: skill development, focused on training products and capacity building solutions, and utility solutions providing execution and operation & maintenance services across power, water, renewable energy and allied infrastructure segments. The skill development and utility solutions segments contributed to topline in a ratio of 76:24 during the nine months ended December 2025. The company has a pan-India presence across 29 states and Union Territories, delivering projects across sectors including education, power, water, renewable energy, and telecom through an integrated business model that encompasses procurement, contract manufacturing, system integration, project execution, and lifecycle support.
As reported by The Economic Times, the company's financial performance has been robust in recent years, driven by its diversified portfolio and execution capabilities. Profit after tax grew 65.7% to ₹39.9 crore in the fiscal year ended March 2025, compared to ₹24.1 crore in the previous year. Revenue during the same period increased 69.7% to ₹359.4 crore from ₹211.7 crore. For the nine months period ended December 2025, the company recorded profit of ₹99 crore and revenue of ₹777 crore. The company's integrated approach combines procurement, contract manufacturing, system integration, project execution, and lifecycle support, enabling it to execute specification-driven projects across multiple geographies in India.
