Aegeus Technologies Ltd IPO
Status: Closed
Overview
IPO date
04 Aug 2026 to 06 Aug 2026
Face value
₹ 10 per share
Price
₹ 100 to ₹105 per share
Issue Size
2,258,400 shares
(aggregating up to ₹ 23.71 Cr)
(aggregating up to ₹ 23.71 Cr)
Allotment Date
07 Aug 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Electronics
Unlock Stock of the Month
T&C*
Strengths vs Risks of Aegeus Technologies Ltd
Know the pros & cons
Strengths
- Designing and execution capabilities.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our consumers.
- Quality assurance and control.
Risks
- We depend on a limited number of customers for a significant portion of our revenues. The loss of a major customer or significant reduction in demand from any of our major customers may adversely affect our business, financial condition, results of operations and profitability.
- Unpredictable soiling patterns, seasonal variations and extreme weather events could materially and adversely affect the company's business, financial condition, results of operations and cash flows.
- Manufacturing or quality control issues in the company's products could adversely affect its business and reputation.
- Limited market adoption of robotic solar panel cleaning solutions and uncertainty regarding industry maturity.
- Rapid technological change and risk of obsolescence in robotic cleaning solutions.
- There are outstanding legal proceedings involving our Company as well as our promoter/promoter group, Key Managerial personel (KMPs) and Senior Manager Personel . Any adverse outcome on such proceedings may affect our business, financial condition and reputation.
- Dependence on timely completion of land acquisition and construction for capacity expansion.
- Our Top 10 Suppliers contribute a significant portion of our raw material Any dispute with one or more of them may adversely affect our business operations.
- Under-utilization of our current manufacturing facility and any inability to effectively utilize our manufacturing capacity could have an adverse effect on our business, future prospects and financial performance.
- Risks related to allocation of net proceeds towards product development.
- A significant portion of the company's revenue is derived from the unicorn smart product.
- Our Company requires significant amount of working capital for a continuing growth. Our inability to meet our working capital requirements may adversely affect our results of operations.
- Our company's property used as its Registered offices and factory for the purpose of its operations is not owned by us. Any termination of the relevant lease agreements could adversely affect our operations.
- We had negative cash flows from operating, investing and financing activities as per the restated financial statements in the past and may continue to have negative cash flows in the future.
- Our recent revenue and profitability growth may not be sustainable, and any adverse changes in market conditions, supplier arrangements or costs could adversely affect our financial performance.
- Our Company is dependent on third parties for the supply of raw materials required for our products and is exposed to risks relating to fluctuations in prices and shortage of raw materials. Further, we do not have any long-term supply agreements with the raw material providers.
- Reliance on key promoters, senior management, and technical personnel for business continuity.
- The Pre-IPO shareholding of our promoters and promoter group is 64.75% and the post-IPO shareholding will remain 47.29%. The market's perception of their reduced shareholding may impact the valuation and liquidity of their shares.
- We do not have long-term arrangements with online platforms, event organizers, or other marketing partners, which may affect the continuity and effectiveness of our marketing initiatives.
- Our Company have made delays/Non-Compliance with certain statutory provisions of the Companies Act, 2013 and Foreign Exchange Management Act, 1999. Such delayed filings/Non-Compliance may attract penalties and prosecution against the Company and its directors, which could impact the financial position of the Company to that extent.
- Our Company may incur penalties or liabilities for non-compliance with certain provisions of the GST Act, Income Tax and other applicable laws in the last 5 years.
- The Company has entered into certain related party transactions in the past and may continue to do so in the future.
- Our Company has obtained unsecured loans amounting to Rs. 531.33 Lakhs on the basis of restated consolidated financial statements that may be recalled by the lenders at any time.
- We may not be able to prevent infringement or unauthorized use of our trademarks and patents, which could dilute our competitive advantage and adversely affect our business, results of operations, and financial condition.
- Our insurance coverage in connection with our business may not be adequate and may adversely affect our operations and profitability.
- Our Company's operation and growth is dependent upon successful implementation of our business strategies.
- Cybersecurity threats continue to increase in frequency and sophistication. A successful cybersecurity attack could interrupt or disrupt our information technology systems, softwares, websites, applications or cause the loss of confidential or protected data, which could disrupt our business, force us to incur excessive costs or cause reputational harm.
- In addition to normal remuneration, other benefits and reimbursement of expenses, some of our directors (including our Promoters) and Key Management Personnel are interested in our Company to the extent of their shareholding and dividend entitlement in our Company.
- If we fail to maintain an effective system of internal controls, we may not be able to successfully manage or accurately report our financial risk.
- None of our company's Board of Directors does not have experience of listed companies.
- Expansion into new market segments and diversification of our products and services may expose us to operational challenges and may adversely affect our growth and profitability.
- Fluctuation of Interest rate may adversely affect the Company's business.
- Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and U.S. GAAP, which may be material to investors' assessments of our financial condition, result of operations and cash flows.
- Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Our Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuations.
- Our Company's operation and growth is dependent upon successful implementation of our business strategies.
- The Company has not paid any dividends in the past 3 financial years and its ability to pay dividends in the future may be affected by any material adverse effect on the company's future earnings, financial condition or cash flows.
- Our business operations are significantly dependent on the continued involvement of our Promoters, senior management, and other key personnel. The loss of any of these individuals, or our inability to attract and retain qualified and experienced professionals, could adversely impact our business performance, results of operations, financial condition, and cash flows.
- This Red Herring Prospectus contains information from third parties, including an industry report prepared by an independent third-party research agency, Infomerics Analytics and Research Private Limited, which we have commissioned and paid for purposes of confirming our understanding of the industry exclusively in connection with the Offer.
- The company could be harmed by employee misconduct, errors, fraud, theft, misbehaviour, negligence, or data theft, which are difficult to detect, and any such incidents could adversely affect its financial condition, results of operations, and reputation.
- Absence of directly comparable listed peers may limit the relevance of industry comparisons used for valuation and investor analysis.
- Changes in privacy and data protection laws could result in claims and may adversely affect the company's business, financial condition, and growth prospects.
- The equity shares may be delayed in listing or may not be listed on the SME platform of BSE Limited, which could adversely affect the liquidity of the equity shares.
- The Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by it, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
- The average cost of acquisition of Equity Shares by the company's Promoters is lower than the issue price.
- The company is subject to certain covenants under its borrowing arrangements, and any breach of these covenants may adversely affect the company's business, financial condition, and operations.
- The company's present promoters are first-generation entrepreneurs and their limited experience in managing a listed company may adversely affect its business and growth prospects.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the issue proceeds may delay the implementation schedule.
- Compliance with public listing requirements and increased regulatory scrutiny may strain the company's resources and adversely affect its business operations.
- The company's independent directors does not possess educational qualifications relevant to its business operations, which may affect their ability to provide effective oversight.
Aegeus Technologies Ltd Peer Comparison
Understand the company’s industry standing
Aegeus technologies Ltd
Face Value
10
Standalone / Consolidated
Consolidated
Total Income Rs. Cr.
---
EPS-Basis
6.57
EPS-Diluted
---
NAV Per Share
25.18
P/E-Basic EPS
---
P/E-Diluted EPS
---
RONW(%)
29.93
Latest NAV Period
---
Latest NAV
---
How to check the allotment status of Aegeus Technologies Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
IPO reads
Stay updated with the latest IPO developments
February 27, 2025 | 5 min read
₹50.11 Cr Balaji Phosphates IPO Opens Feb 28. Issue Details and SWOT AnalysisRead More
February 25, 2025 | 5 min read
Tata Capital Board Approves ₹15,000 Cr Plus Mega IPO; Tata Investment Shares Soar 8%Read More
February 18, 2025 | 5 min read
Busy Week Ahead: 2 SME IPOs and 9 Market Listings – Get the Complete Details HereRead More
October 25, 2024 | 5 min read
Waaree Energies IPO: GMP Soars 106% Amid 76.34x Subscription – Check Your Allotment Status!Read More
October 22, 2024 | 5 min read
Upcoming IPOs: 9 Public Issues Set to Raise ₹10,984.8 Cr – Key Insights Inside!Read More
October 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons WhyRead More
September 6, 2024 | 5 min read
Bajaj Housing Finance IPO: All You Need to KnowRead MoreOctober 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons WhyRead More
August 26, 2024 | 5 min read
Premier Energies IPO: Key Details Ahead of the ₹2,830.40 Cr Issue LaunchRead MoreMore on IPOs
Navigate your way to other IPO resources
Latest videos on IPOs
IPO highlights & details!
FAQs on IPO
Get answers to all your questions here!
The IPO opens on 04 Aug 2026 & closes on 06 Aug 2026.
Aegeus Technologies Limited was incorporated as a Private Limited Company with the name of 'Aegeus Technologies Private Limited' under the Companies Act, 2013 vide certificate of incorporation dated April 20, 2017, issued by Registrar of Companies, Central Registration Centre. Further, Company was converted into a Public Limited Company and the name changed to 'Aegeus Technologies Limited' & Registrar of Companies, Central Processing Centre has issued a new certificate of incorporation dated August 08, 2024.
Company designs and develops advanced robotic and intelligent automation solutions for solar energy industry, focusing on waterless robotic cleaning and O&M optimization. Headquartered in Bengaluru, it operate two integrated manufacturing facilities for the design, assembly, and testing of autonomous systems. Leveraging robotics, AI, ML, and IoT, it provide a comprehensive suite of solutions. The flagship cleaning robots- Unicorn and Shreem-serve ground-mounted and rooftop plants. With patented technologies across multiple countries, it maintain strong technological leadership and deliver scalable, efficient, and sustainable solutions to major solar developers and O&M providers.
Company has filed a Red Herring Prospectus with SEBI & is planning for IPO of 22,58,400 Equity shares of Rs 10 each through Fresh Issue.
Aegeus Technologies Ltd IPO will close on 06 Aug 2026.
- Designing and execution capabilities.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our consumers.
- Quality assurance and control.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Suraj Vernekar'D | 2640290 | 43.17 | 2640290 | 31.53 |
| 2 | Roopa Vernakar | 5616 | 0.09 | 5616 | 0.07 |
| 3 | Nishith Rameshchandra Shah | 1314212 | 21.49 | 1314212 | 15.69 |
- We depend on a limited number of customers for a significant portion of our revenues. The loss of a major customer or significant reduction in demand from any of our major customers may adversely affect our business, financial condition, results of operations and profitability.
- Unpredictable soiling patterns, seasonal variations and extreme weather events could materially and adversely affect the company's business, financial condition, results of operations and cash flows.
- Manufacturing or quality control issues in the company's products could adversely affect its business and reputation.
- Limited market adoption of robotic solar panel cleaning solutions and uncertainty regarding industry maturity.
- Rapid technological change and risk of obsolescence in robotic cleaning solutions.
- There are outstanding legal proceedings involving our Company as well as our promoter/promoter group, Key Managerial personel (KMPs) and Senior Manager Personel . Any adverse outcome on such proceedings may affect our business, financial condition and reputation.
- Dependence on timely completion of land acquisition and construction for capacity expansion.
- Our Top 10 Suppliers contribute a significant portion of our raw material Any dispute with one or more of them may adversely affect our business operations.
- Under-utilization of our current manufacturing facility and any inability to effectively utilize our manufacturing capacity could have an adverse effect on our business, future prospects and financial performance.
- Risks related to allocation of net proceeds towards product development.
- A significant portion of the company's revenue is derived from the unicorn smart product.
- Our Company requires significant amount of working capital for a continuing growth. Our inability to meet our working capital requirements may adversely affect our results of operations.
- Our company's property used as its Registered offices and factory for the purpose of its operations is not owned by us. Any termination of the relevant lease agreements could adversely affect our operations.
- We had negative cash flows from operating, investing and financing activities as per the restated financial statements in the past and may continue to have negative cash flows in the future.
- Our recent revenue and profitability growth may not be sustainable, and any adverse changes in market conditions, supplier arrangements or costs could adversely affect our financial performance.
- Our Company is dependent on third parties for the supply of raw materials required for our products and is exposed to risks relating to fluctuations in prices and shortage of raw materials. Further, we do not have any long-term supply agreements with the raw material providers.
- Reliance on key promoters, senior management, and technical personnel for business continuity.
- The Pre-IPO shareholding of our promoters and promoter group is 64.75% and the post-IPO shareholding will remain 47.29%. The market's perception of their reduced shareholding may impact the valuation and liquidity of their shares.
- We do not have long-term arrangements with online platforms, event organizers, or other marketing partners, which may affect the continuity and effectiveness of our marketing initiatives.
- Our Company have made delays/Non-Compliance with certain statutory provisions of the Companies Act, 2013 and Foreign Exchange Management Act, 1999. Such delayed filings/Non-Compliance may attract penalties and prosecution against the Company and its directors, which could impact the financial position of the Company to that extent.
- Our Company may incur penalties or liabilities for non-compliance with certain provisions of the GST Act, Income Tax and other applicable laws in the last 5 years.
- The Company has entered into certain related party transactions in the past and may continue to do so in the future.
- Our Company has obtained unsecured loans amounting to Rs. 531.33 Lakhs on the basis of restated consolidated financial statements that may be recalled by the lenders at any time.
- We may not be able to prevent infringement or unauthorized use of our trademarks and patents, which could dilute our competitive advantage and adversely affect our business, results of operations, and financial condition.
- Our insurance coverage in connection with our business may not be adequate and may adversely affect our operations and profitability.
- Our Company's operation and growth is dependent upon successful implementation of our business strategies.
- Cybersecurity threats continue to increase in frequency and sophistication. A successful cybersecurity attack could interrupt or disrupt our information technology systems, softwares, websites, applications or cause the loss of confidential or protected data, which could disrupt our business, force us to incur excessive costs or cause reputational harm.
- In addition to normal remuneration, other benefits and reimbursement of expenses, some of our directors (including our Promoters) and Key Management Personnel are interested in our Company to the extent of their shareholding and dividend entitlement in our Company.
- If we fail to maintain an effective system of internal controls, we may not be able to successfully manage or accurately report our financial risk.
- None of our company's Board of Directors does not have experience of listed companies.
- Expansion into new market segments and diversification of our products and services may expose us to operational challenges and may adversely affect our growth and profitability.
- Fluctuation of Interest rate may adversely affect the Company's business.
- Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and U.S. GAAP, which may be material to investors' assessments of our financial condition, result of operations and cash flows.
- Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Our Company is subject to foreign exchange control regulations which can pose a risk of currency fluctuations.
- Our Company's operation and growth is dependent upon successful implementation of our business strategies.
- The Company has not paid any dividends in the past 3 financial years and its ability to pay dividends in the future may be affected by any material adverse effect on the company's future earnings, financial condition or cash flows.
- Our business operations are significantly dependent on the continued involvement of our Promoters, senior management, and other key personnel. The loss of any of these individuals, or our inability to attract and retain qualified and experienced professionals, could adversely impact our business performance, results of operations, financial condition, and cash flows.
- This Red Herring Prospectus contains information from third parties, including an industry report prepared by an independent third-party research agency, Infomerics Analytics and Research Private Limited, which we have commissioned and paid for purposes of confirming our understanding of the industry exclusively in connection with the Offer.
- The company could be harmed by employee misconduct, errors, fraud, theft, misbehaviour, negligence, or data theft, which are difficult to detect, and any such incidents could adversely affect its financial condition, results of operations, and reputation.
- Absence of directly comparable listed peers may limit the relevance of industry comparisons used for valuation and investor analysis.
- Changes in privacy and data protection laws could result in claims and may adversely affect the company's business, financial condition, and growth prospects.
- The equity shares may be delayed in listing or may not be listed on the SME platform of BSE Limited, which could adversely affect the liquidity of the equity shares.
- The Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by it, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
- The average cost of acquisition of Equity Shares by the company's Promoters is lower than the issue price.
- The company is subject to certain covenants under its borrowing arrangements, and any breach of these covenants may adversely affect the company's business, financial condition, and operations.
- The company's present promoters are first-generation entrepreneurs and their limited experience in managing a listed company may adversely affect its business and growth prospects.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the issue proceeds may delay the implementation schedule.
- Compliance with public listing requirements and increased regulatory scrutiny may strain the company's resources and adversely affect its business operations.
- The company's independent directors does not possess educational qualifications relevant to its business operations, which may affect their ability to provide effective oversight.
The Issue type of Aegeus Technologies Ltd is Book Building - SME.
The minimum application for shares of Aegeus Technologies Ltd is 2400.
The total shares issue of Aegeus Technologies Ltd is 2258400.
Initial public offering up to 22,58,400 equity shares of Rs. 10/- each ("Equity Shares") of Aegeus Technologies Limited ("ATL" or the "Company" or the "Issuer") for cash at a price of Rs. 105 per equity share including a share premium of Rs. 95 per equity share (the "Issue Price") aggregating to Rs. 23.71 Crores ("the Issue"). The issue includes a reservation of upto 3,25,200 equity shares aggregating to Rs. 3.41 Crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. Net issue of upto 19,33,200 equity shares aggregating to Rs. 20.30 Crores (the "Net Issue"). The public issue and net issue will constitute 26.97% and 23.08% respectively of the post-issue paid-up equity share capital of the company.
Price Band: Rs. 105/- per equity share of face value Rs. 10/- each.
The floor price is 10.5 times the face value of equity shares.
Bids can be made for a minimum of 2,400 equity shares and in multiples of 1,200 equity shares thereafter.