Roorkee-based solar and power-backup maker Eapro Global has secured ₹40 crore from investors like Aarth AIF and JK Family Office. The funding will support manufacturing expansion and technology upgrades as the firm works toward a proposed IPO in the 2028 fiscal year. The company recently reported a 73.5% jump in annual revenue.
Eapro Global, the Roorkee-based manufacturer of solar inverters and power-backup systems, has raised ₹40 crore in a fresh funding round. This capital is intended to scale operations and strengthen the company's financial position as it prepares for a proposed initial public offering (IPO) in the 2028 fiscal year.
The company reported strong financial growth in the last fiscal year. In FY26, Eapro Global recorded revenue of ₹346.39 crore, up 73.5% from ₹199.61 crore in FY25. Profit after tax also improved significantly, reaching ₹30.54 crore compared to ₹18.58 crore in the previous year. Operational efficiency also increased, with EBITDA rising by 65.7% to ₹44.30 crore.
Strategic Funding for Expansion
The funding round was advised by Kyro Capital and saw participation from a mix of institutional investors and family offices. Notable investors include the Aarth AIF Growth Fund, the Juggilal Kamlapat Lakshmipat (JK) Family Office, NAV Bharat Investment Opportunities Fund, and VentureX Fund. This round also represents the maiden investment for the Kyro India Opportunities Fund-I, which is a SEBI-registered Category II alternative investment fund.
Eapro Global intends to use these funds to broaden its production facilities and integrate more advanced technology into its solar inverter and battery storage offerings. The company is positioning itself to capture demand in India's renewable energy sector, specifically targeting needs related to grid resilience and power backup.
Scaling and Execution Risks
While the company has shown high growth rates, investors watching the firm’s progress should note the complexities of scaling a manufacturing business. Increasing production capacity often brings challenges, such as managing raw material price volatility and maintaining stable profit margins amidst intense competition in the solar and power-backup industry. The success of the planned IPO will depend on the company's ability to execute its expansion plans without straining its cash flow or debt levels.
Management is currently in discussions with potential lead managers to streamline the timeline for the FY28 listing. The next key updates will likely revolve around the commissioning of new production facilities, the company’s ability to sustain its profit growth, and any formal progress regarding the appointment of bankers for the public issue.