Earthood Services IPO: Gurugram’s company Arthad Services has submitted draft papers near the Capital Market Regulator SEBI to raise money through its IPO. Earlier, the deposited papers were withdrawn by the company. According to the new draft papers submitted on June 13, the IPO will now have an offer for sale of 62.9 lakh shares from only promoters- Kaviraj Singh and Ashok Kumar Gautam. New shares will not be released. This means that the entire earnings from IPO will go to shareholders selling shares.
The company provides carbon validation and verification services for 4 sectors- Renewable Energy, Energy Demand, Forestry and Agriculture, West and others. It also provides environmental, social and governance (ESG) advisory and assurance services to customers in India and abroad. Uniston Capital is the only book running lead manager to handle the IPO of Earth Hood Services.
Draft was first deposited in December 2024
Earlier, Earthhood Services had submitted draft papers to SEBI for IPO on 26 December 2024. At that time, 36 lakh new shares and promoters were said to have an offer for sale from the promoters. However, the company withdrew this old draft on 28 April this year. Promoters hold 94.55 percent stake in the company. The remaining 5.45 percent shares are with public shareholders.
Company’s financial position
For FY 2023-24, Earthhood Services recorded a profit of Rs 19.3 crore. This is 80.1 percent more than the profit of Rs 10.7 crore a year ago. Revenue was Rs 46.8 crore, which is 44.5 percent more than FY 2023. The company’s profit was Rs 8.14 crore and revenue was Rs 33.7 crore over April-December 2024.
