Techknowgreen Solutions Limited IPO

Apply 0
Avoid 0

i. Techknowgreen Solutions is environmental consulting company with 20+ years of experience, headquartered in Pune, India. Their key offerings include Consulting – Regulatory | Sustainability, Technology – Execution | Info Tech and Research – Policy | Engineering. They are one of the first companies in India providing environmental IT solutions through cutting-edge software applications and compliance solutions. They have diverse experience in handling complex projects across various industries like infrastructure, chemical, automobile, healthcare, manufacturing, real estate and national/state governments. Their client base includes government, semi government organization, MNCs, large companies, mid-size companies and MSMEs.

ii. The Company was originally formed as a partnership firm pursuant to deed of partnership dated April 05, 2001 in the name and style of “Techno Green Environmental Solutions”, thereafter the firm got registered under the Partnership Act, 1932 (“Partnership Act”) having Firm Registration Number BA-81287 in the name and style of “Technogreen Environmental Solutions” dated September 17, 2001. The firm was thereafter converted from Partnership Firm to a Public Limited Company under Part I of Chapter XXI of the Companies Act, 2013 with the name and style of “Techknowgreen Solutions Limited” and received a Certificate of Incorporation from the Registrar of Companies, Central Registration Centre dated January 02, 2023.

iii. The Company is promoted by Ajay Ramakant Ojha and Prasad Rangrao Pawar who are technocrats in environmental consulting, technology & management field with a vision to empower clients by ensuring sustainability and profitability can go hand in hand and achieving double bottom line.

Competitive Strengths

i. Robust Execution Capabilities
ii. Across Multiple Sectors
iii. Many Innovative Executions

Objects of the Techknowgreen Solutions Limited IPO:

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects: i. Investment in research and development ("R&D") initiatives which includes hiring of experienced R&D resources and purchase of equipment to support R&D initiatives. ii. Investment in office Premises. iii. Refurbishment of new office premises and purchase of office equipment. iv. Expansion of the execution and support service teams including hiring of resources with expertise in environmental consulting. v. Repayment of Bank facilities. vi. General Corporate purposes.

Techknowgreen Solutions Limited IPO Details:

Open Date: Sep 18 2023
Close Date: Sep 21 2023
Total Shares: 1,944,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 16.72 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 86 Per Equity Share
Listing At: BSE SME
Listing Date: Sep 29 2023

Promoters And Management:

Ajay Ramakant Ojha, aged 46 years is the Promoter and Managing Director on the Board of the Company. He holds degree of Doctor of Philosophy (Science) in Chemistry, Masters of Environmental Science and Bachelors in Science from University of Mumbai. He was a member of strategic committee for Pollution reduction from two stroke 3wheeler engines constituted under the order of Hon’ble NGT through MPCB. He has been associated with the Company since inception and has over 23 years of experience in the industry. He is a visionary entrepreneur and has played a pivotal role in setting up business of the Company. He primarily looks after the overall business operations of the Company including formulation of policies for the business development. Under his guidance the Company has witnessed continuous growth. Prasad Rangrao Pawar, aged 45 years, is the Promoter, Executive Director & Chief Executive Officer of the Company. He holds a Master of Environmental Management Degree from Shivaji University, Kolhapur and Bachelors in Science from Pune University. He has been associated with the Company since inception. He has been appointed as Chief Executive Officer with effect from March 11, 2023. He has approximately 23 Years of experience in environmental industry. He is responsible for handling the Government Department & Authorities for permission regarding project related activities, makes decision for the company, do Technical & Financial Planning and Explore newer potentials for business, overall execution of the projects. Aniket Vijay Kadam, aged 41 years is the Executive Director and Chief Financial Officer of the Company. He holds a Bachelor of Engineering from University of Mumbai and completed his MBA – Retail Management & Marketing from Institute for Technology & Management, Navi Mumbai. He has more than 2 years of experience in the industry of Construction and Real Estate, etc. He has been associated with Knight Frank LLP as an Assistant Manager.

Financials of Techknowgreen Solutions Limited IPO:

Particulars ( In Lakhs )
Revenue from Operations 781 987 1,484
Other Income 5 12 2
Total Revenue 785 999 1,486
Direct Expense 385 88 96
Purchases 53 573 226
Changes in inventories 10 -25 -120
Employee Benefits Expense 64 56 183
Other Expenses 157 102 448
EBITDA 117 205 654
Depreciation & Amortisation 4 4 5
Finance Cost 62 50 24
EBIT 113 201 649
OPM (%) 14.85% 20.53% 43.99%
PBT 51 151 625
Tax 14 43 173
PAT 37 108 451
NPM (%) 4.73% 10.83% 30.37%
No.of Shares 73.82 73.82 73.82
EPS 0.50 1.46 6.11

Comparison With Peers:

Note: - There is no listed companies related to this company.

Recommendation on Techknowgreen Solutions Limited IPO:

Review and Recommendation of Technknow Green Solutions SME IPO by IZ team is 6/10 1. Techno Green Solutions Limited, a key player in the environmental services sector, has evolved significantly since its inception in 2001. Offering a wide array of services such as consulting, environmental compliance, and sustainability, the company addresses the myriad challenges associated with environmental management. One of its standout features is its technology-first approach, incorporating digitization, artificial intelligence, and Internet of Things to offer more nuanced and effective solutions beyond traditional environmental consulting. 2. The company's market opportunity is considerably broad, catering to diverse industrial sectors like infrastructure, automotive, and real estate. This diverse clientele becomes even more crucial in the wake of growing environmental awareness and stringent regulations. The company has also managed to cultivate a mix of repeat and new customers, underlining its reliability and quality of service. 3. Techno Green is poised to benefit immensely from the recent SEBI guidelines mandating ESG norms for large listed companies. Given its already established rapport and service offerings in sustainability reporting and environmental compliance, it is well-positioned to capture this emerging market. The company has already initiated partnerships with these large listed companies, paving the way for new revenue streams and reinforcing its market relevance. 4. Financially, Techno Green has shown remarkable growth, with its consulting business witnessing a revenue share increase from 35% to 65% in the last three years. For the fiscal year ending in 2023, the company reported encouraging numbers with total revenue of 1,486 lakhs, an EBITDA of 654 lakhs, and a PAT of 451 lakhs. Their financial strategy, which includes a mix of advances and stage-wise payments, has aided in maintaining healthy cash flows. 5. However, there are associated risks, mainly the company’s heavy reliance on government and semi-government contracts for a substantial part of its revenue. Moreover, the environmental consulting landscape is highly competitive, with established giants like KPMG, E&Y, PWC, and Deloitte also in the fray. 6. Geographically, Techno Green has a solid footprint in Maharashtra and has expanded its reach to other states and international markets, including the Middle East. The company has ambitious plans to triple its revenue over the next three years through strategic expansions into the European and U.S. markets. 7. The upcoming IPO is set at a P/E ratio of 14x and a market capitalization of 64 Cr, which appears to be a fair valuation considering the company's growth prospects and market positioning. The net proceeds from the IPO are planned for various strategic investments, including R&D, office premises, team expansion, and other corporate purposes. 8. The strength of the company also lies in its seasoned management team. Led by Dr. Ajay Ramakant Ojha and Prasad Rangrao Pawar, both with over two decades of experience in the environmental industry, they are well-supported by CFO Aniket Vijay Kadam, who brings in additional expertise from the construction and real estate sectors. 9. In conclusion, Techno Green Solutions Limited offers a compelling investment opportunity, especially in light of the new SEBI guidelines. With its comprehensive range of services, robust financial health, and strategic market and geographical positioning, the company is well-poised to capitalize on the burgeoning demand for environmental services. This makes the IPO an attractive proposition for investors seeking to invest in a financially stable company that also contributes significantly to environmental sustainability and compliance.

Lead Manager of Techknowgreen Solutions Limited IPO:

  1. Indorient Financial Services

Registrar of Techknowgreen Solutions Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Techknowgreen Solutions Limited Flat-202, Hem Opal Apartment, Plot No. 26, Ekta Park Society, Wakdewadi Pune - 411003 Phone: +91 9607002553 Email: Website

Discussion on Techknowgreen Solutions Limited IPO:


    1. Asset Light Business Model.

    2. OPM is very high.

    3. Promoters looks highly technical with Phd Degree in Environment.

    4. Compulsory ESG norms as per SEBI guidelines can be a trigger for this company. They have already started working with many listed companies to fulfil their environmental norms follow up.

    5. They face competition from Big 4 firms such as KMPG, Deloitte, PWC and EY.

    6. Just 2.69 Cr of debt on book for working capital requirement.

    7. Good cash flow generator business. In the last 3 years, total ~15 Cr cash generated from business.

    8. IPO is priced at reasonable 14x P/e.

    8. Apply in this IPO

Leave a Reply