Sustainability Sells: Earthood Files Fresh Papers for ESG-Powered IPO

Gurgaon-based Earthood Services, a global ESG advisory and assurance leader in the world, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) after a fresh filing, setting a new initiative towards its much-awaited Initial Public Offering (IPO).

 

The fresh IPO proposal is a fresh clean issue of sale (OFS) of 6.29 million shares of equity, with promoters Ashok Kumar Gautam and Kaviraj Singh offering 2 million and 4.29 million shares respectively. The fresh filing eliminates the previous fresh issue component, and thus the proceeds will accrue to the selling shareholders in entirety2.

 

The matter includes a reservation for qualified employees, who also receive a concession in their offers. The IPO will be executed using the book-building technique, which will distribute:

Unistone Capital is the exclusive book-running lead manager, and MUFG Intime India is the registrar. The shares are to be listed on both the NSE and BSE.

 

Founded in 2012, Earthood Services has built a strong global footprint with offices in India, the UK, Russia, Turkey, and the UAE. The company has worked with over 400 clients across 132 nations, offering solutions like carbon verification, climate risk analysis, and ESG roadmaps.

 

Earthood has been financially relatively robust:

IPO is a breakthrough for Earthood as it aims to catch the wave of increasing demand for ESG compliance and sustainability advisory services across the world.

 

Sources: Business Standard, Moneycontrol, SEBI – Draft Offer Document Filing