Eapro Global Limited has raised ₹40 crore in pre-IPO financing, a major milestone ahead of its planned listing in fiscal year 2028. The Roorkee-based producer of solar and power-backup technology revealed the funding on September 22, with proceeds earmarked for production expansion, research and development, and reinforcing its position in India’s renewable energy market.
The capital was secured from a diverse group of investors, including institutional funds, family offices, and private backers. Participants included Aarth AIF Growth Fund, NAV Bharat Investment Opportunities Fund, VentureX Fund, and the Juggilal Kamalapat Lakshmipat family office. Kyro India Opportunities Fund – I, a Category II alternative investment vehicle managed by Kyro Asset Management, made its first investment in the round. Kyro Capital Private Limited acted as the exclusive financial advisor, managing investor relations, deal structuring, and finalization.
Eapro’s growth has been driven by its core offerings: inverters, battery systems, and energy storage solutions. The company’s revenue increased from ₹199.61 crore in FY25 to ₹346.39 crore in FY26, while EBITDA grew from ₹26.73 crore to ₹44.30 crore. Net profit after tax also rose from ₹18.58 crore to ₹30.54 crore during the same period. Management attributed this performance to strong demand for solar inverters and energy storage products.
Eapro is targeting an initial public offering in FY28 and is in discussions with prospective lead managers and investors as part of its preparations for the proposed listing. The announcement did not disclose the expected issue size, proposed valuation, shareholding dilution or the appointment of lead managers. Current priorities include scaling production capacity and advancing technology in preparation for the public offering.
Jagdeep Chauhan, Eapro’s managing director, stressed the importance of energy storage and solar inverters in India’s transition to cleaner energy. He noted that the funding would strengthen the company’s financial position and support manufacturing growth before the listing.
Aman Maheshwari, founder of Kyro India Opportunities Fund, expressed confidence in the sector’s long-term expansion, driven by renewable energy deployment and the demand for dependable power solutions. He also said Kyro had exclusively advised Eapro on the fundraise and described the investment as the fund’s first transaction.
The company’s financial progress, marked by rising revenue and profitability, reflects its focus on enhancing operations before entering public markets. Eapro’s emphasis on manufacturing and technology development comes as it prepares for its proposed FY28 listing. Further details on the IPO, including its structure, timing and lead managers, remain subject to the company’s ongoing preparations.
