Zodiac Energy Ltd

zodiac energy

About the Company:

Company was originally incorporated as “Zodiac Genset Private Limited” at Ahmedabad on May 22, 1992,Subsequently on April 30, 2007 name of the company was changed to “Zodiac Energy Private Limited”.

Zodiac Energy Ltd Energy Solution Provider is having experience of more than two decades in majority of verticals of power generations spectrum.

Company’s spectrum of services include Design, supply, installation, Testing and Commissioning (EPC) and Operation and Maintenance (O&M) in short they provide turnkey solutions from concept to commissioning of power plants.

Company has installed solar power plants for many prominent clients like Sun-Edison India Limited, Adani Group,Torrent Power Limited, Gujarat Energy development  Agency, Reserve Bank of India, Directorate of Lighthouse and Lightships Government of India (GoI), Indian Oil Corporation Limited to name a few.

Company has installed more than 6,000 KW of Rooftop solar power plants till now and it envisages to reach at 10,000 KW by end of 2017-18.


Various Products provided by the Company are as follows:



Various Services provided by the Company are as follows:

  • Electrical design engineering
  • Mechanical (Design & Engineering)
  • Piping Design Solution & Analysis


Significant Projects Completed by the Company across Various Segments (Year 2017):

Client Name Location Capacity
District Court Vadodara 337 KW
Mr. Gautam Adani Ahmedabad 53.5 KW
Torrent Power Limited Ahmedabad 110 KW
Rajpath Club Limited Ahmedabad 150 KW
Adani Transmission Limited Gujarat 1000 KW


Ongoing Projects of the Company across Various Segments :

Client Name Location Capacity
Shantivan Colony, (Adani Group
Mundra 350 KW
J.B. Packaging Ahmedabad 250 KW
Charusat University Changa, Anand 200 KW
Karnavati Club Limited Ahmedabad 200 KW
Sandipani Gurukul Porbandar 198 KW
City Civil & Session Court Ahmedabad 150 KW
Serve Shanti Properties Private Ltd Gujarat 2300 KW


Management Team:

  1. Mr. Kunjbihari Shah (Designation: Managing Director)
  2. Ms. Parul Shah (Designation: Whole-Time Director)
  3. Mr. Bhargav Mehta (Designation: Whole-Time Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Mr. Kunjbihari Shah 43,91,520 9.40
Mr. Jugal Kishor Shah 6,92,000 2.50


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake
Mr. Kunjbihari Shah 81.829 60.020
Mr. Jugalkishor Shah 12.894 9.458
Promoter Group Entities              4.031           2.958
Total 98.75% 72.43%


Objectives of the Issue:

  • Working Capital Requirement.
  • General Corporate Purpose.
  • Meeting Public Issue Expenses


Fund Utilization:

Particulars Amount (Rs. in Crores)
Net Incremental Working Capital requirements 7.95
General Corporate Expenses 1.69
Public Issue Expenses 0.50
Net Proceeds 10.14 cr


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 30th June 17
Revenue  8.85 9.52  8.70 9.20  16.74  8.24
Net Profit  0.09  0.11  0.046  0.10 0.23  0.49


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Zodiac Energy Limited 10 0.67 77.61 15.62 4.27
Ujaas Energy Limited        10 1.82 12.86 15.88 11.43
KP Energy Limited 10 2.46 138.30 6.40 38.44


IPO Details:

Details Info
Issue Opens on 23rd November 2017
Issue Closes on:. 27th November 2017
Issue Price Rs.52
Face Value Rs.10
Minimum Lot 2000
Minimum Investment Rs.1,04,000
Issue Constitutes 26.65%
Issue Size Rs.10.14 cr
Market Cap Rs.38.04 cr
Listing at NSE SME
Total Equity Shares Offered (Fresh) 19,50,000
Equity Shares Prior 53,66,720
Equity Shares after the issue 73,16,720


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
0.67 77.61 15.62% 4.27

Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Neutral NA NA


Important Dates to Remember:

Finalization of Basis of Alottment on or Before 30th November 2017
Initiation of Refunds on or Before 1st December 2017
Credit of Equity Shares: on or Before 4th December 2017
Listing Date: on or Before 5th December 2017


Check IPO Allotment Status:

Link InTime Website



Company Contact Info:
Zodiac Energy Limited
A-1204, Siddhi Vinayak Towers,
Off S G Highway, Makarba, Vejalpur,
Ahmedabad – 380051, Gujarat
Contact Person: Ms. Niyati Parikh;
Tel No.: +91 – 79 – 2970 4116
Email: compliance@zodiacenergy.com;
Web: www.zodiacenergy.com


IPO Registrar Info:
SEBI Registration Number: INR000004058
C – 101, 1st Floor, 247 Park, Lal Bhadur Shastri Marg,
Vikhroli (West), Mumbai – 400 083
Tel: +91 – 22 – 4918 6200; Fax: +91 – 22 – 4918 6195
Email: zodiacenergy.ipo@linkintime.co.in
Investor E-mail: zodiacenergy.ipo@linkintime.co.in
Website: www.linkintime.co.in


Lead Manager to the Issue:
SEBI Registration Number: INM000012102
Address: 305, Madhuban Building,
Cochin Street, S.B.S. Road, Fort,
Mumbai, Maharashtra – 400 001.
Tel No.: +91 – 22 – 2265 5565;
Email Id: merchantbanking@swastika.co.in
Investors Email: investorgreivance@swastika.co.in
Website: www.swastika.co.in