Sai Urja Indo IPO

Sai Urja Indo Ventures Limited (SUIVL) was originally incorporated as Sai Urja Indo Ventures Private Limited on May 17, 2012 under the Companies Act, 1956. The Company was subsequently converted into a public limited company and renamed Sai Urja Indo Ventures Limited in February 2025. Its registered office is located at Chandrapur, Maharashtra.

The Company is a service provider in Operations & Maintenance (O&M) of process industries, particularly the power sector, with a strategic presence in Nagpur, Maharashtra, enabling connectivity across India and supporting timely O&M services. It has secured various contracts through competitive bidding in open tenders and has been expanding its operations across different sectors.

The Company has undertaken projects in the power sector for clients including Adani, GMR and MAHAGENCO. Its capabilities cover a wide range of electrical, mechanical and plant O&M services, including maintenance of transmission lines up to 765 KV, substations, transformers, motors, generators, batteries, C&I equipment, boiler, turbine and auxiliaries, FGD, ESP, AHP and CHP systems.

Its services also include railway wagon handling, MGR and railway track/locomotive O&M, CHP conveyor systems, stacker-reclaimers, wagon tipplers, coal yard management, electrical and industrial lighting, manpower deployment, township electrical systems, chemical laboratory support and various plant housekeeping and maintenance activities.

Diversified O&M Service Solutions: Provides a wide range of Operations & Maintenance services including maintenance contracts, operations, repairs, overhauls and upkeep across power and other industries, covering BTG, coal/ash handling plants, rail networks, rail mills, rotary machines, laboratories and townships.

Experienced Leadership & Skilled Workforce: With 2,058 personnel as of March 31, 2026, the Company has a workforce across different skill levels and sites. Promoter Harsh Ajaykumar Mittal brings 13+ years of mechanical engineering experience and leads business strategy and development.

Repeat Orders & Growing Project Values: The Company consistently receives repeat orders from existing clients with larger project values, supporting long-term customer relationships and enabling multiple projects with a wide range of services at the same site.

Dependence on PSU Contracts: A significant portion of revenue depends on contracts awarded by Public Sector Undertakings (PSUs). There is no assurance of receiving such contracts in the future, which could adversely affect business, cash flows and financial performance.

Employee & Labour Dependency: Operations depend on attracting and retaining qualified, experienced personnel and skilled/unskilled labour. Employee benefit expenses also form a significant portion of costs, and higher compensation or difficulty in replacing employees could affect profitability and operations.

High Working Capital Requirements: The business is working-capital driven and requires significant funds for project operations. Insufficient operating cash flows or inability to obtain borrowings may adversely affect business, cash flows and results of operations.