Private EquityScreenerRefer

MARKET INSIGHTS

  • EventsNEWPrivate market milestones
  • NewsPrecize daily pulse
  • BlogsIn-depth articles and opinions

GUIDES

Explore Now
  • Unlisted SharesStep-by-step · KYC
  • BuyingStep-by-step · KYC
  • SellingExit in 24 - 48 hours
  • Pre-IPOReturns · risks · case studies
  • Tax GuideBudget 2026 changes
  1. Home
  2. Unlisted share news
  3. IPO-bound Apollo Green Energy faces payment delays, credit ratings down…

IPO-bound Apollo Green Energy faces payment delays, credit ratings downgrade debt facilities

30 Sept 2025

Add as preferred source
Key Takeaways

Investors should note short-term repayment delays despite FY25 profit growth, Rs 3,000 crore order book, and 1 GW EPC expansion target by 2026.

Investors should note short-term repayment delays despite FY25 profit growth, Rs 3,000 crore order book, and 1 GW EPC expansion target by 2026.

apollo green energy unlisted shares

Apollo Green Energy

-16.06%

Expert Analysis

Apollo Green Energy IPO Hit by Bond Payment Delays and Debt Downgrades.

Expert Analysis:

  • Overdue Payments: Apollo Green Energy has overdue payments to bondholders, with interest expected within the coming week and principal plus overdue interest scheduled for repayment within 70–75 days.

  • Debenture Details and Credit Impact: The payments relate to a two-year non-convertible debenture (NCD) that expired on July 19, 2025, raised Rs 6 crore at an issue price of Rs 1 lakh, with credit rating agencies downgrading its debt amid these delays.

  • Financial Performance: In FY25, Apollo Green reported a 50 percent YoY increase in net profit, reaching Rs 44.36 crore, and recommended a 15 percent dividend for shareholders.

  • Growth and Expansion Plans: The company holds over 400 MW of solar capacity across multiple states, maintains an order book of Rs 3,000 crore, and targets expanding its EPC order book to 1 GW by 2026. The firm had considered approaching public markets to support expansion and secure new projects.

  • Market Context: NSDL data shows that at least 10 debenture series from IL&FS group entities and Future Consumer have defaulted on redemption since early 2025, highlighting broader stress in the debt market.

Publisher:Money Control