Cosmic PV Power Limited, Sathya Agency Limited and Expression 360 File DRHP for IPO: Check Issue Size and Key Details

Cosmic PV Power Limited, Sathya Agencies Limited, and Expression 360 Limited have filed their Draft Red Herring Prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI) in the last week of March 2026, signalling their plans to enter the primary market. The three companies, operating across renewable energy, retail, and experiential marketing, are looking to raise capital through a mix of fresh issue and offer for sale (OFS).

Cosmic PV Power is aiming for a relatively large-sized IPO to fund manufacturing expansion, while Sathya Agencies plans a ₹600 crore issue to support growth and debt reduction. Expression 360, on the other hand, is a smaller offering focused on funding working capital and business expansion.

Cosmic PV Power IPO - Issue Details

As per the DRHP filed on March 30, 2026, Cosmic PV Power IPO will be a book-built issue comprising a mix of fresh issue and offer for sale (OFS), with a total issue size of up to ₹640 crore. The fresh issue will aggregate up to ₹540 crore, while the OFS will comprise shares worth up to ₹100 crore by existing shareholders. 

The equity shares, with a face value of ₹10 each, are proposed to be listed on the National Stock Exchange (NSE) and BSE. The book running lead managers to the issue are Systematix Corporate Services Limited and Valmiki Leela Capital Private Limited, while KFin Technologies Limited has been appointed as the registrar to the issue.

The company proposes to utilise the net proceeds from the fresh issue towards financing the costs of setting up of a planned manufacturing facility of the Company in Narmadapuram, Madhya Pradesh; and for general corporate purposes.

About Cosmic PV Power Limited

Cosmic PV Power Limited is a Gujarat-based renewable energy company engaged in the manufacturing of solar photovoltaic (PV) modules. Incorporated in 2020 and headquartered in Surat, the company focuses on producing high-efficiency solar modules using advanced technologies such as N-type TOPCon, catering to utility-scale, commercial, industrial, and residential applications. It operates a state-of-the-art manufacturing facility with around 3 GW capacity, positioning itself among the fast-growing solar manufacturers in India.

The company is expanding its presence across the renewable energy value chain, including plans for solar cell manufacturing and battery energy storage systems, aiming to become a vertically integrated clean energy player. It serves both domestic and international markets and has secured large supply orders, supporting its rapid scale-up in recent years. 

Financially, Cosmic PV Power has witnessed strong growth. The company reported revenue of around ₹243 crore in FY25, supported by sharp expansion in manufacturing capacity and demand for solar modules.

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Sathya Agencies Limited IPO - Issue Details

As per the DRHP filed on March 30, 2026, Sathya Agencies Limited IPO will be a book-built issue comprising a combination of fresh issue and offer for sale (OFS), with a total issue size of up to ₹600 crore. The fresh issue will aggregate up to ₹300 crore, while the OFS will consist of shares worth up to ₹300 crore by promoters. The equity shares, with a face value of ₹10 each, are proposed to be listed on the National Stock Exchange (NSE) and BSE. 

The book running lead managers to the issue are Anand Rathi Advisors Limited and Motilal Oswal Investment Advisors Limited, while the registrar to the issue will be KFin Technologies Limited.

The company proposes to utilise the net proceeds from the fresh issue towards funding acquisitions, repayment or prepayment of certain borrowings, and for general corporate purposes.

About Sathya Agencies Limited

Sathya Agencies Limited is a South India–based consumer durables and electronics retail company engaged in the sale of products such as televisions, refrigerators, washing machines, air conditioners, and mobile phones. Founded in 1983 and later incorporated as a private limited company in 2005, it operates a large network of retail showrooms across Tamil Nadu and other southern states, serving customers through both physical stores and online platforms.

The company has built a strong regional presence with an extensive distribution and retail network, catering to the growing demand for home appliances and electronics. Financially, Sathya Agencies has demonstrated strong scale and growth. The company reported revenue of around ₹3,500 crore in FY25, supported by store expansion and rising demand for consumer electronics, with improving operating performance and profitability trends.

Expression 360 IPO - Issue Details

As per the DRHP filed on March 30, 2026, Expression 360 IPO will be a pure offer for sale (OFS) issue, comprising up to 15,000,000 equity shares of face value ₹5 each. Since the issue is entirely an OFS, the company will not receive any proceeds from the offer.

The equity shares, with a face value of ₹10 each, are proposed to be listed on the National Stock Exchange (NSE) and BSE. The book running lead manager to the issue are Smart Horizon Capital Advisors Private Limited (Formerly Known as Shreni Capital Advisors Private Limited) and Swaraj Shares & Securities Private Limited. MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) is the registrar to the issue.

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About Expression 360 Services India Limited

Expression 360 Services India Limited is a Kolkata-based advertising and media services company engaged in providing integrated marketing, content production, and communication solutions. Incorporated in 2010, the company operates in the broader support services sector, offering services such as advertising, film and media production, digital marketing, public relations, and event-related services to organizations across industries.

Financially, the company has shown strong growth in recent years. It reported revenue of around ₹283 crore in FY25, with a healthy growth trajectory supported by expanding service offerings and client base.

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