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Sugs Lloyd has received in-principal approval from the BSE SME exchange to raise funds through an Initial Public Offering (IPO). The IPO is entirely a fresh issue of up to 59 lakh equity shares with a face value of Rs 10 each. The company aims to raise approximately Rs 85.4 crore through the book-building route. 

The proceeds from the fresh issue will be utilised by the company for working capital requirements, to support business expansion, and for general corporate purposes. 3Dimension Capital Services is the book-running lead manager and KFin Technologies is the registrar of the IPO.

Sugs Lloyd operates in the renewable energy sector, with a primary focus on solar energy, electrical transmission and distribution, and civil EPC projects.