EKI Energy rides climate change bandwagon to riches

The Indore-based carbon credit firm’s valuation has zoomed from under $10 million to over $1 billion in just 10 months. What’s the story?

It was the kind of initial public offering of shares one would hardly pay any attention to. An IPO by a company with Rs 66 crore revenue, looking to raise a mere Rs 18 crore and list on BSE's small and medium enterprise platform. Besides, the issue was being lead-managed by an obscure investment banker.

But those shares were the best performers in the market last year, rising 10,000% in a matter of 10 months. 

EKI Energy Services, in its public issue last April, offered 1.8 million shares at Rs 102 each. The stock opened at Rs 140, but three …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor