Apollo Green Energy, India’s Leading Renewable EPC Player

There’s a lot of competition in India’s clean energy race, but few companies combine three decades of legacy business with a sharp pivot into solar, wind and energy storage quite like Apollo Green Energy Limited (AGEL). If you've been hunting for the Apollo Green share price, keeping up with the latest Apollo Green Energy news, or trying to figure out the Apollo Green unlisted share price volatility, this is a no-nonsense look at who the company is, the numbers driving its growth story and the real financial risks investors are eyeing.

Apollo Green Energy – Who are we?

Apollo Green Energy Limited was incorporated on August 25, 1994, originally as Apollo International Limited - a diversified trading and logistics conglomerate with businesses from leather goods, tire distribution to international trade. During the past decade the group was re-organized with a flagship business in renewable energy.

Headquarters: Gurugram (Gurgaon), Haryana; registered office, New Delhi

Parent Group Apollo International Group (also operates Apollo Pro X (infrastructure), Apollo Supply Chain and Apollo Fashion)

Main Activities: Engineering, Procurement and Construction (EPC) of Utility Scale Solar, Wind and Hybrid Projects

Chairman & MD: Raaja Kanwar 🛠️ What do Apollo Green Energy do?

AGEL describes itself as the end-to-end renewable energy partner covering:

Utility-scale Ground-Mounted and Floating Solar Projects via Solar EPC

Wind Power Wind-Solar Hybrid Systems

Emerging Sectors Green hydrogen, Battery Energy Storage Systems (BESS) and EV charging, Strategic plans

Industrial Pollution Control,Thermal power plants to implement ₹700 crore Flue Gas Desulphurization (FGD) project

Apollo Green Energy By the Numbers

Key Risk Factors & Credit Defaults

Paper financial performance has been profit growth but the company has reached a major liquidity crisis:

Credit Downgrade: Credit rating agencies (including CRISIL and Infomerics) have downgraded AGEL’s credit facilities and debt instruments to ‘D’ (Default) status

Late Payments: The default was triggered by large delays in debt servicing obligations, cash flow mismatches and structural delays in payments on working capital facilities

This is exactly the kind of red flag that anyone following Apollo Green share News should take a hard look at, before concluding that headline revenue growth is the whole story.

IPO Story & Crash in the Unlisted Market

There’s been a lot of chatter in the pre-IPO space about Apollo Green Energy but its timelines have taken a serious hit:

DRHP Status: Although early executive targets pointed toward a public listing, a Draft Red Herring Prospectus (DRHP) has not been formally filed with SEBI

Unlisted Share Collapse: The Apollo Green share price collapsed in the unlisted/pre-IPO market, dragged down by debt defaults and credit downgrades, crashing sharply from a 52-week high of ₹210 to trade in the ₹65-₹75 range with highly constrained liquidity

Lock-in Rule: Shares bought through informal pre-IPO transactions are subject to a compulsory 6-month regulatory lock-in period after listing before they can be sold on public exchanges

Unlisted Shares Buying: What you need to know before you trade

The interest in pre-IPO names like Apollo Green has created a wider market for unlisted shares, with many networks and platforms of unlisted share dealers including a growing bunch of firms in Noida, describing themselves as an unlisted share company – facilitating these off-market trades. Before dealing through any such intermediary, it’s worth remembering a few things:

Unlisted shares trade over the counter, without the price discovery of an exchange—quoted prices can vary widely between dealers

Liquidity is thin and it can be hard to exit a position ahead of a listing (if there is one at all)

Before transferring money, check the dealer's track record, documentation process and the settlement mechanism.

A credit default like AGEL’s is a material event and should be factored directly into any valuation a dealer gives.

The Final Word

Apollo Green Energy’s growth story is a very interesting one: it is a legacy trading house reinventing itself as a renewable EPC player with a multi-hundred-crore order book. But the ‘D’ credit default rating is no small footnote; it’s a structural red flag that’s already hit the Apollo Green unlisted share price hard. Any valuation of this name should consider the order book and revenue numbers within the framework of the credit story, not in isolation, and any potential transaction should be preceded by independent verification of current pricing and company filings.

FAQs

1. Is Apollo Green Energy the same as Apollo International Limited?
Yeah. Apollo Green Energy Limited is erstwhile Apollo International Limited (incorporated in 1994) which is now renamed/structured for its renewable energy business.

2. Is Apollo Green Energy listed on the stock exchange?
No. As of today it is not listed on NSE and BSE. It is a private company, its shares traded only in the informal pre-IPO/unlisted market. There has been talk of an IPO and preparation for one but no confirmed date for listing has been announced.

3. What does Apollo Green Energy build?
Its core business is to build solar and wind farms – designing, buying the equipment and building power plants for clients – and it has diversified into newer areas like battery storage, green hydrogen and pollution-control systems such as flue gas desulphurisation.

4. When is the Apollo Green Energy IPO Date?
Not verified. The company had targeted the first quarter of 2026, but the DRHP has not yet been formally filed with SEBI based on the latest reports, so the timeline should be considered tentative rather than fixed.