Earthood Services Withdraws Initial Public Offering Plans

Earthood Services Withdraws Draft IPO Document

February 27, 2026

Gurgaon-based Earthood Services, a provider of environmental attribute certification, has withdrawn its draft document for fundraising via an Initial Public Offering (IPO), as per the processing status of draft offer documents published by the Securities and Exchange Board of India (SEBI) on February 27.

Background

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The company had filed its IPO papers with SEBI in June 2025, seeking to raise funds through an offer-for-sale (OFS) of 62.9 lakh shares, with no fresh issue component. The selling shareholders in the OFS were Kaviraj Singh and Ashok Kumar Gautam.

Business Overview

Earthood Services primarily offers carbon validation and verification services, as well as environmental, social, and governance (ESG) advisory and assurance services in India and overseas. It was the first company from the environmental attributes certification segment to approach the capital markets in India, with no listed peer.

Market Trends

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According to a CRISIL report, companies worldwide are facing growing pressure to reduce emissions and set their net-zero targets, leading to increased investment in emission offsetting and reliance on high-quality, independently verified carbon credits. Carbon credits are units generated through implemented mitigation activities that result in the reduction of greenhouse gas (GHG) emissions over and above the baseline.

IPO Details

The IPO was to be managed by Unistone Capital, appointed as the sole merchant banker.