GRE Renew Enertech Ltd IPO
Issue Price
₹105
GMP
+₹8
Est. Listing
₹113 (+8%)
Lot Size
1,200
Face Value
₹10
Issue Size
3,768,000 shares (agg. up to ₹40 Cr)
Subscription
—
IPO Timeline
Open Date13-Jan-26
Close Date16-Jan-26
Allotment19-Jan-26
Refund Initiation20-Jan-26
Demat Credit20-Jan-26
UPI Mandate Deadline-
Listing Date21-Jan-26
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 1,776,000 (47%) | — | ₹1,865 Cr |
| NII (HNI) | — | 540,000 (14%) | — | ₹567 Cr |
| Retail | — | 1,260,000 (33%) | — | ₹1,323 Cr |
| Market Maker | — | 192,000 (5%) | — | ₹20 Cr |
| Σ Total | — | 3,768,000 (100%) | — | ₹39,564 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Issue Price / Price Band₹105
Face Value₹10
Lot Size1,200 shares
Issue Size3,768,000 shares (agg. up to ₹40 Cr)
Issue TypeBookbuilding IPO
Listing ExchangeBSE SME
Sale TypeFresh Capital
Script Code—
Net Offer to Public3,576,000 shares (agg. up to ₹38 Cr)
Amount In₹ Crore
Stock Price History · BSE
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Yahoo Finance · Live
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹126,000 |
| Retail (Max) | 13 | 15,600 | ₹1,638,000 |
| S-HNI (Min) | 14 | 16,800 | ₹1,764,000 |
| B-HNI (Min) | 67 | 80,400 | ₹8,442,000 |
Retail2 lot(s)2,400 shares₹252,000
S-HNI3 lot(s)3,600 shares₹378,000
Financial Statements Amount in ₹ Crore
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 44 | 84 | 92 |
| EBITDA | 6 | 9 | 11 |
| Profit After Tax | 4 | 7 | 10 |
| Net Worth | 35 | 31 | 21 |
| Total Assets | 43 | 45 | 49 |
| Reserves & Surplus | 25 | 21 | 20 |
| Total Borrowing | 1 | 2 | 5 |
Valuation & Key Ratios
ROE12%
ROCE15%
RONW12%
PAT Margin9%
EBITDA Margin13%
Debt/Equity0
P/BV—
Pre EPS₹7
Post EPS₹6
Pre P/E16
Post P/E19
Grey Market Premium (GMP)
+₹8
Current GMP
₹113
Est. Listing Price
+8%
Expected Gain
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant – 32.61
- General corporate purposes –
Company Overview
GRE Renew Enertech Limited is engaged in the business of solar energy solutions and LED lighting products.
They offer rooftop and ground-mounted solar installations, as well as indoor and outdoor LED lighting solutions.
The company, originally a manufacturer of LED lighting solutions, now primarily focuses on solar energy.
Business Model:
- CAPEX Model (EPC) (Engineering, Procurement and Construction): The company follows the CAPEX model, where consumers own and fund solar systems, while EPC services manage engineering, procurement, construction, and commissioning, ensuring complete PV plant delivery and grid connection.
- RESCO Model (Opex): The company uses the RESCO model, where it funds and owns rooftop solar systems, earning annuity income while consumers pay monthly tariffs, though securing low-cost capital remains a key challenge.
Products and services:
- EPC (Engineering, Procurement, and Construction):Turnkey solar solutions from design to commissioning, including operation and maintenance as required.
- Rooftop Systems (On-Grid):Grid-tied solar systems reduce electricity bills by supplying power and feeding excess to the grid.
- Solar Rooftop Systems (Hybrid):Combines solar panels, batteries, and grid access to ensure a continuous, eco-friendly power supply anytime.
- PV Module:High-efficiency, reliable solar modules suitable for various applications with strong performance in all conditions.
Competitive Strengths:
- Experience Management Team
- Training and Skill development programs to strengthen Operation & Maintenance Team
- Existing number, visible order book, and favourable national policy support
- 24/7 Premium Support System
- ESG (Environment, Social and Governance)
Company Information
AddressPlot no. 423, G.I.D.C.-II Dediyasan Mehsana, Gujarat, 384002
Phone+91 9974039300
Emailcs@greindia.com
Websitehttps://greindia.com/