GRE Renew Enertech IPO Details

SME

GRE Renew Enertech IPO opens for subscription on 13 Jan 2026 and closes on 16 Jan 2026. The IPO will be listed on BSE with the tentative listing date set for 21 Jan 2026.

GRE Renew Enertech IPO price band has been fixed at ₹100 – ₹105 per share.The face value is ₹10 per share with a lot size of 1200.

GRE Renew Enertech IPO total issue size comprises 37,68,000 shares (aggregating up to ₹39.56 Cr.). This includes a fresh issue of 37,68,000 shares (aggregating up to ₹39.56 Cr.). Pre-issue shareholding stands at 1,05,20,000, which will increase to 1,42,88,000 post-issue.

GRE Renew Enertech IPO carries a ₹7 (6.67%) GMP, reflecting investor sentiment.

GRE Renew Enertech IPO Lot Size : Individual Minimum is 2 lots (2,400 shares) amounting to ₹252,000. Individual Maximum is 2 lots (2,400 shares) amounting to ₹252,000. SHNI Minimum is 3 lots (3,600 shares) amounting to ₹378,000. SHNI Maximum is 7 lots (8,400 shares) amounting to ₹882,000. BHNI Minimum is 8 lots (9,600 shares) amounting to ₹1,008,000.

The Lead Managers for GRE Renew Enertech IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Share India Capital Services Pvt.Ltd.. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.

For SME (Small and Medium-sized Enterprise) IPOs, a Market Maker is appointed to ensure liquidity and stability for the stock once it is listed. They do this by continuously quoting bid and ask prices, ensuring there is a market for the shares. The appointed market maker for this IPO is Share India Securities Ltd. You can analyze their track record by checking the Market Maker Performance Summary report.

For detailed information, Refer to the GRE Renew Enertech Limited RHP.

GRE Renew Enertech IPO Details

Open Date

13 Jan 2026

Close Date

16 Jan 2026

Listing Date

21 Jan 2026

Issue Price

₹100 - ₹105

Face Value

₹10 per share

Lot Size

1200

GMP

₹7 (6.67%)

Issue Type

IPO

Listing On

BSE

Type

Book Built Issue

Share holding pre issue

10520000

Share holding post issue

14288000

Total Issue Size

37,68,000 shares (aggregating up to ₹39.56 Cr.)

Fresh Issue

37,68,000 shares (aggregating up to ₹39.56 Cr.)

Offer for Sale

GRE Renew Enertech IPO Subscription

GRE Renew Enertech IPO Application Wise Breakup

GRE Renew Enertech IPO Dates

13 Jan 2026
Opening dateOpen
16 Jan 2026
Closing dateClose
19 Jan 2026
Allotment Date Allotment
20 Jan 2026
Initiation of RefundsRefund
20 Jan 2026
Credit of SharesCredit
21 Jan 2026
Listing dateListing

GRE Renew Enertech IPO Lot Size

Application	Lots	Shares	Amount
Individual Minimum	2	2400	₹252,000
Individual Maximum	2	2400	₹252,000
SHNI Minimum	3	3600	₹378,000
SHNI Maximum	7	8400	₹882,000
BHNI Minimum	8	9600	₹1,008,000

GRE Renew Enertech IPO Reservation

Promoter Holding

Pre Issue:95.06%

Post Issue:69.99%

Promoter Names:

Mr. Kamleshkumar Dahyalal Patel, Mr. Kirtikumar Kantilal Suthar, Mr. Mukeshkumar Prahladbhai Trivedi

Documents

› GRE Renew Enertech IPO DRHP

› GRE Renew Enertech IPO RHP

› Anchor Investors in GRE Renew Enertech IPO

GRE Renew Enertech IPO Valuations

ROE:26.89%

ROCE:29.60%

DEBT/EQUITY:0.05

RONW:26.89%

PAT MARGIN:8.39%

PRICE TO BOOK VALUE:3.54

P/E Pre IPO:15.72

P/E Post IPO:21.35

GRE Renew Enertech Financial Information

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	45.46	49.12	51.65
Total Income	84.37	92.15	53.11
Profit After Tax	7.03	9.91	0.89
EBITDA	9.48	11.48	1.31
NET Worth	31.23	21.03	11.14
Reserves and Surplus	20.71	19.78	9.89
Total Borrowing	1.59	4.57	4.75
Amount in ₹ Crore

About GRE Renew Enertech IPO

GRE Renew Enertech Limited is engaged in the business of solar energy solutions and LED lighting products. While the Company initially operated as a manufacturer of LED lighting solutions, it has since transitioned to focus primarily on solar power systems, offering solutions across rooftop and ground-mounted installations for residential, commercial, and industrial customers.

Business Model

GRE Renew Enertech operates through two principal delivery models:

CAPEX (EPC) Model:
Under this model, customers fund and own the solar power systems, while the Company provides end-to-end Engineering, Procurement, and Construction (EPC) services, including design, procurement, construction, commissioning, and grid connectivity.
RESCO (Opex) Model:
In the RESCO model, the Company invests in and owns rooftop solar systems installed at customer premises and earns annuity-based income through monthly tariffs paid by consumers. This model enables customers to adopt solar energy without upfront capital expenditure, while the Company manages system ownership and operations.

Products and Services

EPC Services: Turnkey solar solutions covering project design, installation, commissioning, and optional operation and maintenance.
Rooftop Solar Systems (On-Grid): Grid-connected systems designed to reduce electricity costs by supplying solar power and exporting surplus energy to the grid.
Rooftop Solar Systems (Hybrid): Integrated solutions combining solar panels, battery storage, and grid access to ensure uninterrupted and sustainable power supply.
PV Modules: High-efficiency solar modules engineered for reliable performance across varied operating conditions.

Through its focus on renewable energy deployment and flexible commercial models, GRE Renew Enertech Limited aims to support the adoption of clean energy solutions and contribute to India’s transition toward sustainable power generation.

Strength Of GRE Renew Enertech IPO

Comprehensive end-to-end EPC solutions provider with a global execution track record.
Strong relationship with customers and other key stakeholders.
Well-equipped with advance technology.
Experienced Promoters and Technically Sound Operation Team.
Track record of growth and profitability.
Long term relationship with clients and repeat business.

Risk Of GRE Renew Enertech IPO

The company may be unable to accurately estimate costs under fixed-price EPC contracts, fail to maintain the quality and performance guarantees under its EPC contracts, The company may experience delays in completing the construction of solar power projects, which may increase its construction costs and working capital requirements and thus may have a material adverse effect on the company financial condition, cash flow and results of operations.
The company operates in a competitive industry and as such its may not be successful in bidding for and winning bids for solar power projects to grow the company business at national level, which may have a material adverse effect its business, financial condition, results of operations and prospects.
The company has projects mainly concentrated in one state - Gujarat. Any geographical disturbance in Gujarat can heavily adversely affect its business.
The company business operations relies on consistent solar weather conditions and unfavourable solar weather conditions could have a material adverse effect on its business, financial condition and results of operations.
The company, inter-alia, bid for projects funded by the Central and State Governments and derives its revenues from the work orders awarded to the company. Any reduction in budgetary allocation to its industry sector may affect the number of projects that the government authorities/bodies may plan to develop in a particular period.
The company relies on its in-house designing and engineering team for project execution.
The company Order Book may not be representative of its future results and the company actual income may be significantly less than the estimates reflected in its Order Book, which could adversely affect the company results of operations.
Delays in the completion of current and future projects could lead to termination of engineering, procurement and construction ("EPC") agreements or cost overruns, which could have an adverse effect on the company cash flows, business, results of operations and financial condition.
The Objects of the Issue for which funds are being raised, are based on the company management estimates and any bank or financial institution or any independent agency has not appraised the same.
The company has experienced negative operating cash flows in the past. Any operating losses or negative cash flows in the future could adversely affect its results of operations and financial conditions.