Infrax Renewable IPO Details
Infrax Renewable IPO Summary
Infrax Renewable IPO opens for subscription on 09 Sep 2026 and closes on 11 Sep 2026.The IPO will be listed on BSE with the tentative listing date set for 17 Sep 2026.
Infrax Renewable IPO price band has been fixed at ₹104 – ₹104 per share. The face value is ₹10 per share with a lot size of 1200.
Infrax Renewable IPO total issue size comprises 39,31,200 shares (aggregating up to ₹40.88 Cr). This includes a fresh issue of 32,50,800 shares (aggregating up to ₹33.81 Cr). Offer for Sale consists of 6,80,400 shares (aggregating up to ₹7.08 Cr). Pre-issue shareholding stands at 1,09,85,111, which will increase to 1,42,35,911 post-issue.
Infrax Renewable IPO carries a ₹0 (0%) GMP, reflecting investor sentiment.
Infrax Renewable IPO Lot Size :Individual Minimum is 2 lots (2,400 shares) amounting to ₹2,49,600. Individual Maximum is 2 lots (2,400 shares) amounting to ₹2,49,600. HNI Minimum is 3 lots (3,600 shares) amounting to ₹3,74,400.
Infrax Renewable IPO Details
Infrax Renewable IPO Dates
- 09 Sep 2026Opening dateOpen
- 11 Sep 2026Closing dateClose
- 15 Sep 2026Allotment Date Allotment
- 16 Sep 2026Initiation of RefundsRefund
- 16 Sep 2026Credit of SharesCredit
- 17 Sep 2026Listing dateListing
Infrax Renewable IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Minimum | 2 | 2400 | ₹2,49,600 |
| Individual Maximum | 2 | 2400 | ₹2,49,600 |
| HNI Minimum | 3 | 3600 | ₹3,74,400 |
Infrax Renewable IPO Reservation
Promoter Holding
Documents
Infrax Renewable IPO Valuations
Infrax Renewable Financial Information
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 31.53 | 8.24 | 4.40 |
| Total Income | 93.33 | 30.48 | 9.66 |
| Profit After Tax | 10.20 | 2.85 | 0.96 |
| EBITDA | 14.56 | 4.50 | 1.76 |
| NET Worth | 15.77 | 1.89 | 1.40 |
| Reserves and Surplus | 14.52 | 0.89 | |
| Total Borrowing | 6.99 | 3.02 | |
| Amount in ₹ Crore | |||
About Infrax Renewable IPO
Incorporated in September 2024, Infrax Renewable Limited is a solar energy company engaged in providing Engineering, Procurement and Construction (EPC) services for rooftop and ground-mounted solar power projects. The company also supplies a wide range of solar products, including solar PV modules, inverters, and related equipment, and operates as an Independent Power Producer (IPP) through its own solar power plant in Gujarat under a Power Purchase Agreement (PPA) with PGVCL.
Business Operations:
- EPC Services: They provide end-to-end solar EPC services, including project design, engineering, procurement, installation, testing, commissioning, O&M, and regulatory assistance. Our projects include rooftop solar projects for residential customers and ground-mounted projects for commercial customers.
- Independent Power Producer (IPP) They operate as an Independent Power Producer by generating and selling electricity to Paschim Gujarat Vij Company Limited (PGVCL) under a 25-year Power Purchase Agreement. In 2026, we commissioned a 1.2 MW solar power plant at Bhadla, Jasdan, Rajkot, Gujarat.
- Sale of Solar Products They also supply various solar products, including Solar PV Modules, Solar PV Inverters, and other solar products. Our PV modules include both polycrystalline and monocrystalline panels, sourced domestically and internationally.
The company offers end-to-end solar solutions covering project design, engineering, procurement, installation, testing, commissioning, and operation & maintenance (O&M) services. It serves customers across residential, commercial, and industrial segments through an extensive dealer network and has been empanelled as a national vendor under the PM Surya Ghar: Muft Bijli Yojana. Infrax currently operates warehouses in Rajkot, Ahmedabad, and Kanpur, along with branch offices across Gujarat, Maharashtra, Madhya Pradesh, and Uttar Pradesh, with services supplied across multiple Indian states.
As of March 31, 2026, the team comprised 52 permanent employees.
Strength Of Infrax Renewable IPO
- Established track record for execution of solar EPC solutions.
- Strong relationship with customers.
- Wide range of our products.
- Financial Stability Through the PPA Model.
- Established relationship with suppliers.
- Dealership network and presence in across various states.
- Strategic location of our warehouses and branch offices.
Risk Of Infrax Renewable IPO
- The Company has been recently formed by conversion of the erstwhile partnership firm into the company; thus, the company has limited operating history as a Company which may make it difficult for investors to evaluate its historical performance or future prospects.
- The company's business is dependent on the continued availability of government policies, subsidies, incentives and other support mechanisms applicable to the solar sector. Any withdrawal, reduction, delay, adverse regulatory development or unfavourable modification of such policies, subsidies or incentives may adversely affect demand for its products and services, impact profitability, and consequently have a material adverse effect on the company's business, results of operations, cash flows and financial condition.
- The company depends on its dealers for a significant portion of the company's revenue, and any decrease in revenues or sales from any one of its dealers may adversely affect the company's business and results of operations.
- The company generates its major portion of turnover from the company operations in certain geographical regions and any adverse developments affecting its operations in these regions could have an adverse impact on the company's revenue and results of operations.
- The company's business is dependent on the sale of its products and providing rooftop and ground-mounted solar projects services to certain key customers. The loss of any of these customers or loss of revenue from sales to these customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- The Company is dependent on limited number of suppliers, within limited geographical locations for procurement of raw materials and solar products. Any delay, interruption or reduction in the supply of products required for its services may adversely affect the company's business, results of operations, cash flows and financial condition.
- The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.
- The company does not own the registered office and warehouses from which its carry out the company's business activities. In case of nonrenewal of rent agreements or dispute in relation to use of the said premises, its business and results of operations can be adversely affected.
- Any delay in setting up the proposed manufacturing facility may also result in delays in procurement and installation of machineries and equipments. Further, any cost or time overruns in relation thereto may adversely affect the implementation of the company's manufacturing operations and could have a material adverse effect on its business, financial condition, results of operations and growth prospects.
- The Company is yet to place orders for the machinery from outside India for the setting up the manufacturing facility. Any delay in placing orders or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
Objectives Infrax Renewable IPO
1. Funding of capital expenditure of the Company towards purchase of machineries and equipments for proposed manufacturing facility
2. Funding working capital requirements of the Company
3. General corporate purposes
4. Issue Expenses
Company Contact Details
402-403, R K Prime 2 Mahapuja Dham Chok, 150 Feet Road Malviyanagar
Rajkot, Gujarat , 360004
Phone: +91 7874074000
Email: investor@infraxrenewable.com
Website: https://infraxrenewable.com/
Registrar Contact Details
Infrax Renewable FAQs
The Infrax Renewable IPO is a SME public issue comprising 3931200 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹40.88 Cr. The issue price has been fixed at ₹104 per equity share, and the minimum application size is 1200 shares.
The IPO opens for subscription on 09 Sep 2026, and closes on 11 Sep 2026.
Bigshare Services Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the BSE
As of now, the current GMP stands at ₹0 (0%).
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