GRE Renew Enertech IPO
GMP, Subscription, Price, Dates & Financial Details
Power and Energy
GRE Renew Enertech Limited operates in the renewable energy sector, primarily focusing on solar energy solutions, with an additional presence in LED lighting products. The company initially began as a manufacturer of LED lighting solutions and has since strategically transitioned its core business…
Open Date
Tue, 13 Jan 2026
Close Date
Fri, 16 Jan 2026
Price Band
₹ 100 – 105
Lot Size
1200
Issue Size
₹ 40.00 Cr
Minimum Investment
₹ 252,000 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
GRE Renew Enertech IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹40.00 Crore.
The GRE Renew Enertech IPO remained open for subscription from January 13, 2026, to January 16, 2026. The basis of allotment was finalized on January 19, 2026, and the company's shares were listed on BSE SME Platform on January 21, 2026.
The company had fixed the price band at ₹100 to ₹105 per share, with a lot size of 1200 shares. Retail investors were required to make a minimum investment of ₹252,000 (based on the upper price band) to apply for one lot.
Maashitla Securities Pvt. Limited served as the registrar to the issue. Share India Capital Services Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, GRE Renew Enertech Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
GRE Renew Enertech IPO Timeline (Tentative)
- IPO Open Date
- Tue, 13 Jan 26
- IPO Close Date
- Fri, 16 Jan 26
- Basis of Allotment
- Mon, 19 Jan 26
- Initiation of Refunds
- Tue, 20 Jan 26
- Credit of Shares to Demat
- Tue, 20 Jan 26
- Listing Date
- Wed, 21 Jan 26 — NSE & BSE
Open Date
13 January 2026
Close Date
16 January 2026
Basis Of Allotment
19 January 2026
Listing Date
21 January 2026
IPO Subscription
Check Live Subscription →The GRE Renew Enertech IPO has received bids for 4,17,58,800 shares against 25,14,000 shares offered, resulting in an overall subscription of 16.61x. the NII category is subscribed 25.02x, Retail Investors 14.1x, and QIBs 14.69x.
QIB
14.69x
NII
25.02x
RII
14.1x
Total
16.61x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 12,60,000 shares, representing 50.12% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 7,14,000 shares (28.4%), while Non-Institutional Investors (NIIs) receive 5,40,000 shares (21.48%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 714,000 | 28.4% |
| Non-Institutional | 540,000 | 21.48% |
| BNII | 360,000 | 14.32% |
| SNII | 180,000 | 7.16% |
| Retail Investors | 1,260,000 | 50.12% |
| Total | 2,514,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 42.77 | 45.46 | 49.12 | 51.65 |
| Revenue | 43.98 | 84.37 | 92.15 | 53.11 |
| Profit After Tax | 4 | 7.03 | 9.91 | 0.89 |
| Net Worth | 35.22 | 31.23 | 21.03 | 11.14 |
| Reserve & Surplus | 24.7 | 20.71 | 19.78 | 9.89 |
| Total Borrowings | 1.45 | 1.59 | 4.57 | 4.75 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
GRE Renew Enertech Limited KPI Information
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 12.04 | 26.89 | 61.58 | 8.54 |
| ROCE % | 15.3 | 29.6 | 51.04 | 11.56 |
| Debt / Equity | 0.04 | 0.05 | 0.22 | 0.43 |
| RoNW % | 12.04 | 26.89 | 61.58 | 8.54 |
| Pat Margin % | 9.13 | 8.39 | 10.96 | 1.71 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| GRE Renew Enertech Ltd | 10 | 0.00 | 6.69 | 6.69 | 41.93 | 20.72 |
| Oriana Power Ltd | 10 | 15.99 | 81.92 | 81.92 | 48.62 | 256.26 |
| Zodiac Energy Ltd | 10 | 29.27 | 13.38 | 13.27 | 27.71 | 64.00 |
About GRE Renew Enertech Limited
GRE Renew Enertech Limited operates in the renewable energy sector, primarily focusing on solar energy solutions, with an additional presence in LED lighting products. The company initially began as a manufacturer of LED lighting solutions and has since strategically transitioned its core business toward solar power generation and related services.
GRE Renew Enertech offers comprehensive solar solutions, including rooftop and ground-mounted solar installations, catering to commercial, industrial, and institutional customers.
Business Model
The company operates through two primary solar deployment models:
1. CAPEX Model (EPC – Engineering, Procurement & Construction)
Under the CAPEX model, the customer invests in and owns the solar power system. GRE Renew Enertech acts as the EPC contractor, delivering end-to-end project execution, including:
- System design and engineering
- Procurement of solar modules and balance-of-system components
- Installation, construction, and commissioning
- Grid synchronization and handover
- Optional operation and maintenance (O&M) services
This model ensures complete turnkey delivery of photovoltaic (PV) plants with reliable performance and regulatory compliance.
2. RESCO Model (OPEX)
In the RESCO (Renewable Energy Service Company) model, GRE Renew Enertech invests in, owns, and operates rooftop solar systems installed at customer premises. The company generates long-term annuity income by selling solar power to customers at predetermined monthly tariffs.
While this model offers recurring revenue and customer convenience, access to low-cost financing remains a critical factor for scalability.
Products and Services
1. EPC Services
Provision of turnkey solar EPC solutions, covering the entire project lifecycle—from feasibility analysis and system design to commissioning and post-installation maintenance.
2. Rooftop Solar Systems (On-Grid)
Grid-connected solar systems designed to reduce electricity costs by supplying clean power for self-consumption, with surplus energy exported to the utility grid under applicable net-metering policies.
3. Rooftop Solar Systems (Hybrid)
Hybrid systems integrate solar panels, battery storage, and grid connectivity, ensuring uninterrupted power supply during grid outages while maximizing renewable energy utilization.
4. PV Modules
High-efficiency photovoltaic modules engineered for durability and consistent performance across diverse environmental conditions, suitable for residential, commercial, and industrial applications.
GRE Renew Enertech IPO Promoters
- Mr. Kamleshkumar Dahyalal Patel
- Mr. Kirtikumar Kantilal Suthar
- Mr. Mukeshkumar Prahladbhai Trivedi
Promoters Holding
Holding Pre Issue
95.06%
Holding Post Issue
69.99%
GRE Renew Enertech IPO Objective
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant
- General corporate purposes
GRE Renew Enertech Limited Address / Contact Details
GRE Renew Enertech Ltd. Address
Plot no. 423,
G.I.D.C.-II
Dediyasan
Mehsana, Gujarat, 384002
Email: cs@greindia.com
Tel No.: +91 9974039300
Website:https://greindia.com/
IPO Snapshot
GRE Renew Enertech IPO Lot Size
The GRE Renew Enertech IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,52,000 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,52,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 252,000.00 |
| Retail (Max) | 2 | 2,400 | 252,000.00 |
| S-HNI (Min) | 3 | 3,600 | 378,000.00 |
| S-HNI (Max) | 7 | 8,400 | 882,000.00 |
| B-HNI (Min) | 8 | 9,600 | 1,008,000.00 |
Issue Reservation
- QIB — 28.4%
- NII — 21.48%
- RII — 50.12%
Book Running Lead Managers
- Share India Capital Services Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the GRE Renew Enertech IPO?
GRE Renew Enertech IPO is a Book-building IPO with a total issue size of ₹40 crore. The GRE Renew Enertech IPO price band is ₹100 to 105 per share. The GRE Renew Enertech IPO subscription opens on Tue, Jan 13, 2026, and closes on Fri, Jan 16, 2026. The GRE Renew Enertech IPO will be listed on the BSE. Maashitla Securities Pvt. Limited is the registrar for the GRE Renew Enertech IPO.
When will the GRE Renew Enertech IPO open for subscription?
The GRE Renew Enertech IPO opens on Tue, Jan 13, 2026 and closes on Fri, Jan 16, 2026
What is GRE Renew Enertech IPO Price Band?
GRE Renew Enertech IPO Price Band is ₹100 to 105 per share.
What is GRE Renew Enertech IPO Lot Size?
GRE Renew Enertech IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹252000 based on the upper price band
What is the minimum investment for GRE Renew Enertech IPO?
The minimum investment for GRE Renew Enertech IPO is ₹252000, based on one lot of 1200 shares at the upper price band of ₹105 per share.
How to apply for GRE Renew Enertech IPO?
Investors can apply for the GRE Renew Enertech IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jan 16, 2026. The application amount remains blocked until the GRE Renew Enertech IPO allotment is finalized.
What is GRE Renew Enertech IPO Issue Size?
GRE Renew Enertech IPO issue size is ₹40 crores.
What is the GRE Renew Enertech IPO Allotment Date?
GRE Renew Enertech IPO allotment date is Mon, Jan 19, 2026.
Who is the GRE Renew Enertech IPO Registrar?
The registrar for GRE Renew Enertech IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website to check GRE Renew Enertech IPO allotment status, refund processing, and other IPO-related information.
What is the GRE Renew Enertech IPO GMP?
The GRE Renew Enertech IPO GMP (Grey Market Premium) is ₹1 as of Wed, Jan 21, 2026. Based on the upper price band of ₹105 per share, the estimated GRE Renew Enertech IPO listing price is ₹106, indicating a potential listing gain of approximately 0.95% over the issue price.
Who is the GRE Renew Enertech IPO Lead Manager?
The book-running lead managers (BRLMs) for the GRE Renew Enertech IPO are Share India Capital Services Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the GRE Renew Enertech IPO Red Herring Prospectus (RHP).