GRE Renew Enertech Limited Link 
Allotment
GRE Renew Enertech is set to launch its IPO on January 13, 2026, with the issue closing on January 16, 2026. This is a book-building issue, through which the company aims to raise approximately ₹40 crores via a fresh issue of ₹40 crores, along with an offer for sale of up to [.] equity shares with a face value of ₹10 each.
The IPO price band is ₹100 to ₹105 per share. Investors can bid for a minimum of 2,400 shares, and in multiples of 1,200 shares thereafter. The allocation will be divided as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net Worth Individuals (HNIs).
The IPO is scheduled to be listed on BSE SME on January 21, 2026, with allotment results to be announced on January 19, 2026.
Financially, the company reported a revenue of ₹84.37 crores in 2025, down from ₹92.15 crores in 2024, and a profit of ₹7.03 crores in 2025, compared to ₹9.91 crores in 2024. Considering its financial performance, the IPO is recommended for investors looking at a long-term investment horizon.
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52 Weeks High
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52 Weeks Low
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Updates On
Jan 10, 2026
IPO. Open
Jan 13, 2026
IPO. Close
Jan 16, 2026
IPO. Price
₹105.00
IPO Market price
₹150.02 Cr
IPO Details
| IPO Date | 21 Jan |
| IPO Listing Date | 21 Jan |
| IPO Face Value | ₹10.00 per share |
| IPO Price Range | ₹105.00 |
| IPO Issue Size | 37,68,000 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE SME Platform |
| Share Holding Pre Issue | 1,05,20,000 shares |
IPO Timeline
| IPO Open Date | 13 Jan |
| IPO Close Date | 16 Jan |
| IPO Allotment (Tentative) | 19 Jan |
| Refunds | 20 Jan |
| Credit to Demat Account | 20 Jan |
| IPO Listing Date | 21 Jan |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 17,76,000 Shares |
| NII (HNI) Shares Offered | 5,40,000 Shares |
| Retail Shares Offered | 12,60,000 Shares |
IPO Lot Size
Investors can bid for a minimum of 2,400 shares, and thereafter in multiples of 1,200 shares.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,52,000 |
| Retail (Max) | 2 | 2,400 | ₹2,52,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,78,000 |
| S-HNI (Max) | 7 | 8,400 | ₹8,82,000 |
| B-HNI (Min) | 8 | 9,600 | ₹10,08,000 |
GRE Renew Enertech Limited specializes in solar energy solutions and LED lighting products. The company provides both rooftop and ground-mounted solar installations, along with indoor and outdoor LED lighting solutions. Originally focused on LED lighting manufacturing, GRE Renew Enertech now primarily concentrates on the solar energy sector.
Business Model:
CAPEX Model (EPC – Engineering, Procurement, and Construction):
Consumers own and fund solar systems.
GRE Renew Enertech manages engineering, procurement, construction, and commissioning, ensuring complete delivery of PV plants and grid connection.
RESCO Model (OPEX – Renewable Energy Service Company):
The company funds and owns rooftop solar systems.
Earns annuity income, while consumers pay monthly tariffs.
Securing low-cost capital remains a key challenge under this model.
Products and Services:
EPC Solutions: Turnkey solar solutions, from design to commissioning, including operation and maintenance as needed.
Rooftop Systems (On-Grid): Grid-tied solar systems reduce electricity bills by supplying power and feeding excess energy to the grid.
Hybrid Solar Rooftop Systems: Combine solar panels, batteries, and grid access for continuous, eco-friendly power supply.
PV Modules: High-efficiency, reliable solar modules suitable for diverse applications with strong performance under varying conditions.
Competitive Strengths:
Experienced management team.
Robust training and skill development programs for operations and maintenance staff.
Established order book and strong national policy support.
24/7 premium support system.
Strong focus on ESG (Environment, Social, and Governance) initiatives.
Company Financials (Consolidated)
| 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 |
Key Performance Indicator (KPI)
| ROE | 26.89% |
| ROCE | 29.60% |
| Debt/Equity | 0.05 |
| RoNW | 26.89% |
| PAT Margin | 8.39% |
| EBITDA Margin | 11.33% |
| Price to Book Value | 3.54 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | - |
| 4 | Offer for Sale (OFS) | - |
Contact Details
GRE Renew Enertech Ltd. Address
Plot no. 423,
G.I.D.C.-II
Dediyasan
Mehsana, Gujarat, 384002
+91 9974039300
cs@greindia.com
Detail Registrar
IPO Registrar
Maashitla Securities Pvt.Ltd.
+91-11-45121795-96
ipo@maashitla.com
The IPO is a ₹40 crore book-building issue consisting entirely of a fresh issue and is proposed to be listed on the BSE SME platform.
Retail investors must apply for a minimum of 2,400 shares, requiring an investment of approximately ₹2.52 lakh at the upper price band.
The company plans to use IPO proceeds mainly to set up a 7.20 MW AC ground-mounted solar power plant and for general corporate purposes.
In FY2025, the company reported revenue of ₹84.37 crore and profit after tax of ₹7.03 crore, both declining compared to FY2024.
GRE Renew Enertech focuses on solar EPC and RESCO models, supported by an experienced team, ESG initiatives, and a growing renewable energy portfolio.
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