GRE Renew Enertech IPO Details
The key details of GRE Renew Enertech’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹39.56 Cr |
| Price Range | ₹100 - ₹105 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | BSE |
| Minimum Quantity | 2,400 |
| Investment (cut-off price) | ₹2,52,000 |
| Pre IPO Promotor Holding | 95.06% |
| Post IPO Promotor Holding | 69.99% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
GRE Renew Enertech IPO Timelines
The IPO process for GRE Renew Enertech includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
13/01/2026
Start Date16/01/2026
End Date20/01/2026
Refund Initiation20/01/2026
Credit of Shares to Demat Ac21/01/2026
Listing DateGRE Renew Enertech IPO Lot Size
The GRE Renew Enertech IPO has a fixed lot size of 1,200 shares, at an upper price band of ₹105 per share. For retail investors, the minimum and maximum application is 2,400 shares (2 lots) amounting to ₹2,52,000. For Small HNI (S-HNI) investors, the minimum application is 3,600 shares (3 lots) worth ₹3,78,000, while the maximum is 8,400 shares (7 lots) amounting to ₹8,82,000. Big HNI (B-HNI) investors need to apply for at least 9,600 shares (8 lots), totaling ₹10,08,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2400 | ₹2,52,000 |
| Retail Maximum | 2 | 2400 | ₹2,52,000 |
| S-HNI Minimum | 3 | 3600 | ₹3,78,000 |
| S-HNI Maximum | 7 | 8400 | ₹8,82,000 |
| B-HNI Minimum | 8 | 9600 | ₹10,08,000 |
GRE Renew Enertech IPO Subscription Status
The subscription status for GRE Renew Enertech IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 14.69x | 24.67x | 14.10x | -- | 16.53x |
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
GRE Renew Enertech IPO Company Financials
GRE Renew Enertech reports robust performance in FY2025 with Total Income of ₹84.37 crores, managing expenses at ₹51.59 crores, and achieving a strong PAT (Profit After Tax) of ₹7.03 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹53.11 | ₹74.91 | ₹0.89 |
| FY 2024 | ₹92.15 | ₹79.52 | ₹9.91 |
| FY 2025 | ₹84.37 | ₹51.59 | ₹7.03 |
About Company
GRE Renew Enertech Limited operates in the solar energy and LED lighting sector, offering comprehensive solutions such as rooftop and ground mounted solar installations along with indoor and outdoor LED lighting products. While the company originally focused on manufacturing LED lighting solutions, its primary business emphasis has now shifted toward solar energy, reflecting a strategic move to align with the growing demand for renewable and sustainable power solutions.
The company follows two key business models, the CAPEX model and the RESCO model. Under the CAPEX or EPC model, customers own and finance the solar systems while the company delivers end to end engineering, procurement, construction, commissioning, and grid connectivity services. Under the RESCO or Opex model, the company invests in and owns rooftop solar systems and generates annuity income by supplying power to customers on a monthly tariff basis. Its offerings include turnkey EPC services, on grid and hybrid rooftop solar systems, and high efficiency PV modules designed for reliable performance across diverse applications and operating conditions.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2008 | Energy | KAMLESH PATEL |
Know Before Investing
GRE Renew Enertech IPO Strengths
- GRE Renew Enertech offers end-to-end solar EPC solutions under CAPEX (engineering, procurement, construction, operations) and RESCO models (owns assets and supplies power via long-term agreements), with execution capability for 500+ MWp per annum.
- Near-zero leverage provides financial flexibility for growth investments and resilience during project delays or economic slowdowns.
- Benefits from India’s 500 GW renewable mandate, residential solar subsidies, PLI schemes, and accelerating energy transition across commercial/industrial segments.
- In-house engineering, procurement, and O&M capabilities enable full lifecycle control, faster project commissioning, and higher margins versus fragmented players.
- Asset ownership under long-term PPAs provides recurring annuity‑like revenue, complementing EPC margins with stable cash flows.
GRE Renew Enertech IPO Risks
- Turnover dipped marginally from ₹92.15 crore in FY24 to ₹84.37 crore in FY25, raising questions on demand consistency despite strong profitability.
- Solar EPC/RESCO involves land acquisition, approvals, grid connectivity, and weather risks; slippages can trigger penalties and cash flow strain.
- Business relies on government incentives, net metering, PLI schemes, and renewable purchase obligations; policy reversals could impact viability.
- EPC model demands upfront mobilisation and receivables from developers/utilities, with solar plant capex adding to funding needs.
- Faces established solar EPC giants like Adani Green, Tata Power Solar, and regional players with greater scale and tender experience.
- Dependence on imported solar modules exposes to panel price volatility, tariffs, and supply disruptions amid global trade tensions.
Swot Analysis for GRE Renew Enertech IPO
Strengths
Integrated Solar EPC Expertise, Technology & Innovation Focus, Gujarat Ecosystem Advantage
Weaknesses
Geographic Concentration, Revenue Decline & Margin Pressure, Talent Dependence
Opportunities
Renewable Capacity Addition, Net Metering & Open Access, Geographic Diversification
Threats
EPC Margin Compression, Competition Intensity, Execution & Weather Delays
Company Details
GRE Renew Enertech Ltd.
Plot no. 423, G.I.D.C.-II, Dediyasan, Mehsana, Gujarat, 384002
Phone: +91 9974039300
Email: cs@greindia.com
Website: http://greindia.com/
IPO Registar Details
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
FAQs
The key objectives of GRE Renew Enertech SME IPO are:
- Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant
- General corporate purposes
Share India Capital Services Pvt. Ltd. is the book-running lead managers for the GRE Renew Enertech IPO.
GRE Renew Enertech’s growth potential is supported by India’s expanding renewable energy base of over 150 GW and rising adoption of distributed solar. Execution of 50 plus MW projects, MNRE certification, RESCO based recurring revenues, and expansion into energy management software position it for sustained scaling.
The issue price for the GRE Renew Enertech IPO is set between ₹100 to ₹105 per share.
To invest in two lot of GRE Renew Enertech IPO, you need ₹2,40,000 at the lower price band (₹100 per share) or ₹2,52,000 at the upper price band (₹105 per share) for a lot size of 2400 shares.
GRE Renew Enertech IPO shares are scheduled to be listed on the Bombay Stock Exchange (BSE) on January 21, 2025.
Refund/unblocking of funds for GRE Renew Enertech IPO will begin on January 20, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your GRE Renew Enertech IPO shares on listing day (January 21, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.