The GRE Renew Enertech IPO opening date is January 13, 2026, and the IPO will close on January 16, 2026. The GRE Renew Enertech IPO is a book building issue. The company will raise approximately ₹40 crore through the IPO, which includes a fresh issue of ₹40 crore and an offer for sale of up to [.] equity shares with a face value of ₹10.
The price band for the GRE Renew Enertech IPO is ₹100 to ₹105 per share. The retail quota is 35%, QIB 50%, and HNI 15%. The GRE Renew Enertech IPO will be listed on the BSE SME on January 21, 2026. The allotment date for the GRE Renew Enertech IPO is January 19, 2026.
The company reported revenue of ₹84.37 crore in 2025, compared to ₹92.15 crore in 2024. The company reported a profit of ₹7.03 crore in 2025, compared to ₹9.91 crore in 2024. According to financials, IPO investors should apply for the long-term IPO.
About the GRE Renew Enertech IPO
Since its inception in 2006, GRE Renew Enertech Limited has been providing rooftop and ground-mounted solar solutions to industrial and commercial customers. Its business is divided into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). Under the CAPEX segment, the firm engages in the engineering, procurement, construction, and operation of solar projects. Under the RESCO model, the company enters into agreements with rooftop owners to install and operate solar systems on their rooftops.
This business also manufactures light-emitting diode (“LED”) lighting solutions. However, over the past few years, the company's primary focus has been on solar energy solutions. GRE Renew Enertech's primary goal is to become the preferred choice of top-quality solar solution provider for industrial and commercial customers.
GRE Renew Enertech Limited operates in solar energy solutions and LED lighting, and now focuses primarily on solar power projects.
It provides rooftop and ground-mounted solar installations, as well as indoor and outdoor LED lighting solutions.
It operates under two business models:
• CAPEX (EPC) model – turnkey solar project completion, where clients fund and build the system themselves, and the company handles engineering, procurement, construction, and commissioning.
• RESCO (Opex) model – Company-owned rooftop solar systems generate annuity income, while customers pay a monthly tariff.
The service portfolio includes EPC turnkey solutions, on-grid rooftop systems, hybrid rooftop systems, and high-efficiency PV modules.
The proceeds from the IPO will be used to build a 7.20 MW (AC) / 9.99 MW (DC) ground-mounted solar power plant (₹32.61 crore) and for general corporate purposes.
Strengths
Experienced management team – Strong leadership with sector knowledge helps drive project completion and growth.
Skilled O&M workforce – Continuous training and skill development strengthens operations and maintenance capabilities.
Visible order book and policy prospects – Existing projects and supportive national renewable energy policies help project growth.
Weaknesses
EPC completion risk – Cost overruns, delays, or failure to meet performance guarantees under fixed-price contracts can impact margins and cash flow.
High competition in solar EPC – Intense bidding competition can hinder project wins and national expansion.
Geographical Concentration – Over-reliance on projects in Gujarat causes businesses to face regional constraints.
GRE Renew Enertech
January 13, 2026 – January 16, 2026
| GMP Rumors * | ₹9 |
|---|---|
| Price | ₹100 - ₹105 |
| Lot size | 1200 |
| Issue size | ₹40.00 cr |
| Allotment | Jan 19, 2026 |
| Listing | Jan 21, 2026 |
GRE Renew Enertech Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 2400 | 252000 | 525 |
| sHNI | 3 | 3600 | 378000 | 50 |
| bHNI | 8 | 9600 | 1008000 | 100 |
GRE Renew Enertech Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 3768000 | 100% |
| Anchor | 1062000 | 28.18% |
| QIB | 714000 | 18.95% |
| HNI | 540000 | 14.33% |
| INDIVIDUAL | 1260000 | 33.44% |
| Market Maker | 192000 | 5.1% |
GRE Renew Enertech About
IPO Details
| Total Issue Size | 37,68,000 shares (aggregating up to ₹40 Cr) |
| Fresh Issue | 37,68,000 shares (aggregating up to ₹40 Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Book building IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,05,20,000 shares |
| Share Holding Post Issue | 1,42,88,000 shares |
| Reserved for Market Maker | 1,92,000 shares (aggregating up to ₹2 Cr) |
| Market Maker | Share india securities limited |
Key Performance Indicators (KPI)
| KPI | Sep-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| ROE | 12.04% | 26.89% | 61.58% |
| RONW | 12.04% | 26.89% | 61.58% |
| EPS (BASIC) | 3.80 | 6.71 | 9.91 |
| P/E Pre IPO | 15.72 | ||
| P/E Post IPO | 18.75 |
Company Financial (In ₹Crore)
| Period Ended | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 42.77 | 45.46 | 49.12 | 51.65 |
| Total Income | 43.98 | 84.37 | 92.15 | 53.11 |
| Profit After Tax | 4 | 7.03 | 9.91 | 0.89 |
| EBITDA | 5.72 | 9.48 | 11.48 | 1.31 |
| NET Worth | 35.22 | 31.23 | 21.03 | 11.14 |
| Reserves and Surplus | 24.7 | 20.71 | 19.78 | 9.89 |
| Total Borrowing | 1.45 | 1.59 | 4.57 | 4.75 |
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| GRE Renew Enertech Ltd. | 15.72 | - | 10.00 |
| Oriana Power Limited | 15.99 | 1309.85 | 10.00 |
| Zodiac Energy Limited | 29.27 | 391.65 | 10.00 |
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| GRE Renew Enertech Ltd. | 20.72 | 41.93 | 6.69 |
| Oriana Power Limited | 256.26 | 48.62 | 81.92 |
| Zodiac Energy Limited | 64 | 27.71 | 13.38 |
You can visit our newipo.info website for information on any IPO, stock market, gold, crypto investment, etc. Our workers diligently research all the information on this site and make it available to you.
Read more https://newipo.info/blogs
Read more https://newipo.info/top-brokers
Read more https://newipo.info/