Infrax Renewable SME IPO 2026 – GMP, Price, Date & Details

The Infrax Renewable SME IPO is a fixed-price public issue worth approximately ₹40.88 crore. The issue comprises a fresh issue of ₹33.81 crore and an Offer for Sale (OFS) of around ₹7.08 crore by promoter selling shareholders. The IPO price has been fixed at ₹104 per share.

The Infrax Renewable IPO opened for subscription on September 9, 2026, and will close on September 11, 2026. The basis of allotment is expected on September 15, followed by refunds and share credit on September 16. The shares are scheduled to list on September 17, 2026, on the BSE SME platform.

The IPO has a lot size of 1,200 shares. Since this is an SME IPO, the minimum retail application is 2 lots, or 2,400 shares, requiring an investment of ₹2,49,600 at the issue price.

Infrax Renewable IPO Details

The total issue comprises 39,31,200 equity shares. Around 32,50,800 shares are part of the fresh issue, while 6,80,400 shares are offered through the OFS.

Infrax Renewable IPO Timeline

The above dates are tentative and investors should check the latest information from the company, registrar and BSE before making an application.

Infrax Renewable IPO Lot Size

The IPO lot size is 1,200 shares. At ₹104 per share, one lot is worth ₹1,24,800. However, the minimum retail application for the SME issue is 2 lots, taking the minimum investment to ₹2,49,600.

Infrax Renewable IPO GMP

The Infrax Renewable IPO GMP (Grey Market Premium) is an unofficial indicator of market sentiment. It is not regulated or guaranteed by the company or BSE.

As of September 9, 2026, available market trackers reported the GMP at around ₹0 per share. At the issue price of ₹104, this indicates an unofficial estimated listing price of approximately ₹104, although the actual listing price can be different.

Note: GMP can change quickly and should not be considered a guaranteed listing gain.

About Infrax Renewable Limited

Infrax Renewable Limited is a renewable-energy company focused mainly on solar Engineering, Procurement and Construction (EPC) services. The company provides solar solutions for both rooftop and ground-mounted projects.

Its EPC activities cover various stages of a solar project, including design, engineering, procurement, installation, testing, commissioning and operation and maintenance services. The company also deals in solar products such as PV modules, inverters and other solar equipment.

The company was originally established as Infrax International in 2019 and was subsequently converted into Infrax Renewable Limited in 2024. It serves customers across several Indian states, including Gujarat, Uttar Pradesh, Madhya Pradesh, Maharashtra, Rajasthan and Telangana.

Infrax Renewable Business Model

The company has also entered the Independent Power Producer (IPP) segment and operates a 1.2 MW solar power plant in Gujarat, according to available company information.

Infrax Renewable Financial Performance

Infrax Renewable has reported strong growth in revenue and profit over the last few financial years.

Revenue increased sharply from ₹9.65 crore in FY2024 to ₹93.21 crore in FY2026, while PAT increased from ₹0.96 crore to ₹10.20 crore during the same period.

Infrax Renewable IPO Objectives

The company plans to use the proceeds from the fresh issue for several business purposes.

The main objectives include:

• Purchase of machinery and equipment for the proposed manufacturing facility.
• Funding working-capital requirements.
• General corporate purposes.

The company intends to invest approximately ₹12.29 crore toward capital expenditure for the proposed manufacturing facility and around ₹17 crore toward working capital, according to available IPO information.

The proceeds from the OFS portion will go to the promoter selling shareholders and will not be received by the company.

Infrax Renewable IPO Review

The Infrax Renewable SME IPO offers investors exposure to India's growing solar-energy and renewable-energy market. The company's business covers solar EPC, product trading and power generation, giving it multiple revenue streams.

Positive Factors

• Presence in the growing solar-energy sector.
• Strong revenue growth in recent years.
• Significant improvement in profitability.
• Solar EPC business covering multiple project stages.
• Presence across several Indian states.
• Expansion into manufacturing and power generation.
• Fresh capital will support capacity and working capital.

Key Risks

• SME stocks can have lower liquidity than mainboard stocks.
• The renewable-energy sector is highly competitive.
• Solar projects can face execution and working-capital challenges.
• Raw-material and equipment prices can affect margins.
• The company has a relatively short operating history as a public limited company.
• Changes in government policies and renewable-energy regulations may affect the business.

Should You Invest in Infrax Renewable IPO?

The Infrax Renewable IPO may attract investors who are comfortable with the risks associated with SME companies and want exposure to India's renewable-energy sector.

The company's strong growth in revenue and profit is encouraging, while its expansion into manufacturing and solar power generation could create additional opportunities.

However, investors should not make a decision based only on GMP. They should also examine the company's valuation, financial statements, working capital, customer concentration, debt, future expansion plans and the risks mentioned in the offer documents.

Infrax Renewable IPO – Key Highlights

Conclusion

The Infrax Renewable SME IPO is a ₹40.88 crore fixed-price issue from a company operating in the solar EPC and renewable-energy sector. The IPO price is ₹104 per share, with a lot size of 1,200 shares.

For retail investors, the minimum application is 2 lots, or 2,400 shares, requiring an investment of ₹2,49,600. The IPO opened on September 9 and closes on September 11, 2026, while the shares are scheduled to list on September 17, 2026, on BSE SME.

Infrax Renewable's strong financial growth, solar EPC capabilities and expansion plans are some of its key positives. At the same time, investors should consider SME liquidity, competition, working-capital requirements and execution risks.

GMP should be treated only as an unofficial market indicator. Investors should read the company's offer documents carefully and evaluate the IPO according to their own financial goals and risk appetite.

Infrax Renewable IPO FAQs

What is Infrax Renewable IPO?

Infrax Renewable IPO is SME IPO. The company is going to raise ₹40.88 Crores via IPO. The issue is priced at ₹104 per equity share. The IPO is to be listed on BSE.

When Infrax Renewable IPO will open for subscription?

The IPO is to open on September 9, 2026 for QIB, NII, and Retail Investors. The IPO will close on September 11, 2026.

What is Infrax Renewable IPO Investors Portion?

The investors’ portion for QIB is 0%, NII is 50%, and Retail is 50%.

How to Apply the Infrax Renewable IPO?

You can apply for Infrax Renewable IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

What is Infrax Renewable IPO Issue Size?

Infrax Renewable IPO issue size is ₹40.88 crores.

What is Infrax Renewable IPO Price Band?

Infrax Renewable IPO Price Band is ₹104.

What is Infrax Renewable IPO Lot Size?

The minimum bid is 2400 Shares with ₹2,49,600 amount.

What is the Infrax Renewable IPO Allotment Date?

Infrax Renewable IPO allotment date is September 15, 2026

What is the Infrax Renewable IPO Listing Date?

Infrax Renewable IPO listing date is September 17, 2026. The IPO is to list on BSE.