About
GRE Renew Enertech IPO is a book build issue of ₹39.56 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹39.56 crore.
GRE Renew Enertech IPO bidding started from Jan 13, 2026 and ended on Jan 16, 2026. The allotment for GRE Renew Enertech IPO was finalized on Jan 19, 2026. The shares got listed on BSE SME on Jan 21, 2026.
GRE Renew Enertech IPO price band is set at ₹105 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,52,000 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,78,000.
Share India Capital Services Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Share India Securities Ltd..
Refer to GRE Renew Enertech IPO RHP for detailed Information.
IPO Stock Quote & Charts
IPO Open
Tue, Jan 13, 2026
IPO Close
Fri, Jan 16, 2026
Issue Price
₹105 per share
Market Cap (Pre-IPO)
₹150.02 Cr
IPO Details
| IPO Date | 13 to 16 Jan, 2026 |
| Listed on | Wed, Jan 21, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹105 |
| Issue Price | ₹105 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 37,68,000 shares (agg. up to ₹40 Cr) |
| Reserved for Market Maker | 1,92,000 shares (agg. up to ₹2 Cr) Share India Securities Ltd. |
| Net Offered to Public | 35,76,000 shares (agg. up to ₹38 Cr) |
| Share Holding Pre Issue | 1,05,20,000 shares |
| Share Holding Post Issue | 1,42,88,000 shares |
| BSE Script Code | 544682 |
| ISIN | INE0U8P01015 |
IPO Timetable
- IPO OpenTue, Jan 13, 2026
- IPO CloseFri, Jan 16, 2026
- AllotmentMon, Jan 19, 2026
- RefundTue, Jan 20, 2026
- Credit of SharesTue, Jan 20, 2026
- ListingWed, Jan 21, 2026
IPO Reservation
GRE Renew Enertech IPO offers total 37,68,000 shares. Out of which 17,76,000 (47.13%) allocated to QIB, 7,14,000 (18.95%) allocated to QIB (Ex- Anchor), 5,40,000 (14.33%) allocated to
NII
12,60,000 (33.44%) allocated to RII and 10,62,000 (28.18%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,92,000 (5.10%) |
| QIB Shares Offered | 17,76,000 (47.13%) |
| − Anchor Investor Shares Offered | 10,62,000 (28.18%) |
| − QIB (Ex. Anchor) Shares Offered | 7,14,000 (18.95%) |
| NII (HNI) Shares Offered | 5,40,000 (14.33%) |
| − bNII > ₹10L | 3,60,000 (9.55%) |
| − sNII < ₹10L | 1,80,000 (4.78%) |
| Retail Shares Offered | 12,60,000 (33.44%) |
| Total Shares Offered | 37,68,000 (100.00%) |
IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,52,000 |
| Individual investors (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 |
IPO Anchor Investors
GRE Renew Enertech IPO raises ₹11.15 crore from anchor investors. GRE Renew Enertech IPO Anchor bid date is January 12, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Jan 12, 2026 |
| Shares Offered | 10,62,000 |
| Anchor Portion (₹ Cr.) | 11.15 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Feb 18, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Apr 19, 2026 |
About GRE Renew Enertech Ltd.
GRE Renew Enertech Limited is engaged in the business of solar energy solutions and LED lighting products.
They offer rooftop and ground-mounted solar installations, as well as indoor and outdoor LED lighting solutions.
The company, originally a manufacturer of LED lighting solutions, now primarily focuses on solar energy.
Business Model:
- CAPEX Model (EPC) (Engineering, Procurement and Construction): The company follows the CAPEX model, where consumers own and fund solar systems, while EPC services manage engineering, procurement, construction, and commissioning, ensuring complete PV plant delivery and grid connection.
- RESCO Model (Opex): The company uses the RESCO model, where it funds and owns rooftop solar systems, earning annuity income while consumers pay monthly tariffs, though securing low-cost capital remains a key challenge.
Products and services:
- EPC (Engineering, Procurement, and Construction):Turnkey solar solutions from design to commissioning, including operation and maintenance as required.
- Rooftop Systems (On-Grid):Grid-tied solar systems reduce electricity bills by supplying power and feeding excess to the grid.
- Solar Rooftop Systems (Hybrid):Combines solar panels, batteries, and grid access to ensure a continuous, eco-friendly power supply anytime.
- PV Module:High-efficiency, reliable solar modules suitable for various applications with strong performance in all conditions.
Competitive Strengths:
- Experience Management Team
- Training and Skill development programs to strengthen Operation & Maintenance Team
- Existing number, visible order book, and favourable national policy support
- 24/7 Premium Support System
- ESG (Environment, Social and Governance)
Company Financials (Restated Consolidated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 42.77 | 45.46 | 49.12 | 51.65 |
| Total Income | 43.98 | 84.37 | 92.15 | 53.11 |
| Profit After Tax | 4.00 | 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 | 24.70 | 20.71 | 19.78 | 9.89 |
| Total Borrowing | 1.45 | 1.59 | 4.57 | 4.75 |
| Amount in ₹ Crore | ||||
IPO Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant | 31.58 |
| 2 | General corporate purposes | 3.65 |
Key Performance Indicator (KPI)
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 12.04% | 26.89% |
| ROCE | 15.30% | 29.60% |
| Debt/Equity | 0.04 | 0.05 |
| RoNW | 12.04% | 26.89% |
| PAT Margin | 9.13% | 8.39% |
| EBITDA Margin | 13.06% | 11.33% |
| Price to Book Value | 3.54 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.68 | 5.60 |
| P/E (x) | 15.72 | 18.75 |
| Promoter Holding | 95.06% | 69.99% |
| Market Cap | ₹150.02 Cr. |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
IPO Review
GRE Renew Enertech IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
The GRE Renew Enertech IPO is subscribed 16.53 times on January 16, 2026 6:19:54 PM (Day 3). The public issue subscribed 14.10 times in the individual investors category, 14.69 times in the QIB category, and 24.67 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category |
Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 14.69 | 7,14,000 | 1,04,85,600 | 0 |
| NII* | 24.67 | 5,40,000 | 1,33,21,200 | 0 |
| bNII (> ₹10L) | 27.99 | 3,60,000 | 1,00,77,600 | |
| sNII (< ₹10L) | 18.02 | 1,80,000 | 32,43,600 | |
| Individual Investor | 14.10 | 12,60,000 | 1,77,60,000 | 0 |
| Total | 16.53 | 25,14,000 | 4,15,66,800 | 9,342 |
Total Applications: 9,342
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fee | 0.40 |
| 2 | Underwriting Commission | 1.98 |
| 3 | Fees payable to Market maker (For Three Years) | 0.09 |
| 4 | Brokerage and selling commission | 0.00 |
| 5 | Selling & Distribution Expenses | 1.40 |
| 6 | Fees payable to Registrar to the Issue | 0.01 |
| 7 | Fees Payable for Advertising and Publishing Expenses | 0.20 |
| 8 | Fees Payable to Regulators including Stock Exchanges | 0.14 |
| 9 | Payment for Printing & Stationery, Postage, etc. | 0.01 |
| 10 | Fees Payable to Statutory Auditor, Peer review Auditor, Legal Advisors and Practicing Company Secretary | 0.04 |
| 11 | Others (Commission/processing fee for SCSBs, Syndicate, RTAs, Sponsor Bank and Banker(s) to the Issue | 0.06 |
Listing Day Trading Information
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹105.00 |
| Open | ₹96.00 |
| Low | ₹91.20 |
| High | ₹99.00 |
| Last Trade | ₹91.20 |
Check IPO Performance…
IPO Registrar
Maashitla Securities Pvt.Ltd.
- +91-11-45121795-96
- ipo@maashitla.com
- Visit Website
IPO Lead Manager(s)
- Share India Capital Services Pvt.Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- +91 9974039300
- cs@greindia.com
- Visit Website
IPO FAQs
GRE Renew Enertech IPO is a SME IPO of 37,68,000 equity shares of the face value of ₹10 aggregating up to ₹40 Crores. The issue is priced at ₹105 per share. The minimum order quantity is 1200.
The IPO opens on Tue, Jan 13, 2026, and closes on Fri, Jan 16, 2026.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in GRE Renew Enertech IPO using UPI as a payment gateway. Zerodha customers can apply in GRE Renew Enertech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GRE Renew Enertech IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘GRE Renew Enertech IPO‘ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- Submit IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
The GRE Renew Enertech IPO opens on Tue, Jan 13, 2026 and closes on Fri, Jan 16, 2026.
GRE Renew Enertech IPO lot size is 1200, and the minimum amount required for application is ₹2,52,000, with 2 lots being the minimum application size.
You can apply in GRE Renew Enertech IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for GRE Renew Enertech IPO will be done on Monday, January 19, 2026, and the allotted shares will be credited to your demat account by Tue, Jan 20, 2026. Check the GRE Renew Enertech IPO allotment status.
The GRE Renew Enertech IPO listing date is on Wed, Jan 21, 2026.
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