GRE Renew Enertech Limited, a specialized player in the renewable energy sector, is hitting the capital markets on Tuesday, January 13, 2026. The issue is a 100% fresh offering of 37.68 lakh equity shares. The company has fixed a price band of ₹100 to ₹105 per share.

The company provides end-to-end solar solutions, including rooftop and ground-mounted installations. A major portion of the IPO proceeds (₹32.61 crore) is earmarked for setting up a 7.20 MW (AC) ground-mounted solar power plant under the RESCO model, which will provide the company with long-term annuity-based income.

Financially, the company reported a total income of ₹84.37 crore and a Profit After Tax (PAT) of ₹7.03 crore for the fiscal year ended March 31, 2025. As of today, January 12, 2026, the Grey Market Premium (GMP) is trading at approximately ₹9, suggesting a listing gain of about 8.5%.

Key IPO Details & Timetable

*Note: For this specific issue, retail investors are required to apply for a minimum of 2 lots (2,400 shares).

Important Note for Investors

• Dual Revenue Model: The company’s move into the RESCO (Renewable Energy Service Company) model is significant. Unlike one-time EPC (Engineering, Procurement, Construction) contracts, RESCO projects generate steady monthly revenue over a 15–25 year period.

• Financial Health: GRE Renew Enertech maintains a very healthy Debt-to-Equity ratio of 0.05, indicating a strong balance sheet with minimal reliance on external debt before the IPO.

• Execution Risks: The company operates primarily with fixed-price EPC contracts. Any delay in project execution or rise in the cost of solar modules could directly impact their profit margins.

• Geographical Concentration: Most of the company’s current projects are concentrated in Gujarat. While this provides operational efficiency, it also exposes the company to regional policy changes or economic shifts.