GRE Renew Enertech
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05 GRE Renew Enertech IPO Details
- 06 GRE Renew Enertech IPO Market Lot
- 07 IPO Reservation
- 08 GRE Renew Enertech IPO Anchor Investors
- 09 GRE Renew Enertech IPO Dates
- 10 Promoters and Holding Pattern
- 11 Objects of the Issue & Utilisation of Proceeds
- 12 About GRE Renew Enertech IPO
- 13 GRE Renew Enertech IPO Company Financial Report
- 14 RE Renew Enertech IPO Valuation – FY2025
- 15 Peer Group Comparison
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 21 Jan 2026 | ₹1.00 | -₹5.00 | 0.95% |
| 19 Jan 2026 | ₹6.00 | -₹1.00 | 5.71% |
| 14 Jan 2026 | ₹7.00 | +₹1.00 | 6.67% |
| 13 Jan 2026 | ₹6.00 | -₹3.00 | 5.71% |
| 12 Jan 2026 | ₹9.00 | - | 8.57% |
GRE Renew Enertech IPO DETAILS
| IPO Open Date | January 13, 2026 |
| IPO Close Date | January 16, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹100 to ₹105 Per Share |
| Issue Size | Approx ₹40 Crores |
| Fresh Issue | Approx ₹40 Crores |
| Issue Type | Bookbuilding Issue |
| IPO Listing | BSE SME |
GRE Renew Enertech IPO Market LOT
The GRE Renew Enertech IPO minimum market lot is 2,400 shares with an application amount of ₹2,52,000.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 2,400 | ₹2,52,000 |
| Retail Maximum | 2,400 | ₹2,52,000 |
| S-HNI Minimum | 3,600 | ₹3,78,000 |
| S-HNI Maximum | 8,400 | ₹8,82,000 |
| B-HNI Minimum | 9,600 | ₹10,08,000 |
IPO RESERVATION
| Investor Category | Shares Offered | Percentage |
|---|---|---|
| Anchor Investor | – | – |
| QIB (Ex. Anchor) | – | 50% |
| NII (HNI) | – | 35% |
| Retail Individual Investors | – | 15% |
GRE Renew Enertech IPO Anchor INVESTORS
| Anchor Bidding Date | 2026 |
| Shares Offered to Anchor Investors | – |
| Anchor Issue Size | – Cr. |
| Lock-in Period (50% Shares – 30 Days) | 2026 |
| Lock-in Period (50% Shares – 90 Days) | 2026 |
GRE Renew Enertech IPO DATES
| IPO Open Date | January 13, 2026 |
| IPO Close Date | January 16, 2026 |
| Basis of Allotment | January 19, 2026 |
| Refunds Initiation | January 20, 2026 |
| Credit to Demat Account | January 20, 2026 |
| IPO Listing Date | January 21, 2026 |
| IPO Bidding Cut-off Time | January 16, 2026 – 5 PM |
Promoters and Holding PATTERN
The promoters of the company are Mr. Kamleshkumar Dahyalal Patel, Mr. Kirtikumar Kantilal Suthar, and Mr. Mukeshkumar Prahladbhai Trivedi.
| Particular | Shares | Shareholding (%) |
|---|---|---|
| Promoter Holding (Pre Issue) | 1,05,20,000 | 95.06% |
| Promoter Holding (Post Issue) | 1,42,88,000 | 69.99% |
Objects of the Issue & Utilisation of PROCEEDS
| Purpose | Amount (₹ Crores) |
|---|---|
| Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant | ₹32.61 |
| General Corporate Purposes | – |
About GRE Renew Enertech IPO
Since its incorporation in 2006, GRE Renew Enertech Limited has been engaged in offering rooftop and ground-mounted solar solutions to industrial and commercial customers. Its business is divided into 2 segments, which are Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). Under the CAPEX segment, the firm provides Engineering, Procurement, construction, and operation of solar projects. Under the RESCO model, the company signs an agreement with rooftop owners to install and operate solar systems on their rooftops.
The business is also involved as a manufacturer of Light Emitting Diode (“LED”) lighting solutions. But, as of the past few years, the company’s primary focus has been mostly on solar energy solutions. The GRE Renew Enertech’s main goal is to become the preferred choice of a top-quality solar solutions provider for industrial and commercial customers.
GRE Renew Enertech IPO Company Financial REPORT
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | ₹53.11 | ₹74.91 | ₹0.89 | ₹51.65 |
| 2024 | ₹92.15 | ₹79.52 | ₹9.91 | ₹49.12 |
| 2025 | ₹84.37 | ₹51.59 | ₹7.03 | ₹45.46 |
RE Renew Enertech IPO Valuation – FY2025
| Return on Equity (ROE) | 26.89% |
| Return on Capital Employed (ROCE) | 29.60% |
| EBITDA Margin | 11.33% |
| PAT Margin | 8.39% |
| Debt to Equity Ratio | 0.05 |
| Earning Per Share (EPS) | ₹6.71 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 26.89% |
| Net Asset Value (NAV) | ₹29.68 |
Peer Group COMPARISON
| Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | Income (₹ Cr) |
|---|---|---|---|---|---|
| Oriana Power Limited | 81.92 | 15.99 | 48.62% | 256.26 | 1,018.67 |
| Zodiac Energy Limited | 13.38 | 29.27 | 27.71% | 64.40 | 7.78 |