The GRE Renew Enertech IPO plans to raise ₹39.56 Crore through a book-built issue. The IPO consists of only fresh equity of up to 37,68,000 Equity Shares, with no offer-for-sale involved.
GRE Renew Enertech opens the IPO on 13 January 2026, which remains available for subscription till 16 January 2026. The allotment will be done on 19 January 2026, and the shares will list on BSE SME, which is scheduled for 21 January 2026.
The GRE Renew Enertech IPO shares are priced in the range of ₹100/share to ₹105/share. The IPO’s 1 lot will carry 1,200 shares, where the retail investors must apply for a minimum of 2 lots or 2,400 shares, which is ₹2,52,000 at the top price band. For the HNIs, the entry point starts at three lots, 3,600 shares, requiring ₹3,78,000 of investment.
GRE Renew Enertech IPO Details
| IPO Opens | 13 January 2026 |
| IPO Closes | 16 January 2026 |
| Face value | ₹10 |
| Price Band | ₹100–₹105/share |
| Issue price | – |
| IPO Lot Size | 1,200 shares |
| Offer for sale | – |
| Fresh issue | 37,68,000 Equity Shares (₹39.56 Crore) |
| Issue Type | Book-Built |
| Listing | BSE SME |
| Total Issue Size (₹ Crore) | ₹39.56 Crore |
| Minimum Retail Investment | ₹2,52,000 |
GRE Renew Enertech IPO Timeline
| Bid Opening Date | 13 January 2026 |
| Bid Closing Date | 16 January 2026 |
| Allotment | 19 January 2026 |
| Refunds Initiated | 20 January 2026 |
| Credit of Shares to Demat Account | 20 January 2026 |
| Listing Date | 21 January 2026 |
| UPI mandate Cut-off time | 16 January 2026 (5 PM) |
GRE Renew Enertech Key Performance Indicator
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 0.12 | 0.27 | 0.43 |
| ROCE (%) | 0.15 | 0.3 | 0.09 |
| Debt-Equity Ratio (in times) | 0.04 | 0.05 | 0.12 |
| RoNW (%) | 26.89 | 61.58 | 8.54 |
| PAT Margin (%) | 8.39 | 10.96 | 1.71 |
| EBITDA Margin (%) | 11.33 | 12.71 | 2.52 |
| Price-Book Value | – | – | – |
GRE Renew Enertech IPO Financial Information
| 2025 (in ₹ lakh) | 2024 (in ₹ lakh) | 2023 (in ₹ lakh) | |
| Revenue | 8371.73 | 9034.01 | 5221.90 |
| Assets | 4,546.14 | 4,912.43 | 5,164.71 |
| Profit After Tax | 702.64 | 990.52 | 89.27 |
Subscription Status: GRE Renew Enertech IPO
Check out the subscription status of the GRE Renew Enertech IPO:
| Day | QIB | NII | Individual Investor | Total |
| Day 1 | – | – | – | – |
| Day 2 | – | – | – | – |
| Day 3 | – | – | – | – |
GRE Renew Enertech IPO: Grey Market Premium (GMP Today)
The GRE Renew Enertech IPO GMP is at ₹9, pointing to healthy demand and with a listing price of ₹114, the stock is already above its upper price band, reflecting strong investor interest.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 7 January 2026 | ₹9 | ₹114 | ₹10,800 (8.57%) | – |
| 6 January 2026 | ₹9 | ₹114 | ₹10,800 (8.57%) | – |
| 5 January 2026 | ₹9 | ₹114 | ₹10,800 (8.57%) | – |
Note: The GMP is an informal signal that shifts with investor appetite, subscription trends, and market sentiment.
GRE Renew Enertech IPO Reservation
Check the share allocation structure of the GRE Renew Enertech IPO:
| Category | % of Shares Offered | Shares offered |
| Market Makers | 5.10% | 1,92,000 |
| QIBs | 18.95% | 7,14,000 |
| Anchor Investors | 28.18% | 10,62,000 |
| Retail Investors | 33.44% | 12,60,000 |
| NII shares offered (HNI) | 14.33% | 5,40,000 |
| Total Shares Offered | 100% | 37,68,000 |
GRE Renew Enertech IPO: Lot Size
The retail investors are required to apply for 2 lots comprising 2,400 shares, and others can bid in multiples of 1,200 shares.
| Application | Lot Size | Shares | Amount(in ₹) |
| Retail Investors (Minimum) | 2 | 2,400 | ₹2,52,000 |
| Retail Investors (Maximum) | 2 | 2,400 | ₹2,52,000 |
| S-HNI (Minimum) | 3 | 3,600 | ₹3,78,000 |
| S-HNI (Maximum) | 7 | 8,400 | ₹8,82,000 |
| B-HNI (Minimum) | 8 | 9,600 | ₹10,08,000 |
GRE Renew Enertech IPO: Anchor Investors Details
| Bidding Date | 12 January 2026 |
| Shares to be Offered | 10,62,000 shares |
| Issue Size for Anchor Investor (in Crore) | – |
| Lock-in expiry date for 50% of the shares after 30 days | – |
| Lock-in expiry date for the remaining shares after 90 days | – |
GRE Renew Enertech IPO Prospectus
| GRE Renew Enertech IPO DRHP(Doc) | |
| GRE Renew Enertech IPO RHP(Doc) | |
| GRE Renew Enertech IPO Anchor Investors | – |
| GRE Renew Enertech IPO Final Prospectus | – |
About GRE Renew Enertech Limited
GRE Renew Enertech Limited was founded on 1 April 1999, led by Managing Director Kamleshkumar Dahyalal Patel. The company focuses on delivering solar power solutions to industrial and commercial clients, with an emphasis on on-site installations that help the users to shift to cleaner energy.
Their operations are structured around two business lines: CAPEX and RESCO. The CAPEX approach undertakes designing of systems, sourcing materials, executing construction, and managing the operational function of solar projects. In the RESCO setup, long-term agreements are signed with rooftop owners, who use the power generated and pay a fixed tariff, while ownership of the solar assets remains with the company.
GRE Renew Enertech also manufactures LED lighting products in India.
| Book running lead managers | Share India Capital Services Pvt. Ltd. |
| IPO Registrar | Maashitla Securities Pvt. Ltd. |
Objectives of the GRE Renew Enertech
| Particulars | Amount (in ₹ lakh) |
| Establishing Solar Power Plant | 3158.31 |
| Corporate Requirements | – |
Strength Of GRE Renew Enertech
- Experienced Leadership: The company is led by seasoned promoters with deep experience across solar and LED manufacturing, driving growth and execution strength.
- Skilled Operations & Maintenance Team: The company’s in-house O&M workforce handles design, installation, monitoring, and maintenance, supported by regular technical and safety training.
- Strong Order Book & Policy Tailwinds: The company has executed over 61 MW of EPC projects nationwide, backed by supportive renewable energy policies and long-term government initiatives.
- Round-the-Clock Monitoring Support: The company’s dedicated remote monitoring and analytics ensure higher plant efficiency, lower downtime, and controlled operating costs through continuous oversight.
Risk of GRE Renew Enertech
- Fixed-Price EPC Execution Risk: The company’s cost overruns, delays, or performance shortfalls in fixed-price EPC projects may strain cash flows and impact financial results.
- Competitive Bidding Pressure: The company’s failure to secure new solar project contracts in a highly competitive market could limit business expansion and earnings growth.
- Geographic Concentration Risk: The company’s major share of projects is located in Gujarat, which exposes the operations to state-specific disruptions or regulatory challenges.
- Dependence on Solar Conditions: The company’s lower solar radiation or adverse weather patterns can reduce power generation and negatively affect operating performance.
GRE Renew Enertech IPO Review
The GRE Renew Enertech IPO reflects a stable solar EPC player with a focused SME presence. The company shows improving margins, low leverage, and a defined CAPEX–RESCO model, though revenue softness in FY25 needs watching. The geographic concentration and EPC execution risks also remain as concerns. Overall, the IPO suits investors who are comfortable with SME volatility and long-term renewable exposure rather than short-term certainty.
Other Recent IPO List
Here’s a list of the recent IPOs in 2026, India:
| Yajur Fibres IPO | Modern Diagnostic & Research IPO |
| Gabion Technologies IPO | Nanta Tech IPO |
| Dhara Rail Projects IPO | Apollo Techno Industries IPO |
| E to E Transportation IPO | Dachepalli Publishers IPO |
GRE Renew Enertech IPO FAQs
The GRE Renew Enertech IPO, a book-built SME issue worth ₹39.56 Crore, comprises only fresh equity of 37,68,000 shares at a face value of ₹10. There is no offer-for-sale component, and the issue will be listed on BSE SME.
The GRE Renew Enertech IPO application can be done either through the bank’s ASBA of the investors or using UPI through the brokerage sites, like Zerodha, Groww, etc.
The GRE Renew Enertech IPO presents moderate fundamentals with low debt and improving operational scale. However, the revenue fluctuation, Gujarat-centric operations, and EPC execution risks make it suitable mainly for investors with higher risk tolerance and SME market understanding.
The GRE Renew Enertech IPO expected is based on the current GMP, ₹9, and the listing gain is estimated at around 8–9% over the upper price band. The actual returns will depend on market conditions, subscription demand, and SME sentiment at the time of listing.
The GRE Renew Enertech IPO opens for subscription on 13 January 2026 and closes on 16 January 2026. The bids must be placed before the UPI cut-off time of 5:00 PM on the closing date.
The GRE Renew Enertech IPO lot size is 1,200 shares. Retail investors must apply for a minimum of two lots, or 2,400 shares, while HNI investors must apply for at least three lots, amounting to 3,600 shares.
The GRE Renew Enertech IPO allotment is expected to be finalised on 19 January 2026. Refunds and demat credit are likely to be processed on 20 January 2026.
The GRE Renew Enertech IPO is scheduled to list on the BSE SME platform on 21 January 2026, subject to final regulatory approvals and completion of the allotment process.
