India’s water and wastewater management sector is experiencing fast-paced growth and is anticipated to hit USD 2.08 billion by 2025, making India second globally. This growth opens major opportunities for specialised players, and demand is projected to be double the supply by 2030.
Tapping into the sector’s growth, Greenleaf Envirotech IPO plans to ride this surge, raising ₹21.90 Cr at ₹136 per share. The company posted revenues of ₹3,885.21 lakh in 2025 and ₹3,250.32 lakh in 2024, which shows strong growth prospects. The financials suggest applying with a long-term investment plan for the IPO.
This blog provides investors with a detailed overview of the Greenleaf Envirotech IPO, comprising its timeline, face value, price, allotment details, GMP, and other general information.
Greenleaf Envirotech IPO Details
Check out the essential details of Greenleaf Envirotech IPO.
| IPO Open Date | 30 September 2025 |
| Close Date | 6 October 2025 |
| Face Value | ₹10 |
| Price Band | ₹136 |
| Issue size | 16,10,000 shares |
| Market Lot | 1000 shares |
| Sale Type | Fresh Capital cum Offer-for-sale |
| Offer for Sale | 3,00,000 shares |
| Fresh Issue | 13,10,000 Equity Shares |
| Issue Type | Fixed Price IPO |
| Listing At | NSE EMERGE |
| Total Issue Size (₹ Cr) | ₹21.90 Cr |
| Reserved for Market Maker | 84,000 shares |
| Net Offered to Public | 15,26,000 shares |
| Minimum Investment(₹) | ₹2,72,000 (2 lots) |
| Retail Discount | Undisclosed |
Greenleaf Envirotech IPO Timeline
Here are some important dates of the Greenleaf Envirotech IPO:
| IPO Open Date | 30 September 2025 |
| IPO Closing Date | 6 October 2025 |
| Tentative Allotment | 7 October 2025 |
| Initiation of Refunds | 8 October 2025 |
| Credit of Shares | 8 October 2025 |
| Tentative Listing Date | 9 October 2025 |
| Cut-off Time for UPI Mandate Confirmation | 6 October 2025 |
Greenleaf Envirotech IPO Grey Market Premium (GMP Today)
| Date | GMP (₹) | Estimated Listing Price (₹) |
| 29 September 2025 | 0 | 136 |
Greenleaf Envirotech IPO Reservation
Here’s an overview of how the Greenleaf Envirotech IPO shares are reserved for different categories of investors:
| Category | %Shares Offered |
| Market Maker | 84,000 (5.22%) |
| QIBs | – |
| NII | 7,48,000 (46.46%) |
| Retail Shares Offered | 7,78,000 (48.32%) |
Greenleaf Envirotech Key Performance Indicator
Key performance indicators highlighting the profitability and performance of Greenleaf Envirotech over the last three years.
| KPI | 2025 | 2024 | 2023 |
| ROE (%) | 46.68 | 44.09 | 43.37 |
| ROCE (%) | 45.01 | 28.74 | 24.43 |
| Debt to Equity Ratio (in times) | 0.20 | 0.66 | 2.34 |
| RoNW (%) | 37.84 | 29.52 | 36.98 |
| PAT Margin (%) | 12.09 | 7.01 | 3.66 |
| EBITDA Margin (%) | 17.05 | 11.26 | 7.92 |
Greenleaf Envirotech IPO Financials
The financials of Greenleaf Envirotech show consistent growth in financial performance over the past three years.
| 2025 (₹) | 2024 (₹) | 2023 (₹) | |
| Revenue | 3,885.21 | 3,250.32 | 2,641.04 |
| Total Asset | 2,537.67 | 1,574.04 | 1,274.19 |
| Profit | 469.66 | 227.72 | 96.73 |
Greenleaf Envirotech IPO Lot Size
Learn about Greenleaf Envirotech IPO lot size; figure out minimum and maximum investments.
| Application | Lot Size | Shares | Amount(in ₹) |
| Individual investors (Retail) (Min) | 2 | 2,000 | 2,72,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | 2,72,000 |
| S-HNI (Min) | 3 | 3,000 | 4,08,000 |
Greenleaf Envirotech IPO Promoter Holding
The promoters’ holdings of the company before and after the IPO.
| Promoter Holding Pre Issue | 78.85% |
| Promoter Holding Post Issue | 59.37% |
Mr. Kalpesh Gordhanbhai Goti and Ms. Gopiben Kalpesh Goti are the promoters of Greenleaf Envirotech.
Greenleaf Envirotech IPO Anchor Investors Details
The reservation for anchor investors in the Greenleaf Envirotech IPO.
| Bid Date | Undisclosed |
| Shares Offered | Undisclosed |
| Anchor Portion Size (In Cr.) | Undisclosed |
| Anchor lock-in period end date for 50% shares (30 Days) | Undisclosed |
| Anchor lock-in period end date for remaining shares (90 Days) | Undisclosed |
Greenleaf Envirotech IPO Prospectus
The official SEBI filings for the Greenleaf Envirotech IPO are provided below.
About Greenleaf Envirotech
Founded in: 10 March 2010
Managing Director: Mr. Kalpesh Gordhanbhai Goti
Greenleaf Envirotech offers engineering, procurement, construction (EPC), and turnkey solutions for Wastewater Treatment Projects (WWT), with a specific focus on Sewage Treatment Plants (STPs) and Effluent Treatment Plants (ETPs) serving both private and public sectors.
The key business segments of the company comprise:
- Wastewater treatment solutions
- Envirotech laboratory and consulting services
- Fire safety services
The company is certified with ISO certificates, including ISO 9001, ISO 14001, and ISO 45001, which reflect its dedication to maintaining quality, environmental management, and occupational health and safety management.
Objectives of the Greenleaf Envirotech
The net proceeds from this offer will be used to fund the following:
| Fund Utilisation | Amount (in ₹ lakh) |
| Purchase of civil machines and equipment | 186.13 |
| Purchase of Laboratory equipment | 35.25 |
| Repayment or prepayment of debt | 135.00 |
| Working capital requirements | 900.00 |
| General corporate purposes | 266.29 |
Strength Of Greenleaf Envirotech
- Internal Resources: The company’s internal team and the promoters convert ideas into concepts, actionable strategies, and step-by-step plans. With over 12 years of expertise, the team maintains Wastewater Treatment plants, ensuring the efficiency and effectiveness of operations.
- Envirotechal Laboratory Services: The in-house environmental laboratory of the company is recognised under the provisions of the Envirotech (Protection) Act, 1986, and is accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) for ISO/IEC standards as a calibration laboratory.
- Strong Order Book: On 31 May 2025, the company’s order book for ongoing and upcoming projects stood at ₹5,411.03 lakhs, reflecting market demand.
- Quality Certifications: The ISO certifications highlight the company’s ability to deliver quality, efficiency in operation, efficient utilisation of resources, and cost optimisation.
Risk of Greenleaf Envirotech
- Dependence on Wastewater Treatment Solutions: More than 90% of revenue of the company is generated from Wastewater Treatment Solutions. This could pose sector-specific risks, such as changes in regulatory policies, shifts in demand, and technology advancements.
- Customer Concentration: Since a major portion of the company’s revenue is contributed to by only a limited group of customers, losing even one of these key customers or facing delays or defaults in payment might lead to a decline in financial performance.
- Constrained Suppliers and Contractors Network: The company’s reliance on limited suppliers and third-party contractors for materials and labourers exposes it to supply chain disruptions, volatility in price, and compromised service. These might lead to delays in projects, affecting revenue.
- Outstanding Legal Matters: The company is currently undergoing tax and legal proceedings. Therefore, unfavourable decisions or any new allegation may intensify liabilities, damage the company’s reputation, and impact financial performance.
Other Recent IPO List
Check out the latest IPOs in India September 2025:
| B.A.G. Convergence IPO | Om Metallogic IPO |
|---|---|
| VijayPD Ceuticals IPO | Sodhani Capital IPO |
| Glottis IPO | Fabtech Technologies |
Conclusion
Greenleaf Envirotech’s IPO opens a door for investors to be part of the company’s growth journey. Strong revenue growth and order books, along with ISO certifications and a wide range of services, offer the company a platform to expand operations and benefit from India’s surging demand for water and wastewater solutions.
However, its heavy reliance on wastewater treatment solutions, customer concentration, legal proceedings, and supply chain constraints poses potential risks. Investors seeking steady and long-term growth shall carefully evaluate these factors and make informed and balanced approaches.
Greenleaf Envirotech IPO FAQs
Greenleaf Envirotech IPO is a ₹21.90 Cr Fixed Price IPO, with a combination of ₹17.81 Cr fresh issue and ₹4.08 Cr offer-for-sale, to be listed on NSE EMERGE.
Log in to Zerodha Kite.
Search for “Greenleaf Envirotech IPO” and click “Apply”.
Enter your UPI ID.
Enter the quantity and price, then click the undertaking box.
Swipe the “Submit” button.
Accept the mandate on the UPI app.
Greenleaf Envirotech IPO is set to open on 30 September 2025 and close on 1 October 2025.
The minimum investment for Greenleaf Envirotech IPO is two lots, that is 2,000 shares, of ₹2,72,000.
Investors can apply for the Greenleaf Envirotech IPO using ASBA, with UPI as a payment option.
The Greenleaf Envirotech IPO allotment date is scheduled on 3 October 2025.
The Greenleaf Envirotech IPO shares listing date is scheduled on 7 October 2025, on NSE EMERGE.
