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GR

GRE Renew Enertech

Listed SME BSE SME · Civil Construction

Price Band

₹100.0–105.0

Issue Size

₹39.56 Cr

Lot Size

1,200 shares

Min Investment

₹252,000

GMP

+₹1.0 (0.95%)

Issue Price

₹105.0

calendar_month Important Dates

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IPO Open Date
Tue, 13 Jan 2026
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IPO Close Date
Fri, 16 Jan 2026
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Allotment Date
Mon, 19 Jan 2026
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Refund Initiation
Tue, 20 Jan 2026
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Credit of Shares
Tue, 20 Jan 2026
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Listing Date
Wed, 21 Jan 2026
Listing Price
₹106.0 +0.95%

bar_chart Subscription Status

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Subscription data unavailable

trending_up Grey Market Premium (GMP)

GMP

+₹1.0

GMP %

+0.95%

Est. Listing

₹106.0

schedule Updated: 14 Jul 2026 15:53

business About the Company

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)

payments Company Financials (₹ Cr)

As of 2025-09-30

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

Key Ratios

EPS

₹6.68

NAV

₹29.68

ROE

26.89%

ROCE

29.60%

RoNW

26.89%

P/B Value

3.54

P/E Ratio

15.72

Market Cap

₹150.02 Cr

PAT Margin

8.39%

Debt/Equity

0.05

Promoters

Kamleshkumar Dahyalal Patel, Kirtikumar Kantilal Suthar and Mukeshkumar Prahladbhai Trivedi

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 3 Issue Expenses 4.34 Total 39.56

info Issue Details

Issue Type SME Book Built
Issue Size ₹39.56 Cr
Price Band ₹100.0 – ₹105.0
Issue Price ₹105.0
Lot Size 1,200 shares
Min Investment ₹252,000
Exchange BSE SME
Sector Civil Construction
Open Date 13 Jan 2026
Close Date 16 Jan 2026
Allotment 19 Jan 2026
Listing Date 21 Jan 2026

pie_chart Investor Allocation

QIB (Institutional) 50%
NII / HNI 15%
Retail (RII) 35%

Registrar

domain Maashitla Securities Pvt.Ltd.

Lead Managers / Book Running

account_balance Share India Capital Services Pvt.Ltd.

timeline IPO Timeline

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Open

13 Jan 2026

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Close

16 Jan 2026

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Allotment

19 Jan 2026

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Listing

21 Jan 2026

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