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Greenleaf Envirotech IPO
Price Band
₹
Issue Size
₹21.9 Cr
Lot Size
1,000 shares
Min Investment
₹272,000
2 LOTS MIN
GMP
—
Issue Price
₹136.0
Greenleaf Envirotech IPO AI Summary
- Greenleaf Envirotech IPO is listed on NSE SME in the Waste Management sector.
- Subscription window: 30 Sep–06 Oct 2025, listing on 09 Oct 2025.
Greenleaf Envirotech Limited is an SME IPO focused on wastewater treatment solutions with a strong order book and experienced management. The IPO aims to raise funds for capital expenditures and working capital needs. Investors should consider the associated risks and their investment strategy before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Greenleaf Envirotech IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 06 Oct 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Greenleaf Envirotech IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Greenleaf Envirotech Limited provides comprehensive Engineering, Procurement, and Construction (EPC) and turnkey solutions for Wastewater Treatment (WWT) projects, with a strong focus on Sewage Treatment Plants (STPs) and Effluent Treatment Plants (ETPs). It offers comprehensive services from designing, engineering, procurement, supply, installation and testing to operation & maintenance services. Key business segments: Wastewater treatment solutions Environment laboratory and consulting services Fire safety services The company has a state-of-the art laboratory and consulting facility in Surat, Gujarat. In the last 3 fiscal years, the company has successfully executed 31 Turnkey/EPCC basis worth Rs 6,616.18 lakhs. As of May 31, 2025, the company is executing 17 WWT projects (13 Turnkey/ EPCC basis and 4 O&M basis) and have 2 upcoming projects across various states of Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, Karnataka, Assam and Himachal Pradesh. Competitive Strengths In-House project execution, designing and engineering capabilities In-house environmental laboratory Experienced promoter and management team Robust Order book of Rs 5,411.03 lakhs as of May 31, 2025 Quality certification and assurance
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 25.38 | 15.74 | 12.74 |
| Total Income | 39.08 | 32.64 | 26.58 |
| Profit After Tax | 4.70 | 2.28 | 0.97 |
| EBITDA | 6.62 | 3.66 | 2.09 |
| NET Worth | 12.41 | 7.71 | 2.62 |
| Reserves and Surplus | 7.79 | 3.09 | 1.12 |
| Total Borrowing | 2.49 | 5.13 | 6.12 |
Key Ratios
EPS
₹10.17
NAV
₹26.87
ROE
46.68%
ROCE
45.01%
RoNW
37.84%
P/B Value
5.06
P/E Ratio
13.38
Market Cap
₹80.64 Cr
PAT Margin
12.09%
Debt/Equity
0.20
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Effwa Infra & Research Limited | 40.99 | 21.2% | 24.34 | 9.28 | 9.28 |
| Apex Ecotech Limited | 35.06 | 18.52% | 20.81 | 7.91 | 7.91 |
| Felix Industries Limited | 65.45 | 10.18% | 64.74 | 3.1 | 3.1 |
| Greenleaf Envirotech Limited This IPO | 26.87 | 37.84% | 13.37 | 10.17 | 10.17 |
Promoters
Kamlesh Gordhanbhai Goti and Gopiben Kalpesh Goti
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 Funding of capital expenditure of Company towards purchase of civil machines and equipments 1.86 2 Funding of capital expenditure of Company towards purchase of laboratory equipments 0.35 3 Repayment or prepayment, in full or in part, of borrowings availed by Company from banks, financial institutions and non-banking financial companies 1.35 4 Funding working capital requirements of the Company 9.00 5 General Corporate Purposes 2.66 6 Issue Expenses 3.18 Total 18.41
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Revenue was ₹26.58 Cr in the year ending 31 Mar 2023, rising to ₹32.64 Cr by 31 Mar 2024, and further increasing to ₹39.08 Cr by 31 Mar 2025.
Profit Trend
Profit After Tax was ₹0.97 Cr in the year ending 31 Mar 2023, increasing to ₹2.28 Cr by 31 Mar 2024, and further rising to ₹4.70 Cr by 31 Mar 2025.
Valuation
At the issue price of ₹136.0, Greenleaf Envirotech's implied P/E is approximately 13.37, compared to peers trading at P/E ratios ranging from 20.81 to 64.74.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are officially listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the IPO based on demand and supply dynamics in this unofficial market. A higher GMP suggests strong demand, while a lower or negative GMP may indicate weak demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors averse to high-risk investments or those seeking immediate returns may want to avoid IPOs like this, which can be subject to significant price fluctuations post-listing.
IPO Timeline, Explained
The IPO opens for subscription on September 30, 2025, and closes on October 6, 2025. Allotment of shares will be done on October 7, 2025, with the listing date set for October 9, 2025.
Listing Gains — The Risk
Listing gains can be unpredictable, as they depend on market conditions, investor sentiment, and the company's performance. While some IPOs may see a surge in prices on their listing day, others may not, leading to potential losses. Investors should be prepared for this risk.
This evaluation is generated from Greenleaf Envirotech's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
When does Greenleaf Envirotech IPO open and close?
Greenleaf Envirotech IPO opens on 30 September 2025 and closes on 06 October 2025.
When does Greenleaf Envirotech IPO list on the stock exchange?
Greenleaf Envirotech IPO listed on 09 October 2025 at ₹136.0.
What is the lot size for Greenleaf Envirotech IPO?
The lot size for Greenleaf Envirotech IPO is 1000 shares, requiring a minimum investment of ₹272,000 (2 lots).
What is the lot size for this IPO?
The lot size for Greenleaf Envirotech's IPO is 1000 shares.
What is the minimum investment required?
The minimum investment required is ₹2,72,000.
What is the issue price of the IPO?
The issue price of the IPO is ₹136.0 per share.
When does the IPO open and close?
The IPO opens on September 30, 2025, and closes on October 6, 2025.
When will the shares be listed?
The shares are expected to be listed on October 9, 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
30 Sep 2025
Close
06 Oct 2025
Allotment
07 Oct 2025
Listing
09 Oct 2025
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