GRE Renew Enertech Limited
Bookbuilding IPO · BSE
- Price band
- ₹100 - ₹105
- Lot size
- 1,200 shares
- Issue amount
- ₹40 cr
- Total subscription
- 16.59×
- Opens
- 13 Jan 2026
- Closes
- 16 Jan 2026
- Allotment
- 19 Jan 2026
- Listing
- 21 Jan 2026
Offer at a glance
Issue overview
- Issue size
- 37,68,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,20,000
- Fresh issue
- ₹40 cr
- Offer for sale
- ₹0 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,26,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,05,20,000
- Shares after issue
- 1,42,88,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,52,000 |
| sHNI | 3 | 3,600 | ₹3,78,000 |
| bHNI | 8 | 9,600 | ₹10,08,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 16 Jan 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 6 |
| NIB | 0 | 1,909 |
| RETAIL | 525 | 7,400 |
| HNIs(10L +) | 100 | 1,029 |
| HNIs (2-10L) | 50 | 880 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 7.5 | 110.1 |
| Others | 0 | 107.58 |
| RETAIL | 13.23 | 185.98 |
| NIB | 5.67 | 141.89 |
| HNIs 2+ | 1.89 | 34.06 |
| HNIs 10+ | 3.78 | 107.83 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 3.8 | 6.71 | 9.91 |
| ROE | 12.04 | 26.89 | 61.58 |
| ROCE | 0 | 0 | 0 |
| RONW | 12.04 | 26.89 | 61.58 |
| PRE IPO(PE) | 0 | 15.72 | 0 |
| POST IPO(PE) | 18.75 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| GRE Renew Enertech Ltd | 15.72 | 0 | 10.00 | 20.72 | 41.93 | 6.69 |
| Oriana Power Ltd | 15.99 | 1309.85 | 10.00 | 256.26 | 48.62 | 81.92 |
| Zodiac Energy Ltd | 29.27 | 391.65 | 10.00 | 64 | 27.71 | 13.38 |
Company information
Company profile
GRE Renew Enertech Limited is engaged in providing solar energy solutions and LED lighting products, with its current primary focus on the solar power segment. The company offers rooftop and ground-mounted solar installations along with indoor and outdoor LED lighting solutions, and operates through both CAPEX (EPC) and RESCO (Opex) business models, wherein it either delivers turnkey solar projects owned by customers or funds and owns rooftop systems to earn annuity-based income. Its product and service portfolio includes end-to-end EPC solutions from design to commissioning, on-grid rooftop solar systems to reduce electricity costs, hybrid solar rooftop systems combining panels, batteries, and grid connectivity for uninterrupted power supply, and high-efficiency PV modules designed for reliable performance across diverse operating conditions.
Strengths
- Experienced Management Team: Strong leadership with deep sector knowledge supports execution and growth.
- Skilled O&M Workforce: Ongoing training enhances operations and maintenance capabilities.
- Strong Order Book & Policy Support: Visible projects and favorable renewable energy policies improve growth visibility.
Risk factors
- EPC Execution Risk: Cost overruns, delays, or performance issues under fixed-price contracts may affect margins and cash flows.
- High Industry Competition: Intense competition in solar EPC projects can limit growth and pricing power.
- Geographical Concentration: Heavy reliance on Gujarat-based projects increases exposure to regional risks.
Promoters
Mr. Kamleshkumar Dahyalal Patel
Mr. Kirtikumar Kantilal Suthar
Mr. Mukeshkumar Prahladbhai Trived
Registrar & documents
Lead manager
Share India Capital Services Private Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot no. 423, G.I.D.C.-II Dediyasan Mehsana, Gujarat, 384002
+91 9974039300
[email protected]Company website ↗Understanding GRERENEW IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.