GRE Renew Enertech Ltd IPO : GRE Renew Enertech Limited, a prominent player in India’s solar energy and LED lighting sector, has launched its Initial Public Offering (IPO). This BSE SME IPO is attracting attention due to the company’s dual business model and the massive tailwinds in the renewable energy industry.
GRE Renew Enertech IPO Details & Timeline
The IPO is a 100% Fresh Issue, meaning the capital raised will go directly into the company’s growth and projects rather than exiting existing shareholders.
| Event | Date |
| IPO Open Date | Tuesday, January 13, 2026 |
| IPO Close Date | Friday, January 16, 2026 |
| Basis of Allotment | Monday, January 19, 2026 |
| Initiation of Refunds | Tuesday, January 20, 2026 |
| Credit of Shares to Demat | Tuesday, January 20, 2026 |
| Listing Date | Wednesday, January 21, 2026 |
Price Band, Lot Size, and Investment
The issue is priced competitively to attract long-term investors in the green energy space.
- Price Band: ₹100 to ₹105 per equity share
- Face Value: ₹10 per share
- Lot Size: 1,200 Shares
- Minimum Investment (Retail): ₹2,52,000 (for 2 lots/2,400 shares)
- Issue Size: ~₹39.56 Crores
- Listing At: BSE SME Platform
Company Financials & Performance (KPIs)
GRE Renew Enertech has shown a shift in focus from LED lighting to solar EPC (Engineering, Procurement, and Construction).
| Particulars | FY24 (₹ Cr) | FY25 (₹ Cr) | H1 FY26 (₹ Cr) |
| Revenue | 92.15 | 84.37 | 43.98 |
| Profit After Tax (PAT) | 9.91 | 7.03 | 4.00 |
| Net Worth | 21.03 | 31.23 | 35.22 |
| Debt-to-Equity | 0.05 | 0.05 | 0.04 |
Analysis Note: While revenue saw a slight dip in FY25, the company maintains an exceptionally low debt-to-equity ratio, making it a “near debt-free” entity.
GRE Renew Enertech IPO Review: Apply or Avoid?
The Bull Case (Pros)
- Strategic Asset Growth: Over 80% of the funds (₹32.61 Cr) will be used to set up a 20 MW Solar Power Plant. This shifts the company toward a RESCO model, providing steady annuity-style income.
- Low Leverage: A Debt-to-Equity ratio of 0.04 provides a massive safety cushion.
- Sector Demand: India’s goal of 500 GW renewable capacity by 2030 ensures a healthy pipeline for solar EPC players.
The Bear Case (Cons)
- High Entry Barrier: The minimum retail investment of ₹2.52 lakh is higher than typical SME IPOs, which may limit liquidity.
- Geographic Risk: Over 90% of revenue currently originates from Gujarat, making it sensitive to regional policy changes.
Allotment Status & Registrar
Once the bidding closes on January 16, investors can check their allotment status online.
- Registrar: Maashitla Securities Private Limited
- How to Check: Visit the Maashitla Securities Website and enter your PAN or Application Number.
Grey Market Premium (GMP) Today
As of mid-January 2026, the GRE Renew Enertech IPO GMP is hovering around ₹7 – ₹9, indicating a modest listing gain of approximately 6.5% to 8.5%.
Final Verdict
GRE Renew Enertech is a high-risk, high-reward play. It is best suited for investors who believe in the long-term scalability of the RESCO (annuity) model and are comfortable with the inherent volatility of the SME segment.
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