What is the GRE Renew Enertech IPO?

GRE Renew Enertech IPO is an SME IPO of 37,68,000 equity shares of face value ₹10 aggregating up to ₹40 Crores. The issue is priced at ₹105 per share. The minimum order quantity is 1,200 shares. The IPO opens on Tue, Jan 13, 2026, and closes on Fri, Jan 16, 2026. Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

When GRE Renew Enertech IPO will open?

The GRE Renew Enertech IPO opens on Tue, Jan 13, 2026 and closes on Fri, Jan 16, 2026.

What is the lot size of GRE Renew Enertech IPO?

GRE Renew Enertech IPO lot size is 1,200 shares. The minimum amount required for application by a retail investor is ₹2,52,000 for 2 lots (2,400 shares).

When is GRE Renew Enertech IPO allotment?

The finalization of Basis of Allotment for GRE Renew Enertech IPO is scheduled for Mon, Jan 19, 2026, and the initiation of refunds and credit of shares to demat accounts is on Tue, Jan 20, 2026.

When is GRE Renew Enertech IPO listing date?

GRE Renew Enertech IPO shares are scheduled to be listed on BSE SME on Wed, Jan 21, 2026.

GRE Renew Enertech

IPO

SMEBSERenewable Energy

Opens

13 Jan 2026

Closes

16 Jan 2026

Listing

21 Jan 2026

Issue Size

– Cr

Price Band

₹100 – ₹105

Issue Details

Issue Size

– Cr

Fresh Issue

– Cr

OFS

– Cr

Price Band

₹100 – ₹105

Lot Size

1200

₹1,26,000

Face Value

₹10

Important Dates

Open Date

13 Jan 2026

Close Date

16 Jan 2026

Allotment

19 Jan 2026

Refund

20 Jan 2026

Listing

21 Jan 2026

About Company

GRE Renew Enertech Limited is engaged in the business of solar energy solutions and LED lighting products.

The company offers rooftop and ground-mounted solar installations, as well as indoor and outdoor LED lighting solutions.

Originally a manufacturer of LED lighting solutions, the company now primarily focuses on solar energy.

The company offers turnkey EPC services including design, engineering, procurement, construction and commissioning of solar projects.

It provides rooftop on-grid, hybrid rooftop systems and high-efficiency PV modules for various applications.

Objects of the Issue

#	Description	Amount (₹ 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

Financial Performance

Share Reservations

QIB

17,76,000

Anchor

10,62,000

NII

5,40,000

Retail

12,60,000

Employee

Total

37,68,000

RHP Insights

AI-powered analysis from Red Herring Prospectus

AI Research

Significant Revenue Growth

The company witnessed a substantial jump in its Standalone Revenue from Operations, growing from ₹3,397.45 lakhs in FY 2023 to ₹7,965.87 lakhs in FY 2025.

Impact: High

Volatility in Net Profitability

While revenue grew, Restated Standalone PAT saw a dip from ₹847.64 lakhs in FY 2024 to ₹665.48 lakhs in FY 2025, indicating pressure on margins or increased expenses.

Impact: Low

High Return on Net Worth (RoNW)

The company maintains a healthy RoNW of 32.15% (Standalone) as of March 31, 2025, although this has normalized from an exceptionally high 69.27% in FY 2024.

Impact: High

Strategic Shift to Green Energy

Originally 'GRE Electronics', the company rebranded in 2023 to focus on renewable energy and has established a subsidiary, GRE Green Energy Private Limited, dedicated to solar plants.

Impact: High

International Subsidiary Performance

The company operates a US-based subsidiary, D.K USA INC., which contributed significantly to consolidated revenue (₹405.86 lakhs in FY 2025), though lower than its FY 2024 contribution.

Impact: Moderate

SWOT Analysis

AI-generated strategic view

AI-generated

Strengths

•Experienced management team.
•Training and skill development programs to strengthen operation and maintenance team.
•Existing visible order book with favourable national policy support for solar energy.
•24/7 premium support system.
•Focus on ESG (Environment, Social and Governance) aspects.

Weaknesses

•Top and bottom line showing inconsistency over the reported periods.
•Business segments (solar EPC and LED) are becoming increasingly competitive.
•Issue considered fully priced based on recent financial data as per analyst review.

Opportunities

•Growing demand for rooftop and ground-mounted solar power in India.
•Supportive government policies and incentives for renewable energy.
•Opportunity to scale CAPEX and RESCO models for recurring revenues.
•Potential to expand into larger utility-scale solar projects.

Threats

•Increasing competition in solar EPC and LED lighting markets.
•Dependence on policy support and regulatory stability in the renewable sector.
•Fluctuations in solar module and component prices impacting margins.
•Execution risks in large-scale solar projects.