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GRE Renew Enertech Limited is a solar energy solutions provider for industrial and commercial clients, specializing in both Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO) models for rooftop and ground-mounted projects. While the company also manufactures LED lighting solutions, its primary focus is on the solar energy sector, which constitutes over 90% of its revenue. It operates mainly in Gujarat and has a wholly-owned US subsidiary, DK USA Inc., which is engaged in retail operations.
Jan 13, 2026
Jan 16, 2026
Jan 21, 2026
SME
Closed
39.56 Cr
39.56 Cr
0 Cr
₹100 - ₹105
1200
The main objectives of the issue are to utilize the net proceeds for the following purposes:
Financing the setup of a 7.20 MW (AC) / 9.99 MW (DC) ground-mounted solar power plant in Sabarkantha, Gujarat, under the RESCO model. This includes the complete development, design, engineering, procurement, construction, and commissioning of the project, which will supply electricity to third-party consumers.
Funding general corporate purposes, which may include meeting working capital requirements, strategic initiatives, and other operational needs, not exceeding 15% of the gross proceeds raised through the issue.
15.72
6.68
12.04%
15.3%
12.04%
—
9.13%
13.06%
3.54
Experienced management team with extensive work experience in the solar and LED lighting sectors.
Strong operational capabilities supported by a skilled and continuously trained in-house O&M team.
Visible order book with a significant portfolio of EPC projects and favorable national policy support for renewable energy.
Dedicated 24/7 remote monitoring and analytic platform to maximize solar yield and reduce downtime for clients.
The proposed fund utilization for the main issue objective has not been independently appraised by any bank or financial institution.
Potential inability to effectively source new business opportunities could impact financial objectives and growth.
High dependency on the solar energy sector, with the LED lighting business contributing less than 5% of revenue.
Geographical concentration of business operations, primarily within the state of Gujarat.
Expand customer base by entering new geographies within India and overseas to cater to increasing demand.
Leverage India's ambitious renewable energy targets, including the goal to achieve 500 GW of renewable capacity by 2030.
Utilize increasing investments and government support in the renewable sector, including PLI schemes for solar module manufacturing.
Capitalize on the growing demand for green energy solutions from commercial and industrial clients to reduce their carbon footprint.
Adverse changes in government regulations, policies, or tax levies could disrupt operations and impact profitability.
Political instability or changes in economic liberalization policies in India could harm business conditions.
Increased competition from existing players and new entrants in the rapidly growing solar energy market.
Global economic slowdowns, geopolitical tensions, and supply chain disruptions could negatively affect business and costs.
GRE Renew Enertech Limited is a solar energy solutions provider for industrial and commercial clients, specializing in both Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO) models for rooftop and ground-mounted projects. While the company also manufactures LED lighting solutions, its primary focus is on the solar energy sector, which constitutes over 90% of its revenue. It operates mainly in Gujarat and has a wholly-owned US subsidiary, DK USA Inc., which is engaged in retail operations.
The GRE Renew Enertech Ltd. IPO is scheduled to open for subscription on Jan 13, 2026 and close on Jan 16, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the GRE Renew Enertech Ltd. IPO is ₹100 to ₹105. Investors can place bids within this range once the issue opens.
The minimum lot size for the GRE Renew Enertech Ltd. IPO is 1200 shares. The minimum investment amount ₹1,26,000.
The total issue size of the GRE Renew Enertech Ltd. IPO is approximately ₹39.56. Issue size represents the total value of shares offered to the public.
As per the latest available information, the GRE Renew Enertech Ltd. IPO has been subscribed 2.67 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the GRE Renew Enertech Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of GRE Renew Enertech Ltd. are expected to list on stock exchanges on Jan 21, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the GRE Renew Enertech Ltd. IPO are proposed to be used for The main objectives of the issue are to utilize the net proceeds for the following purposes:, Financing the setup of a 7.20 MW (AC) / 9.99 MW (DC) ground-mounted solar power plant in Sabarkantha, Gujarat, under the RESCO model. This includes the complete development, design, engineering, procurement, construction, and commissioning of the project, which will supply electricity to third-party consumers., Funding general corporate purposes, which may include meeting working capital requirements, strategic initiatives, and other operational needs, not exceeding 15% of the gross proceeds raised through the issue.
Before applying for the GRE Renew Enertech Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
