GRE Renew Enertech Limited, a company specialising in on-site solar energy solutions for industrial and commercial customers, has fixed the price band for its proposed Initial Public Offering (IPO) at ₹100–105 per equity share.
The IPO will open for subscription on January 13, 2026, and close on January 16, 2026, while the anchor book will open on January 12, 2026.
The public issue comprises a fresh issue of 37.68 lakh equity shares with a face value of ₹10 each and is being offered through the book-building route. At the upper end of the price band, the total issue size aggregates up to ₹39.56 crore.
The equity shares are proposed to be listed on the BSE SME platform. Investors can bid for a minimum of 2,400 equity shares, and thereafter in multiples of 1,200 shares.
According to the offer document, a significant portion of the IPO proceeds is proposed to be utilised for setting up a 7.20 MW (AC) ground-mounted solar power plant under the Renewable Energy Service Company (RESCO) model. The remaining funds will be used for general corporate purposes, subject to applicable regulations.
GRE Renew Enertech provides green energy solutions by executing on-site solar projects under two business models—Capital Expenditure (CAPEX) and RESCO—helping industrial and commercial customers reduce energy costs and transition to clean power.
For the financial year ended 31 March 2025, the company reported total revenues of ₹84.37 crore and a profit after tax (PAT) of ₹7.03 crore, reflecting steady operational performance.
Share India Capital Services Private Limited is acting as the sole Book Running Lead Manager (BRLM) to the issue, while Maashitla Securities Private Limited is the registrar to the IPO.
The issue is being made in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. Investors are advised to refer to the Red Herring Prospectus (RHP) for detailed information on the company, the offer structure, and associated risks.
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