GRE Renew Enertech IPO
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GRE Renew Enertech IPO details
Schedule of GRE Renew Enertech
| Issue open date | 13 Jan 2026 |
| Issue close date | 16 Jan 2026 |
| UPI mandate deadline | 16 Jan 2026 (5 PM) |
| Allotment finalization | 19 Jan 2026 |
| Refund initiation | 20 Jan 2026 |
| Share credit | 20 Jan 2026 |
| Listing date | 21 Jan 2026 |
| Mandate end date | 31 Jan 2026 |
| Lock-in end date for anchor investors (50%) | 14 Feb 2026 |
| Lock-in end date for anchor investors (remaining) | 15 Apr 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About GRE Renew Enertech
GRE Renew Enertech Limited is a renewable energy solutions company focused on solar power for industrial and commercial customers. The business originated in 1999 as a partnership firm, M/s. GRE Electronics was incorporated as a company in 2008. It was rebranded as GRE Renew Enertech in 2023 and converted into a public limited company in 2024. The Company is promoted by Mr Kamleshkumar Dahyalal Patel, Mr Kirtikumar Kantilal Suthar, and Mr Mukeshkumar Prahladbhai Trivedi, who bring extensive operational and industry experience.GRE operates primarily in the solar energy segment. It provides end-to-end solutions under two models: the CAPEX model, covering engineering, procurement, construction and operations; and the RESCO model, where GRE invests in and owns solar assets and supplies power under a long-term agreement. The Company’s strengths include integrated execution capabilities, in-house engineering expertise, and a growing focus on renewable energy infrastructure, enabling scalable and sustainable project delivery.
Financials of GRE Renew Enertech
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Total issue size | 39.56 |
| Fresh Issue – Proceeds go to the company | 39.56 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant | 32.61 (82.44%) |
| General corporate purposes | 6.95 (17.56%) |
Strengths
- Integrated EPC capabilities with in-house design, engineering, and execution.
- Dual business model (CAPEX and RESCO) offering flexible solutions to clients.
- Long operating history with roots dating back to 1999.
- Strong promoter experience and continued promoter-led management.
- Focus on the fast-growing renewable energy and solar power segment.
Risks
- Revenue concentration with a majority of operations located in Gujarat.
- Exposure to project execution risks under fixed-price EPC contracts.
- Dependence on favourable solar weather conditions for project performance.
- Sensitivity to government policies and budget allocations for solar projects.
- Volatility in raw material prices and reliance on spot-market procurement.