GRE RENEW ENERTECH IPO
The Indian renewable energy sector is experiencing a transformative period, fueled by a strong drive towards sustainable development and energy independence. Within this burgeoning market, GRE Renew Enertech Limited is set to launch its Initial Public Offering (IPO), inviting investors to partake in its growth journey. This comprehensive guide provides an in-depth look into the GRE Renew Enertech IPO, covering its business model, financial aspects, strategic objectives for capital utilization, and the critical details investors need to know to make informed decisions.
Key IPO Details at a Glance
| IPO Period | 13th – 16th Jan 2026 |
|---|---|
| Listing on | 21 Jan 2026 |
| Price Band | ₹100 – ₹105 per equity share |
| Lot Size & Minimum Investment | 1200 shares (₹1,26,000 at upper price band) |
| Total Issue Size | ₹39.56 Crores |
This table offers a snapshot of the GRE Renew Enertech IPO, outlining the subscription window, expected listing date, the price range for each share, and the minimum investment required based on the specified lot size. The total issue size indicates the amount of capital the company aims to raise through this public offering.
Important Dates for Investors
- Opening Date: 13 Jan 2026
- Closing Date: 16 Jan 2026
- UPI Payment Deadline: 16 Jan 2026 (5 PM)
- Allotment Announcement: 19 Jan 2026
- Refund Processing: 20 Jan 2026
- Demat Credit: 20 Jan 2026
- Stock Market Listing: 21 Jan 2026
- Mandate Validity End: 31 Jan 2026
- Anchor Investor Lock-in Release (50%): 14 Feb 2026
- Anchor Investor Lock-in Release (Remaining): 15 Apr 2026
*Dates may be revised as per official updates.
These dates are crucial for investors planning to participate in the IPO, from the application period to the final listing and the subsequent lock-in periods for anchor investors. Adhering to these timelines ensures a smooth investment process.
Exploring GRE Renew Enertech
Founded initially in 1999 as a partnership firm, M/s. GRE Electronics, the company has undergone significant evolution, incorporating as a private limited entity in 2008. After a strategic rebranding to GRE Renew Enertech in 2023, it transitioned into a public limited company in 2024, reflecting its focused commitment to the renewable energy sector. Spearheaded by experienced promoters Mr. Kamleshkumar Dahyalal Patel, Mr. Kirtikumar Kantilal Suthar, and Mr. Mukeshkumar Prahladbhai Trivedi, GRE Renew Enertech has built a strong foundation in providing solar power solutions.
The company primarily targets industrial and commercial clients, offering end-to-end solutions. Its business model operates on two key fronts: the CAPEX (Capital Expenditure) model and the RESCO (Renewable Energy Service Company) model. Under the CAPEX model, GRE Renew Enertech manages the entire project lifecycle, from engineering and procurement to construction (EPC) and operations, where the client owns the asset. In contrast, the RESCO model sees GRE Renew Enertech invest in and own the solar assets, supplying power to clients under long-term agreements. This dual approach provides flexibility and caters to a wider range of customer needs, solidifying its position in the rapidly expanding solar energy market.
IPO Fundraising Objectives
| Total Funds Raised | ₹39.56 Crores |
|---|---|
| Fresh Issue Component | ₹39.56 Crores |
| Offer for Sale Component | ₹0 Crores |
The GRE Renew Enertech IPO is entirely a fresh issue, signifying that all proceeds from the public offering will be directly infused into the company. This strategic choice underscores GRE Renew Enertech’s commitment to funding its growth initiatives and expanding operational capabilities without existing shareholders diluting their stake through an Offer for Sale. The capital raised is earmarked for crucial growth projects, which reflects a strong focus on enhancing the company’s asset base and driving future expansion within the renewable energy landscape.
Deployment of IPO Proceeds
| Objective | Amount (INR Crores) | Allocation % |
|---|---|---|
| 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% |
A substantial portion of the capital raised, approximately 82.44% or ₹32.61 Crores, is dedicated to establishing a new 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant. This significant investment is projected to considerably bolster the company’s asset base, augment its power generation capacity, and strengthen its market presence in the renewable energy sector. The remaining 17.56%, equivalent to ₹6.95 Crores, is allocated for general corporate purposes. This flexible allocation will support various operational needs, cover working capital requirements, facilitate strategic investments, and aid in overall business development, ensuring the company’s sustained growth and operational efficiency.
Distinctive Strengths of GRE Renew Enertech
GRE Renew Enertech possesses several core strengths that strategically position it for success in the competitive renewable energy sector:
- Integrated EPC Capabilities: The company boasts robust in-house design, engineering, and execution capabilities for its solar projects. This integrated approach ensures greater control over project quality, adherence to timelines, and cost efficiency, providing clients with a seamless, end-to-end solution from concept to operational readiness.
- Dual Business Model (CAPEX and RESCO): Offering both CAPEX and RESCO models provides GRE Renew Enertech with substantial flexibility. This allows them to cater to a diverse client base, including those who prefer outright ownership of their solar assets and those seeking power purchase agreements without significant upfront capital investment. This versatility enhances market penetration and diversifies revenue streams.
- Long Operating History: With its origins tracing back to 1999, GRE Renew Enertech brings over two decades of valuable experience, initially in electronics and subsequently in the renewable energy domain. This extensive operational history demonstrates deep industry knowledge, established operational protocols, and resilience in a dynamic market environment.
- Strong Promoter Experience and Management: The company benefits from a seasoned promoter-led management team, whose members possess extensive operational and industry experience. Their leadership ensures strategic clarity, operational excellence, and a profound understanding of market intricacies, contributing significantly to sustainable growth.
- Focus on the Fast-Growing Renewable Energy and Solar Power Segment: Operating exclusively within the rapidly expanding renewable energy and solar power sector places GRE Renew Enertech in an industry experiencing significant tailwinds. Global and national initiatives promoting clean energy provide a vast and continuously expanding market opportunity for the company’s specialized solutions.
Key Considerations for Potential Investors
While GRE Renew Enertech offers an attractive investment proposition, potential investors should carefully consider the following risk factors:
- Revenue Concentration in Gujarat: A significant portion of the company’s operations and revenue generation is currently concentrated in Gujarat. While this may offer advantages in terms of localized expertise, it exposes the company to specific regional economic fluctuations, changes in state-level policies, or adverse localized weather events, which could impact overall financial performance.
- Exposure to Project Execution Risks under Fixed-Price EPC Contracts: Under fixed-price Engineering, Procurement, and Construction (EPC) contracts, the company assumes the risk of cost overruns, project delays, or unforeseen technical challenges. Should actual project costs exceed the fixed contractual price, profitability could be significantly affected, particularly for large-scale projects.
- Dependence on Favorable Solar Weather Conditions: The operational efficiency and energy generation of solar power plants are inherently reliant on consistent sunlight availability. Unfavorable weather conditions, such as prolonged periods of cloud cover, heavy rainfall, or extreme temperatures, can reduce energy output, thereby impacting revenue generation and the overall efficiency of solar assets.
- Sensitivity to Government Policies and Budget Allocations for Solar Projects: The renewable energy sector, especially solar power, is heavily influenced by government incentives, subsidies, regulatory frameworks, and budget allocations. Any adverse modifications or the withdrawal of supportive government policies could impact project viability, investment returns, and the company’s broader growth trajectory.
- Volatility in Raw Material Prices and Reliance on Spot-Market Procurement: The cost of critical raw materials, including solar modules, inverters, and structural components, can be highly volatile. A reliance on spot-market procurement, without the benefit of long-term supply agreements, exposes the company to significant price fluctuations, which can inflate project costs and compress profit margins.
Live Subscription Updates (Post-IPO Opening)
Subscription statistics will be updated here based on the latest available information once the IPO opens for public subscription:
| Investor Category | Shares Reserved (Lakhs) | Shares Applied (Lakhs) | Subscription (Times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | – | – | – |
| Non-Institutional Investors (NII) | – | – | – |
| Retail Individual Investors (RII) | – | – | – |
| Total | – | – | – |
*GMP figures are unofficial and may vary; exchange data is more reliable.
Participating in the GRE Renew Enertech IPO
The GRE Renew Enertech IPO offers an opportunity to invest in a company operating in the promising renewable energy sector. With its integrated capabilities, flexible business model, and clear strategic allocation of capital towards new project development, the company is well-positioned to leverage India’s transition to cleaner energy. Investors considering participation are encouraged to perform thorough due diligence and consult with their financial advisors. Investors can participate in this IPO via the official Dhan Kirti IPO platform before the subscription closes.
