GRE Renew Enertech
CLOSEDIPO Date: 13 Jan - 16 Jan 2026
Listing Date: 21 Jan 2026
Price Range
Rs.100 - Rs.105
Issue Size
40 Cr
Min Investment
₹1,20,000
Lot Size
1200 Shares
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
Share credit
20 Jan 2026
Listing date
21 Jan 2026
Mandate end date
31 Jan 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 40 Cr |
| Fresh Issue | 39.56 Cr |
| Offer for Sale | 0 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 19 Jan 2026 |
| Allotment Link | {Link} |
Grey Market PremiumNew
Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | Ipo Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 21 Jan 2026 | ₹105 | ₹1 | ₹106 (0.95%) |
Performance GRE Renew Enertech
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| Rs.100 - Rs.105 | ₹ 201 (-8.57%) | ₹ 114.05 | 8.62% |
About GRE Renew Enertech
GRE Renew Enertech Limited is engaged primarily in the business of providing solar energy solutions to industrial and commercial customers in India. The company’s core operations are focused on the design, engineering, procurement, construction, operation, and maintenance of rooftop and selective ground-mounted solar power projects. Its activities are structured around two principal business models: the Capital Expenditure (CAPEX) model and the Renewable Energy Service Company (RESCO) model. Under the CAPEX model, customers invest in the solar project assets, while the company undertakes engineering, procurement, construction, and operational responsibilities on behalf of the customer. Under the RESCO model, the company develops, owns, and operates solar power installations and supplies electricity to customers at pre-agreed tariffs for the duration of the contract. In addition to its solar energy operations, the company manufactures light-emitting diode (LED) lighting solutions for indoor and outdoor applications. The company operates through three divisions: the solar segment, the LED segment, and the export segment. It also has a foreign subsidiary, DK USA Inc., which is engaged in departmental stores, convenience stores, and gas station operations in the United States and functions independently from the company’s core solar activities. GRE Renew Enertech Limited’s operations are currently concentrated mainly in Gujarat.
| Founded in | 1999 |
| Managing director | Mr Kamleshkumar Dahyalal Patel |
| Parent organization |
Financial Overview
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.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 14.69 |
| Non-Institutional Investors (NIIs) | 14.47 |
| Retail Individual Investors (RIIs) | 10.42 |
| Employee | N/A |
| Total | 12.64 |