GRE Renew Enertech IPO 2026: Complete Details, Important Dates, Price Band, Financials, Risks & FAQs
GRE Renew Enertech IPO Overview
GRE Renew Enertech Limited is launching its SME Initial Public Offering (IPO) in January 2026. The company operates in the renewable energy sector, primarily providing solar energy solutions to industrial and commercial customers across India.
With increasing focus on clean energy and solar power adoption, GRE Renew Enertech aims to capitalize on the growing demand for renewable energy infrastructure. However, being an SME IPO, it carries higher risk and volatility.
GRE Renew Enertech IPO Key Details
| Particulars | Details |
|---|---|
| IPO Name | GRE Renew Enertech IPO |
| Company Name | GRE Renew Enertech Ltd |
| IPO Type | SME IPO |
| Issue Size | ₹39.56 Crore |
| Price Band | ₹100 – ₹105 per share |
| Lot Size | 1,200 shares |
| Minimum Investment | ₹2,40,000 |
| Face Value | ₹10 |
| Listing Exchange | BSE SME |
| Registrar | Yet to be announced |
GRE Renew Enertech IPO Important Dates
| Event | Date |
|---|---|
| IPO Opens | 13 January 2026 |
| IPO Closes | 16 January 2026 |
| Tentative Allotment | 19 January 2026 |
| Refunds Initiation | 21 January 2026 |
| Shares Credited to Demat | 21 January 2026 |
| Tentative Listing Date | 21 January 2026 |
About GRE Renew Enertech Limited
Founded in 1999, GRE Renew Enertech Limited is engaged in providing solar energy solutions to industrial and commercial customers in India.
Business Activities
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Design and engineering of solar power projects
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Engineering, Procurement & Construction (EPC) services
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Solar project installation and commissioning
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Operations & Maintenance (O&M) services
Managing Director / CEO
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Mr. Kamlesh Kumar Dahyalal Patel
Parent Organization
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GRE Renew Enertech Ltd
The company’s operations focus on supporting India’s transition toward renewable and sustainable energy.
Strengths of GRE Renew Enertech IPO
✅ End-to-End Solar EPC Capabilities
The company manages projects through in-house O&M teams, covering design, procurement, installation, monitoring, and maintenance.
✅ Experience in Solar Power Projects
GRE Renew Enertech has executed and undertaken several solar EPC projects with aggregate installed capacity over 61 MW, supported by favorable government policies.
✅ Monitoring & Performance Tracking
The company uses remote monitoring systems to track installed solar projects, helping reduce downtime and improve operational efficiency.
✅ Alignment with Environmental Goals
The business model supports renewable energy adoption, reduced carbon emissions, and India’s clean energy initiatives.
GRE Renew Enertech Financial Performance
Revenue Growth (₹ Crore)
| Financial Year | Revenue |
|---|---|
| FY23 | ₹32.22 Cr |
| FY24 | ₹93.34 Cr |
| FY25 | ₹81.77 Cr |
Profit After Tax (₹ Crore)
| Financial Year | Profit |
|---|---|
| FY23 | ₹4.90 Cr |
| FY24 | ₹9.43 Cr |
| FY25 | ₹7.71 Cr |
Although revenue and profit declined slightly in FY25, the company remains profitable.
Risks & Weaknesses of GRE Renew Enertech IPO
⚠️ Fixed-Price EPC Contract Risk
Most projects are undertaken under fixed-price EPC contracts, exposing the company to cost overruns due to:
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Material price fluctuations
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Delays in execution
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Inaccurate cost estimates
⚠️ Highly Competitive Solar Industry
The solar EPC sector is highly competitive, with multiple players competing on pricing, technology, and execution capability.
⚠️ Revenue Concentration Risk
A large portion of revenue comes from Gujarat-based projects, making the business vulnerable to regional economic and policy changes.
⚠️ Dependence on Government Policies
Solar project demand depends heavily on:
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Government incentives
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Renewable energy policies
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Budget allocations
Any adverse policy change can impact order inflow.
⚠️ Negative Cash Flows
The company reported negative cash flows from operating activities in multiple periods, which may affect working capital and liquidity.
⚠️ Receivables Risk
As of September 30, 2025, the company had trade receivables of ₹8.64 crore. Delays in collections can impact cash flow.
⚠️ SME IPO Liquidity Risk
Being listed on BSE SME, the stock may face:
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Low trading volumes
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High price volatility
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Limited exit opportunities
Who Should Invest in GRE Renew Enertech IPO?
✔️ Suitable For:
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High-risk investors
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Investors bullish on renewable energy & solar sector
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Long-term SME investors
❌ Not Suitable For:
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Conservative investors
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Short-term traders
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Investors seeking high liquidity
GRE Renew Enertech IPO Application Details
| Category | Investment Limit |
|---|---|
| Individual Investor | ₹2 – ₹5 Lakh |
| Lot Size | 1,200 Shares |
| Minimum Order Quantity | 2,400 Shares |
GRE Renew Enertech IPO FAQs
Q1. What is the issue size of GRE Renew Enertech IPO?
The issue size of the IPO is ₹39.56 crore.
Q2. What is the price band of GRE Renew Enertech IPO?
The price band is ₹100 to ₹105 per share.
Q3. What is the minimum investment required?
Minimum investment is ₹2,40,000.
Q4. When will GRE Renew Enertech IPO open and close?
The IPO opens on 13 January 2026 and closes on 16 January 2026.
Q5. On which exchange will GRE Renew Enertech IPO be listed?
The shares will be listed on BSE SME.
Q6. Is GRE Renew Enertech IPO risky?
Yes, as an SME IPO, it carries higher risk due to limited liquidity and dependence on solar EPC contracts.
Final Verdict: Should You Apply for GRE Renew Enertech IPO?
GRE Renew Enertech IPO offers exposure to India’s rapidly growing renewable energy sector, backed by long operational history and profitable operations. However, risks such as negative cash flows, regional revenue concentration, and SME liquidity issues cannot be ignored.
👉 High-risk, long-term investors may consider applying.
👉 Conservative investors should avoid or invest with caution.
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