GRE Renew Enertech SME IPO Details | Price, GMP,Price Band, Financials & Review
Latest Grey Market Premium & IPO Details
GRE Renew Enertech SME IPO 2026 – Key Info & Highlights
GRE Renew Enertech SME IPO 2026, which was open for subscription from 13 to 16 January, was offered in a price band of ₹100–₹105 per share. In the days leading up to the listing, IPO GMP trends showed noticeable fluctuations, reflecting a cautious sentiment among investors.
For instance, on 13 January 2026, the IPO’s grey market premium (GMP) touched ₹7, indicating an estimated listing price of around ₹112 per share. However, on 16 and 19 January 2026, the GMP moderated to ₹6, signaling a shift in market expectations. Closer to the listing date, on 21 January 2026, the GMP further weakened to ₹1, significantly lowering listing expectations.
These IPO GMP signals were clearly reflected on the listing day, as the issue debuted on the BSE SME at ₹96 per share, resulting in a soft listing. The day-wise GMP movement once again highlighted its importance as a key indicator of SME IPO listing performance.
📌 IPO Details
| Company Name | GRE Renew Enertech SME IPO |
|---|---|
| Sector / Industry | Solar Power / Solar EPC (Engineering, Procurement & Construction) |
| IPO Open Date | 13-01-2026 |
| IPO Close Date | 16-01-2026 |
| Allotment Date | 19-01-2026 |
| Refund Date | 20-01-2026 |
| Share Credit Date | 20-01-2026 |
| Listing Date | 21-01-2026 |
| Price Band | ₹100 - ₹105 |
| Lot Size | 1200 Shares |
| Min Investment | ₹2,52,000 (2 lots Price ) |
| Net Issue Size | ₹39.56 Cr |
| Fresh Issue | ₹37.55 Cr |
| OFS | ₹Not applicable Cr |
| Face Value | ₹10 Per Equity Share |
* All Dates are provisional
Quota Allocation
| Category | Allocation (%) |
|---|---|
| Retail Investors | 35% |
| QIB (Qualified Institutional Buyers) | 50% |
| HNI (High Net Worth Individuals) | 15% |
📈 Grey Market Premium (GMP) Day-wise Trend
| GMP Date | GMP Price | Trend | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 21-01-2026 | ₹1.00 | - | ₹106.00 | ₹1200.00 | 21-01-2026 08:59 |
| 20-01-2026 | ₹1.00 | ▼ | ₹106.00 | ₹1200.00 | 20-01-2026 23:42 |
| 19-01-2026 | ₹6.00 | - | ₹111.00 | ₹7200.00 | 19-01-2026 23:42 |
📝 About GRE Renew Enertech SME
GRE Renew Enertech Limited is a renewable energy company providing rooftop and ground-mounted solar power solutions to industrial and commercial clients across India. The company operates through CAPEX (EPC) and RESCO (OPEX) models, offering flexibility to customers based on investment preference. Under the EPC model, clients own the solar assets, while under RESCO, GRE owns and operates the plant and earns revenue through long-term power supply agreements.
The company is also developing large ground-mounted solar projects to build recurring income. ISO 9001:2015 certification highlights its focus on quality, efficiency, and reliable solar execution. Solar energy remains the core business, with LED products contributing a very small share of revenue.
The company focuses on reducing power costs for clients while supporting India’s clean energy and carbon reduction goals through sustainable solar infrastructure.
GRE Renew Enertech SME Revised Financials
Profit / Loss & Total Assets (Last 3 Years)
| Financial Year | Revenue (₹ Cr) | Profit / Loss (₹ Cr) | Total Assets (₹ Cr) |
|---|---|---|---|
| FY 2023 | 53.11 | +0.89 | 51.65 |
| FY 2024 | 92.15 | +9.91 | 49.12 |
| FY 2025 | 84.37 | +7.03 | 45.46 |
Note: Positive figures indicate profit. Total Assets and Revenue are reported in ₹ Crore. FY 2025 figures are as per draft IPO prospectus.
GRE Renew Enertech Limited – Objects of Issue
- Expansion of Solar Power Projects – Funds will be used for development, installation, and commissioning of rooftop and ground-mounted solar power plants.
- Investment in RESCO Model – To create company-owned solar assets generating stable and recurring revenue through long-term power purchase agreements.
- Capital Expenditure & Technology Upgrade – For procurement of advanced solar modules, inverters, plant & machinery, and improving project execution efficiency.
- Working Capital Support – To ensure liquidity for EPC projects, operation & maintenance (O&M) services, and day-to-day business operations.
- General Corporate Purposes – To support business growth initiatives, operational strengthening, and strategic opportunities.
GRE Renew Enertech Limited – Strengths
- Strong Promoter & Management Experience – Experienced leadership in the renewable energy and solar EPC sector, efficiently managing project execution and risk.
- Dual Business Model (EPC & RESCO) – Presence in both CAPEX and OPEX models, catering to diverse client requirements and improving revenue visibility.
- End-to-End Solar Capabilities – Ability to provide design, engineering, procurement, installation, and O&M services on a single platform.
- Focus on Quality & Compliance – Emphasis on high-quality standards and reliable project delivery, backed by ISO 9001:2015 certification.
- Growing Renewable Energy Demand – Rising solar adoption in the industrial and commercial segments, supporting future growth potential.
GRE Renew Enertech Limited – Risks
- Project Execution Risk – Delays, cost overruns, or technical issues in solar EPC and RESCO projects can impact profitability and project timelines.
- Regulatory & Policy Risk – Changes in renewable energy policies, state-level approvals, grid connectivity, or subsidy structures may affect business operations.
- Dependence on Key Clients – High reliance on industrial and commercial customers may expose the company to client loss or delayed payments.
- Capital & Funding Risk – RESCO projects require continuous capital investment for company-owned assets, potentially creating cash flow pressure.
- Competitive Industry Risk – Intense competition in the solar EPC and renewable energy sector can impact margins and order inflows.
GRE Renew Enertech Limited
Solar Power EPC & Renewable Energy Solutions Provider in India
| Founded in: | 2008 |
|---|---|
| MD/CEO: | Mr. Kamleshkumar D. Patel |
| Address: | Plot No. 423, G.I.D.C.-II, Dediyasan, Mehsana – 384002, Gujarat, India |
| Website: | https://greindia.com/ |
| Phone: | +91 99740 39300 |
| Email: | info@greindia.com |
| Services: | Rooftop & Ground-Mounted Solar Power Solutions, Solar EPC Services, Solar Project Design & Installation, O&M, Renewable Energy Consultancy, LED Lighting Solutions |
IPO Quick Info
13 Jan 2026
16 Jan 2026
Upcoming
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Frequently Asked Questions
Under the EPC (CAPEX) model, the customer invests in and owns the solar power plant, while GRE handles design, engineering, installation, and maintenance. Under the RESCO (OPEX) model, GRE owns and operates the plant and supplies electricity to customers at a fixed tariff, generating long-term recurring revenue.