GRE Renew Enertech IPO
Market Sentiment
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 53.11 | 92.15 | 84.37 | 43.98 |
| Expense | 74.91 | 79.52 | 74.91 | 38.58 |
| Profit (PAT) | 0.89 | 9.91 | 7.03 | 4.00 |
| Total Assets | 51.65 | 49.12 | 45.46 | 42.77 |
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Oriana Power Limited | 81.92 | 15.99 | 49 |
| Zodiac Energy Limited | 13.38 | 29.27 | 28 |
Promoters: Mr. Kamleshkumar Dahyalal Patel, Mr. Kirtikumar Kantilal Suthar, and Mr. Mukeshkumar Prahladbhai Trivedi
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,05,20,000 | 95.06% |
| Promoter Holding Post Issue | 1,42,88,000 | 69.99% |
Strengths & Risks
- Strong institutional (QIB) demand — 14.7x.
- Solid profit margin — 8.3%.
- Strong return on equity — 27%.
- Low leverage — debt/equity of 0.05.
- Revenue fell 8% in the latest reported year.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Since its incorporation in 2006, GRE Renew Enertech Limited has been engaged in offering rooftop and ground-mounted solar solutions to industrial and commercial customers. Its business is divided into 2 segments, which are Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). Under the CAPEX segment, the firm provides Engineering, Procurement, construction, and operation of solar projects. Under the RESCO model, the company signs an agreement with rooftop owners to install and operate solar systems on their rooftops. The business is also involved as a manufacturer of Light Emitting Diode (“LED”) lighting solutions. But, as of the past few years, the company’s primary focus has been mostly on solar energy solutions. The GRE Renew Enertech’s main goal is to become the preferred choice of a top-quality solar solutions provider for industrial and commercial customers.
GRE Renew Enertech Ltd., Plot no. 423,, G.I.D.C.-II, Dediyasan, Mehsana, Gujarat, 384002
| Purpose | Amount (Cr) |
|---|---|
| Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant | 32.61 |
| General corporate purposes | - |
Resources & Documents
GRE Renew Enertech has set a price band of Rs 100–Rs 105 per share in the renewable energy sector. The stock listed with a 8.57% discount versus its issue price on January 21, 2026.
Since its incorporation in 2006, GRE Renew Enertech Limited has been engaged in offering rooftop and ground-mounted solar solutions to industrial and commercial customers. Its business is divided into 2 segments, which are Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). The company operates in the renewable energy space.
The issue is promoted by Mr. Kamleshkumar Dahyalal Patel, Mr. Kirtikumar Kantilal Suthar, and Mr. Mukeshkumar Prahladbhai Trivedi with Share India Capital Services Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant (Rs 33 crore) and General corporate purposes.
On fundamentals, the company is posting revenue growth of -8.4%, a profit margin of 8.3%, return on equity of 26.9% in its most recent reported period. Listed peers in this segment include Oriana Power Limited (P/E 15.99x, market cap Rs 49 crore) and Zodiac Energy Limited (P/E 29.27x, market cap Rs 28 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
GRE Renew Enertech IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full GRE Renew Enertech GMP history and trend, or learn how grey market premium works and how reliable it is.
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