GRE Renew Enertech Receives In-Principle Approval from BSE SME for Proposed IPO

GRE Renew Enertech Ltd. has received in-principle approval from the Bombay Stock Exchange (BSE) for its proposed initial public offering (IPO) on the SME platform.

The Mehsana-based solar solutions provider had submitted the required documents to BSE in September 2025 to initiate the SME IPO. According to the Draft Red Herring Prospectus (DRHP), the company plans to issue up to 37.68 lakh equity shares with a face value of INR 10 each. GRE is in the process of filing the Red Herring Prospectus (RHP) with updated information, subject to regulatory approvals.

GRE Renew Enertech specialises in on-site solar energy solutions for commercial, industrial, and institutional clients under both EPC and RESCO models. The company also executes ground-mounted solar projects using shared infrastructure where applicable. As part of its IPO plans, a portion of the proceeds will be used to develop a 7.2 MW AC ground-mounted solar power project under the RESCO model.

For the financial year ending March 31, 2025, the company reported revenues of approximately INR 83.72 crore and a profit after tax (PAT) of INR 7.03 crore.