GRE Renew Enertech Sets IPO Price Band at INR 100–105; Issue Opens January 13

GRE Renew Enertech, an on-site solar energy solutions provider for industrial and commercial customers, has fixed the price band for its upcoming Initial Public Offering (IPO) at INR 100–105 per equity share. The IPO will open for subscription on January 13, 2026, and close on January 16, 2026, while the anchor book will open on January 12, 2026.

The IPO is a fresh issue of 37.68 lakh equity shares with a face value of INR 10 each, offered through the book-building route. At the upper end of the price band, the total issue size is estimated at INR 39.56 crore. The company’s equity shares are proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE SME).

Retail investors can bid for a minimum of 2,400 equity shares and thereafter in multiples of 1,200 shares, as specified in the offer document.

According to the Red Herring Prospectus, a significant portion of the IPO proceeds will be utilised to set up a 7.20 MW (AC) ground-mounted solar power plant under the Renewable Energy Service Company (RESCO) model. The remaining funds will be deployed for general corporate purposes.

The company delivers green energy solutions by developing on-site solar projects under both Capital Expenditure (CAPEX) and RESCO models, enabling industrial and commercial customers to transition to clean and sustainable energy sources.

For the financial year ended March 31, 2025, the company reported total revenues of INR 84.37 crore and a Profit After Tax (PAT) of INR 7.03 crore.

Share India Capital Services is acting as the sole Book Running Lead Manager (BRLM) to the issue, while Maashitla Securities has been appointed as the registrar.

The IPO is being launched in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. Prospective investors are advised to refer to the Red Herring Prospectus for detailed information on the company, the offer and associated risks.