Here are the important dates you need to know in order to participate in this IPO
Offer Start Date
13th Jan
Offer End Date
16th Jan
Allotment Date
19th Jan
Refund Initiation
19th Jan
Demat Transfer
20th Jan
Listing Date
21st Jan
Incorporated as GRE Renew Enertech Limited, the company is engaged in providing solar energy solutions along with LED lighting products, with its current operations largely centred on the solar segment. Its activities include the design, engineering, procurement, construction, and commissioning of rooftop and ground-mounted solar power projects for industrial and commercial users. The company’s portfolio also covers grid-connected rooftop systems and hybrid solar installations that integrate solar panels, batteries, and grid access. While it initially operated as a manufacturer of LED lighting solutions, its business focus has gradually shifted towards solar energy projects and related execution services.
GRE Renew Enertech Limited operates through two primary business models: the Capital Expenditure (CAPEX) model and the Renewable Energy Service Company (RESCO) model. Under the CAPEX model, customers fund and own the solar assets, while the company undertakes engineering, procurement, construction, and, where applicable, operation and maintenance activities. Under the RESCO model, the company develops, owns, and operates rooftop or ground-mounted solar installations, supplying power to consumers under agreed tariff arrangements over the contract period. In this structure, the solar assets remain with the company for the duration of the agreement. These models place the company’s operations within the broader context of on-site solar adoption by commercial and industrial consumers in India.
| Pre-Issue | Post-Issue | |
|---|---|---|
| Promoter Group | 95.05% | 69.99% |
| Public Group | 4.95% | 30.01% |
| QIB Shares Offered | 7,14,000 (18.95%) |
| NII (HNI) Shares Offered | 5,40,000 (14.33%) |
| Retail Shares Offered | 12,60,000 (33.44%) |
| Anchor Investor Shares Offered | 10,62,000 (28.18%) |
| Total Shares Offered | 37,68,000 |
| Total Shares With Anchor Investor | 37,68,000 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,52,000 |
| Retail (Max) | 2 | 2,400 | ₹2,52,000 |
| S HNI (Min) | 3 | 3,600 | ₹3,78,000 |
| S HNI (Max) | 7 | 8,400 | ₹8,82,000 |
| B HNI (MIN) | 8 | 9,600 | ₹10,08,000 |
| Bid Date | January 12, 2026 |
| Maashitla Securities Pvt Ltd | |
|---|---|
| Phone Number | +91 1145121795 |
| Email Id | ipo@maashitla.com |
| Website | www.maashitla.com |
1. Share India Capital Services Pvt Ltd
| March 31, 2025 | March 31, 2024 | March 31, 2023 | |
|---|---|---|---|
| Net Worth | ₹31.23 Cr | ₹21.03 Cr | ₹11.14 Cr |
| Reserves and Surplus | ₹20.71 Cr | ₹19.78 Cr | ₹9.89 Cr |
| Total Borrowing | ₹1.59 Cr | ₹4.57 Cr | ₹4.75 Cr |
Operates in the solar energy solutions segment with experience across engineering, procurement, construction, and operation of solar projects.
Follows both CAPEX and RESCO business models, allowing engagement with customers having different asset ownership and power consumption preferences.
Financial metrics show growth in net worth and reserves over the reviewed period, indicating changes in capital structure and retained earnings.
Involvement in rooftop and ground-mounted solar installations supports participation in on-site renewable energy adoption by industrial and commercial users.
Promoter-led management with operational experience in solar project execution and oversight.
Business performance is linked to project execution timelines, which may vary based on approvals, site conditions, and customer readiness.
Revenue may fluctuate due to the project-based nature of EPC contracts and long-term timelines associated with RESCO arrangements.
Operations remain concentrated in the solar energy segment, which can be influenced by regulatory policies, financing conditions, and market demand.
Changes in input costs or availability of funding may affect margins and project viability.
SME IPO listings may experience lower liquidity compared to mainboard issues.
India’s energy demand is projected to rise over the coming decades, driven by population size, urbanisation, and economic activity, creating sustained requirements for additional power generation capacity.
A significant portion of incremental electricity demand is expected to be addressed through renewable and low-carbon energy sources, in line with India’s stated climate and energy transition objectives.
India has announced its intent to achieve net zero carbon emissions by 2070 and to meet around 50 percent of its electricity requirements from renewable sources by 2030, shaping long-term policy direction for the sector.
As of 2023, India ranked among the leading countries globally in terms of installed wind power capacity, solar power capacity, and overall renewable energy capacity.
Renewable power generation capacity in India has expanded steadily in recent years, recording a compound annual growth rate of about 15.4 percent between FY16 and FY23.
Total installed renewable energy capacity in India stood at approximately 125.15 GW in FY23, reflecting continued capacity additions across solar, wind, and other renewable sources.
India has seen continued additions in renewable electricity capacity, with further capacity additions expected to continue over the medium term.
Policy measures, regulatory frameworks, and government-led initiatives aimed at energy security and emissions reduction continue to influence investment activity and project development in the renewable energy sector.
Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for GRE Renew Enertech IPO.
GRE Renew Enertech Ltd IPO is a SME IPO of 37,68,000 equity shares of a face value of ₹10 aggregating up to ₹39.56 Crores. The issue is priced at ₹100 to ₹105 per share. The minimum order quantity is 1200 Shares. The IPO opens on January 13, 2026, and closes on January 16, 2026. Maashitla Securities Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE-SME.
The GRE Renew Enertech Ltd IPO opens on January 13, 2026 and closes on January 16, 2026.
GRE Renew Enertech Ltd lot size is 1200 shares, and the minimum amount required is ₹2,52,000.
You can apply in GRE Renew Enertech Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:
• Login to Bajaj Broking account App/Website & click on IPO
• Enter the number of lots and price at which you wish to apply.
• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
• You will receive a mandate notification to block funds in your UPI app.
• Approve the mandate request on your UPI and funds will be blocked.
The finalization of Basis of Allotment for GRE Renew Enertech Ltd IPO will be done on January 19, 2026, and the allotted shares will be credited to your demat account by January 20, 2026.
The GRE Renew Enertech Ltd listing date is January 21, 2026.
The registrar of GRE Renew Enertech Ltd IPO is Maashitla Securities Pvt Ltd
Share India Capital Services Pvt Ltd will be the book-running lead manager of this IPO.
The fresh issue size is ₹39.56 Crores equity shares.
Retail investors can subscribe to a minimum of one lot, 1200 shares and ₹2,52,000 amount.
To apply for GRE Renew Enertech Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.
The price of each GRE Renew Enertech Ltd share will be ranging in between ₹100 to ₹105 per share.
The cut-off time for the UPI mandate confirmation is 5:00 PM, January 16, 2026.
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