GRE Renew Enertech Limited is engaged in the business of solar energy solutions and LED lighting products.
They offer rooftop and ground-mounted solar installations, as well as indoor and outdoor LED lighting solutions.
The company, originally a manufacturer of LED lighting solutions, now primarily focuses on solar energy.
Business Model:
Products and services:
Competitive Strengths:
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 42.77 | 45.46 | 49.12 | 51.65 |
| Total Income | 43.98 | 84.37 | 92.15 | 53.11 |
| Profit After Tax | 4.00 | 7.03 | 9.91 | 0.89 |
| EBITDA | 5.72 | 9.48 | 11.48 | 1.31 |
| NET Worth | 35.22 | 31.23 | 21.03 | 11.14 |
| Reserves and Surplus | 24.70 | 20.71 | 19.78 | 9.89 |
| Total Borrowing | 1.45 | 1.59 | 4.57 | 4.75 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up of 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Power Plant | 32.61 |
| 2 | General corporate purposes |
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 12.04% | 26.89% |
| ROCE | 15.30% | 29.60% |
| Debt/Equity | 0.04 | 0.05 |
| RoNW | 12.04% | 26.89% |
| PAT Margin | 9.13 | 8.39% |
| EBITDA Margin | 13.06 | 11.33% |
| Price to Book Value | 3.54 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.68 | 5.60 |
| P/E (x) | 15.72 | 18.75 |
| IPO Date | 13 to 16 Jan, 2026 |
| Listing Date | Wed, Jan 21, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹105 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 37,68,000 shares (agg. up to ₹40 Cr) |
| Reserved for Market Maker |
1,92,000 shares
(agg. up to ₹2 Cr) |
| Net Offered to Public | 35,76,000 shares (agg. up to ₹38 Cr) |
| Share Holding Pre Issue | 1,05,20,000 shares |
| Share Holding Post Issue | 1,42,88,000 shares |
Mr. Kamleshkumar Dahyalal Patel, Mr. Kirtikumar Kantilal Suthar, and Mr. Mukeshkumar Prahladbhai Trivedi are the promoters of the company.
| Share Holding Pre Issue | 95.06% |
| Share Holding Post Issue | 70% |
As per our analysis and Based on the information we have, this is the output.
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