ClosedSMERenewable Energy · Solar Energy Solutions
GRE Renew Enertech
GRERENEW·₹105·Opens 2026-01-13
★★★★☆4/5
🔗 Official WebsiteSubscribed
12.64×
Overall
Price Band: ₹105
Issue Size: —
About the Company
What does this company do?
GRE Renew Enertech Limited is engaged in the business of designing, engineering, procurement, construction and commissioning of solar photovoltaic power plants. The company provides end-to-end EPC solutions for utility-scale and rooftop solar installations. The company operates through its subsidiaries DK USA INC and G…
IPO Details
Issue parameters, key dates and structure.
Reservation Structure
QIB (Qualified Institutional Buyers)
50
Not more than 50% of Net Issue, with 5% sub-allocation for Mutual Funds
NII / HNI (Non-Institutional Investors)
15
Not less than 15% of Net Issue
RII (Retail Individual Investors)
35
Not less than 35% of Net Issue
Financial Performance
P&L, Balance Sheet and Cash Flow — all figures in ₹ Crores.
| Particulars (₹ Cr) | FY2025 |
|---|
All figures in ₹ Crores (INR). Data sourced from DRHP/RHP.
Key Financial Ratios
Valuation and profitability metrics at the IPO price.
EPS — Basic (₹)
6.71
FY2025
EPS — Diluted (₹)
6.71
FY2025
P/E Ratio
15.65
At upper band of ₹105
RoNW (%)
22.49
FY2025
NAV per Share (₹)
29.80
Pre-issue (Post bonus)
Debt/Equity
0.05
FY2025
EBITDA Margin (%)
—
FY2025
PAT Margin (%)
8.33
FY2025
Revenue CAGR
26.21
FY2023-FY2025 (2-yr)
Peer Comparison
Listed peers in the same industry — compare valuation and scale.
| Company | Exchange | Market Cap | Revenue (₹ Cr) | PAT (₹ Cr) | P/E | ROE |
|---|---|---|---|---|---|---|
| Industry High | — | — | — | — | 33.13 | — |
| Industry Low | — | — | — | — | 29.58 | — |
| Industry Average | — | — | — | — | 31.35 | — |
* Peer data extracted from DRHP. All figures in ₹ Crores unless stated. P/E based on latest available earnings.
Competitive Strengths
Key advantages highlighted in the DRHP.
✓
Established track record in solar EPC sector with presence across multiple states in India
✓
Strong order pipeline and long-term contracts providing revenue visibility
✓
Experienced management team with technical expertise in renewable energy sector
✓
Ability to leverage subsidiaries for market expansion and operational efficiency
Promoters & Shareholding
Pre & post-IPO shareholding pattern. Click a promoter card to learn more.
Promoters
Shareholding Pattern
95.0569.98%
4.9530.02%
PrePost
Key Risks
Material risk factors to consider before applying.
⚠
Dependence on government policies and subsidies for renewable energy sector
⚠
Exposure to project execution and completion risks in EPC contracts
⚠
Competition from established players in solar EPC space
⚠
Commodity price volatility affecting input costs
⚠
Regulatory and permitting risks for solar installations
✓ Subscribe
Should You Apply?
GRE Renew Enertech Limited is a solar EPC company providing end-to-end solutions for utility-scale and rooftop solar installations. The company demonstrated strong growth with revenue CAGR of 26.2% (FY2023-25) and healthy profitability margins. With low debt levels (D/E: 0.05), strong order pipeline from SECI projects, and experienced management team, the company is well-positioned in the growing renewable energy sector. At the upper price band of ₹105, the stock offers an attractive P/E of 15.65x on FY2025 earnings. Subscribe for medium to long-term capital appreciation driven by India's renewable energy expansion.
⚠️ This is not investment advice. CheckIPO provides information for educational purposes only. Always consult a SEBI-registered financial advisor before investing.
IPO Timeline
Key milestones from opening to listing.
📅
IPO Opens
2026-01-13
🔒
IPO Closes
2026-01-16
🏛️
Listing
2026-01-20
Lead Managers & Registrar
Institutions managing the issue and handling allotment.
Book Running Lead Managers (1)
SHARE INDIA CAPITAL SERVICES
Registrar to the Issue
📋
MAASHITLA SECURITIES PRIVATE LIMITED
Registrar to the Issue
Company Details
Registered information and contact details.
Company Name
GRE RENEW ENERTECH LIMITED
CIN
U31100GJ2008PLC055304
Registered Office
Plot no. 423, G.I.D.C.-II, Dediyasan, Mehsana-384002, Gujarat
Contact Person
Mr Rohan Jayeshbhai Dhruve
Phone
+91 9974039300
Email
cs@greindia.comWebsite
https://greindia.com