Bookbuilding IPO | ₹[.] Cr | Listing at BSE SME |
Grace Renewable Energy Ltd. has withdrawn its Initial Public Offer (IPO) documents filed with the exchange on May 7, 2025.
Grace Renewable Energy Ltd. IPO was a Book Build Issue
The equity shares were proposed to be listed on the BSE SME. Marwadi Chandarana Intermediaries Brokers Pvt.Ltd. was the book running lead manager and Kfin Technologies Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Tue, Mar 25, 2025 |
| Offer document withdrawn | Wed, May 7, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Incorporated in 2014, Grace Renewable Energy Limited is engaged in the business of solar energy solutions in India.
The company specializes in end-to-end Engineering, Procurement, and Construction (EPC) services for rooftop solar systems, catering to residential, commercial, industrial, institutional, NGO, and hospital sectors.
With experience in handling over 8,000 projects totaling more than 75 MW of installed capacity, Grace Renewable Energy has significantly contributed to India's solar revolution.
From April 2021 to September 2024, the company commissioned 36,450 KW solar projects across 3,359 sites in 8 Indian states and 2 countries, including residential, commercial, and industrial installations.
Products Portfolio:
Solar EPC Contracts:
Supplier and Subcontractor Selection: Chooses suppliers and subcontractors based on technical qualifications and risk.
Permits and Approvals: Obtains required permits and finalizes design specifications with customers.
Design and Engineering: Conducts feasibility studies and develops detailed technical designs.
Procurement and Construction: Purchases components, inspects, and tests during the procurement phase.
Installation & Commissioning: Installs plant and performs final inspection and testing for performance.
Others:
Quality Control and Testing: Ensures consistent quality, efficacy, and safety throughout the project lifecycle.
Manufacturing Process of BESS: New 248 MW BESS facility planned for enhanced storage solutions.
Storing Incoming Cells: Store cells at controlled temperature, humidity, and charge levels.
Cell Aging: The Aging process reduces capacity due to physical and chemical changes.
Cell Sorting: Group cells based on internal properties using CV and IR testing.
As of January 31, 2025, the company had 56 employees.
Competitive Strengths:
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 24.93 | 16.42 | 9.19 | 8.33 |
| Total Income | 52.76 | 78.32 | 38.74 | 49.47 |
| Profit After Tax | 7.00 | 5.75 | 0.73 | 0.87 |
| NET Worth | 16.20 | 9.21 | 3.46 | 2.73 |
| Reserves and Surplus | 13.20 | 6.21 | 3.41 | 2.68 |
| Total Borrowing | 2.17 | 3.24 | 4.10 | 3.03 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of Machinery for setting up BESS facility ( Phase II) | 9.99 |
| 2 | Meeting Working Capital Requirements | 34.98 |
| 3 | General Corporate Purposes |
| KPI | Mar 31, 2024 |
|---|---|
| ROCE | 77.06% |
| Debt/Equity | 0.35 |
| RoNW | 62.40% |
| PAT Margin | 7.37% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM fees (including underwriting, brokerage and selling commission) | |
| 2 | Commission / processing fee for SCSBs, Sponsor Bank and Bankers to the Issue. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | |
| 3 | Fees payable to Registrar to the Issue | |
| 4 | Fees payable to auditors, market research firms and other consultants / professionals | |
| 5 | Other Expenses | |
| 6 | Listing fees, SEBI Fees, upload fees, BSE, book building software fees and other regulatory expenses | |
| 7 | Printing and Stationery | |
| 8 | Advertising and Marketing expenses | |
| 9 | Fees payable to Legal Advisors to the Issue | |
| 10 | Miscellaneous |
Lead Manager Reports
Grace Renewable Energy IPO is a SME IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Grace Renewable Energy IPO open and close dates are not available as of now.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Grace Renewable Energy IPO using UPI as a payment gateway. Zerodha customers can apply in Grace Renewable Energy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Grace Renewable Energy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Grace Renewable Energy IPO dates are not announced. Please check back again after some time.
Grace Renewable Energy IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Grace Renewable Energy IPO online using either UPI or ASBA as a 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. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Grace Renewable Energy IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Grace Renewable Energy IPO allotment status.
The Grace Renewable Energy IPO listing date is not yet announced. The tentative date of listing is .
