GRE Renew Enertech Ltd. has withdrawn its Initial Public Offer (IPO) documents filed with the exchange on March 24, 2025.
GRE Renew Enertech Ltd. IPO was a Book Build Issue
The equity shares were proposed to be listed on the BSE SME. Share India Capital Services Pvt.Ltd. was the book running lead manager and Maashitla Securities Pvt.Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | [.] to [.] per share |
| Lot Size | |
| Sale Type | Fresh Capital |
| Reserved for Market Maker | 1,95,600 shares (aggregating up to ₹[.] Cr) |
| Net Offered to Public | 37,68,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,05,20,000 shares |
| Share Holding Post Issue | 1,42,88,000 shares |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Sat, Sep 28, 2024 |
| Offer document withdrawn | Mon, Mar 24, 2025 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in, 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, with lighting contributing only 4.16% of total turnover as of March 31, 2024.
Business Model:
Product:
Ason 31 July 2024, the company has 38 employees.
Competitve Strengths:
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 49.18 | 51.67 | 19.11 |
| Total Income | 92.15 | 53.11 | 37.12 |
| Profit After Tax | 9.89 | 0.86 | 0.91 |
| Net Worth | 21.05 | 11.14 | 9.78 |
| Reserves and Surplus | 19.8 | 9.89 | 8.53 |
| Total Borrowing | 4.57 | 4.75 | 7.75 |
| Amount in ₹ Crore | |||
| KPI | Values |
|---|---|
| ROE | 46.99% |
| ROCE | 56.00% |
| Debt/Equity | 0.22 |
| RoNW | 69.05% |
| PAT Margin | 10.95% |
The Company GRE Renew Enertech IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Investments in and providing finance to the Wholly Owned Subsidiary - GRE Green Energy Private Limited for development of 20.09 MW (DC) RESCO Project | 342.76 |
| 2 | General corporate purposes |
GRE Renew Enertech Ltd.
Plot no. 423,
G.I.D.C.-II
Dediyasan
Mehsana, Gujarat, 384002
Phone: +91 9974039300
Email: cs@greindia.com
Website: https://greindia.com/
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
GRE Renew Enertech IPO is a SME IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at . The minimum order quantity is .
The GRE Renew Enertech IPO open and close dates are not available as of now.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in GRE Renew Enertech IPO using UPI as a payment gateway. Zerodha customers can apply in GRE Renew Enertech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GRE Renew Enertech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The GRE Renew Enertech IPO dates are not announced. Please check back again after some time.
GRE Renew Enertech IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in GRE Renew Enertech 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 GRE Renew Enertech IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the GRE Renew Enertech IPO allotment status.
The GRE Renew Enertech IPO listing date is not yet announced. The tentative date of GRE Renew Enertech IPO listing is [.].
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