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Greenleaf Envirotech Ltd. IPO is a fixed price issue of ₹21.90 crores. The issue is a combination of fresh issue of 0.13 crore shares aggregating to ₹17.82 crores and offer for sale of 0.03 crore shares aggregating to ₹4.08 crores.
Greenleaf Envirotech IPO bidding started from Sep 30, 2025 and ended on Oct 6, 2025. The allotment for Greenleaf Envirotech IPO was finalized on Oct 7, 2025. The shares got listed on NSE SME on Oct 9, 2025.
Greenleaf Envirotech IPO price is ₹136.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000.00 (2,000 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,000 shares), amounting to ₹4,08,000.
Smart Horizon Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Greenleaf Envirotech IPO DRHP for detailed Information.
| IPO Date | September 30, 2025 to October 6, 2025 |
| Listing Date | October 9, 2025 |
| Face Value | ₹10 per share |
| Issue Price Final | ₹136 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 16,10,000 shares (aggregating up to ₹21.90 Cr) |
| Reserved for Market Maker | 84,000 shares Rikhav Securities Ltd. (aggregating up to ₹1.14 Cr) |
| Fresh Issue (Ex Market Maker) | 12,26,000 shares (aggregating up to ₹16.67 Cr) |
| Offer for Sale | 3,00,000 shares of ₹10 (aggregating up to ₹4.08 Cr) |
| Net Offered to Public | 15,26,000 shares (aggregating up to ₹20.75 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 46,19,250 shares |
| Share Holding Post Issue | 59,29,250 shares |
Greenleaf Envirotech IPO offers total 16,10,000 shares. Out of which 7,48,000 (46.46%) allocated to NII 7,78,000 (48.32%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 84,000 (5.22%) |
| NII (HNI) Shares Offered | 7,48,000 (46.46%) |
| Retail Shares Offered | 7,78,000 (48.32%) |
| Total Shares Offered | 16,10,000 (100.00%) |
Greenleaf Envirotech IPO opens on September 30, 2025, and closes on October 6, 2025.
| IPO Open Date | Tue, Sep 30, 2025 |
| IPO Close Date | Mon, Oct 6, 2025 |
| Tentative Allotment | Tue, Oct 7, 2025 |
| Initiation of Refunds | Wed, Oct 8, 2025 |
| Credit of Shares to Demat | Wed, Oct 8, 2025 |
| Tentative Listing Date | Thu, Oct 9, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Oct 6, 2025 |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,72,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,72,000 |
| HNI (Min) | 3 | 3,000 | ₹4,08,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Greenleaf Envirotech Limited provides comprehensive Engineering, Procurement, and Construction (EPC) and turnkey solutions for Wastewater Treatment (WWT) projects, with a strong focus on Sewage Treatment Plants (STPs) and Effluent Treatment Plants (ETPs). It offers comprehensive services from designing, engineering, procurement, supply, installation and testing to operation & maintenance services.
Key business segments:
The company has a state-of-the art laboratory and consulting facility in Surat, Gujarat. In the last 3 fiscal years, the company has successfully executed 31 Turnkey/EPCC basis worth Rs 6,616.18 lakhs. As of May 31, 2025, the company is executing 17 WWT projects (13 Turnkey/ EPCC basis and 4 O&M basis) and have 2 upcoming projects across various states of Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, Karnataka, Assam and Himachal Pradesh.
Competitive Strengths
Greenleaf Envirotech Limited's revenue increased by 20% and profit after tax (PAT) rose by 106% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 25.38 | 15.74 | 12.74 |
| Total Income | 39.08 | 32.64 | 26.58 |
| Profit After Tax | 4.70 | 2.28 | 0.97 |
| EBITDA | 6.62 | 3.66 | 2.09 |
| Net Worth | 12.41 | 7.71 | 2.62 |
| Reserves and Surplus | 7.79 | 3.09 | 1.12 |
| Total Borrowing | 2.49 | 5.13 | 6.12 |
| Amount in ₹ Crore | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 46.68% |
| ROCE | 45.01% |
| Debt/Equity | 0.20 |
| RoNW | 37.84% |
| PAT Margin | 12.09% |
| EBITDA Margin | 17.05% |
| Price to Book Value | 5.06 |
| Market Capitalization | 80.64 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 10.17 | 7.92 |
| P/E (x) | 13.38 | 17.17 |
The Company Greenleaf Envirotech IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding of capital expenditure of our Company towards purchase of civil machines and equipments | 1.86 |
| 2 | Funding of capital expenditure of our Company towards purchase of laboratory equipments | 0.35 |
| 3 | Repayment or prepayment, in full or in part, of borrowings availed by our Company from banks, financial institutions and non-banking financial companies | 1.35 |
| 4 | Funding working capital requirements of our Company | 9.00 |
| 5 | General corporate purposes | 2.66 |
[Dilip Davda] GEL is majorly engaged in providing EPC and turnkey solutions for waste water treatment such as STPs, ETPs. The company marked growth in its top and bottom lines for the reported periods. It is operating in a highly competitive and fragmented segment. Based on its recent financial data, the issue appears aggressively priced. Small paid-up equity base post-IPO indicates longer gestation period. Only well-informed/cash surplus investors may park moderate funds for long term. Read detail review...
| Listing Date | October 9, 2025 |
| BSE Script Code | |
| NSE Symbol | GREENLEAF |
| ISIN | INE0PLX01017 |
| Final Issue Price | ₹136 per share |
| NSE Listing Group | ST (Trade to Trade) |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹136.00 |
| Open | ₹134.90 |
| Low | ₹128.15 |
| High | ₹134.90 |
| Last Trade | ₹132.90 |
Greenleaf Envirotech Ltd.
3rd Floor, Room No. 4, Plot No. 27-35
Kankavati Complex, Nandanvan Group H
Soc., Singanpore Road, Surat City
Surat, Gujarat, 395004
Phone: +91-9714888033
Email: cs.greenleaf@greenleafenvirotech.in
Website: http://www.greenleafenvirotech.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: greenleaf.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Greenleaf Envirotech IPO is a SME IPO of 16,10,000 equity shares of the face value of ₹10 aggregating up to ₹21.90 Crores. The issue is priced at ₹136 per share. The minimum order quantity is 1000.
The IPO opens on September 30, 2025, and closes on October 6, 2025.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Greenleaf Envirotech IPO using UPI as a payment gateway. Zerodha customers can apply in Greenleaf Envirotech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Greenleaf Envirotech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Greenleaf Envirotech IPO opens on September 30, 2025 and closes on October 6, 2025.
Greenleaf Envirotech IPO lot size is 1000, and the minimum amount required for application is ₹2,72,000, with 2 lots being the minimum application size.
You can apply in Greenleaf Envirotech 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 Greenleaf Envirotech IPO will be done on Tuesday, October 7, 2025, and the allotted shares will be credited to your demat account by Wednesday, October 8, 2025. Check the Greenleaf Envirotech IPO allotment status.
The Greenleaf Envirotech IPO listing date is on Thursday, October 9, 2025.
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