GRE Renew Enertech Receives IPO Approval in Principle from BSE SME; Plans 7.2 MW Solar Project

GRE Renew Enertech Limited has announced that it has received in-principle approval from the Bombay Stock Exchange (BSE) for its proposed initial public offering (IPO).

The company had filed the necessary documents with BSE in September 2025 to launch its SME IPO on the BSE SME platform. As outlined in the Draft Red Herring Prospectus (DRHP), GRE plans to issue up to 37,68,000 equity shares with a face value of ₹10 each. The company is currently in the process of filing the Red Herring Prospectus (RHP) with updated information for its proposed listing, subject to regulatory approvals.

Headquartered in Mehsana, GRE Renew Enertech provides on-site solar energy solutions primarily for commercial & industrial (C&I) and institutional customers through EPC and RESCO business models. The company also undertakes ground-mounted solar projects, including those executed using shared infrastructure, where applicable.

According to the DRHP, GRE intends to utilise a portion of the IPO proceeds to develop a 7.2 MW AC ground-mounted solar power project under the RESCO model.

For the financial year ending March 31, 2025, the company reported ₹83.72 crore in revenue from operations and a profit after tax (PAT) of ₹7.03 crore.