Ahmedabad, January 17, 2026: The SME IPO of GRE Renew Enertech Limited concluded on Friday with a robust overall subscription of 15.43 times, supported by strong demand across all investor categories. The issue, priced at ₹105 per share, also saw sustained interest in the grey market, with the GMP holding at ₹6 as of early Friday.
Final bidding data shows aggressive participation from non-institutional investors and solid interest from qualified institutional buyers, while retail demand also closed at healthy double-digit levels.
Price-Wise Demand at Close
At the end of bidding on January 16, cumulative bids were concentrated across the entire price band, with demand remaining evenly distributed.| Price (₹) | Quantity Bid (Shares) |
|---|---|
| 100.00 | 4,17,58,800 |
| 101.00 | 4,16,96,400 |
| 102.00 | 4,16,89,200 |
| 103.00 | 4,16,77,200 |
| 104.00 | 4,16,60,400 |
| 105.00 | 4,16,41,200 |
Category-Wise Final Subscription Status
The final demand schedule reflects broad-based participation, with the non-institutional segment emerging as the most aggressive bidder.| Category | Shares Reserved | Applications | Shares Bid | Subscription (x) |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 7,14,000 | 6 | 1,04,85,600 | 14.69x |
| Non-Institutional Investors (Total) | 7,32,000 | 1,909 | 1,35,13,200 | 18.46x |
| • NII > ₹10 lakh | 3,60,000 | 1,029 | 1,02,69,600 | 28.53x |
| • NII ≤ ₹10 lakh | 1,80,000 | 880 | 32,43,600 | 18.02x |
| Retail Individual Investors | 12,60,000 | 7,400 | 1,77,60,000 | 14.10x |
| Total | 27,06,000 | 9,315 | 4,17,58,800 | 15.43x |
Grey Market Premium Trend
In the unofficial market, GRE Renew Enertech SME IPO was quoting at a GMP of ₹6 per share, unchanged from the previous session. Based on the GMP, the estimated listing price is indicated around ₹111, translating into a potential gain of 5.71 percent over the issue price.| Date | IPO Price (₹) | GMP (₹) | Estimated Listing Price (₹) | Est. Gain per Lot |
|---|---|---|---|---|
| Jan 17, 2026 | 105 | 6 | 111 (5.71%) | ₹7,200 |
| Jan 16, 2026 (Close) | 105 | 6 | 111 (5.71%) | ₹7,200 |
| Jan 15, 2026 | 105 | 7 | 112 (6.67%) | ₹8,400 |
Important Note on GMP
The GMP figures are only indicative of unofficial grey market activity and are shared strictly for news and informational purposes. We do not trade or deal in the grey market, do not participate in sub2 or sauda rates, and do not recommend investment or trading decisions based on GMP data. Grey market premiums are speculative and can change rapidly.Issue Snapshot
The IPO was open for subscription from January 13 to January 16, 2026, comprising 37.68 lakh equity shares with a face value of ₹10 each. The minimum application size was 2,400 shares, with a market lot of 1,200 shares. The issue was managed by Share India Capital Services Private Limited.About the Company
GRE Renew Enertech Limited operates in the renewable energy segment, with activities spanning LED lighting solutions, solar lighting systems, power products, and renewable energy project development and EPC services. The company caters to both manufacturing and execution-led renewable energy requirements across multiple geographies in India.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.