Ahmedabad, January 21, 2026 (Wednesday): GRE Renew Enertech Limited (BSE SME: GRERENEW) made a muted debut on the BSE SME platform on Wednesday, with its shares listing at ₹96 apiece, marking a discount of 8.57 percent to the IPO issue price of ₹105 per share.
The subdued listing came despite strong subscription numbers during the IPO bidding period, reflecting cautious sentiment in the SME secondary market at the time of debut.
Listing Day Performance
The stock opened at ₹96, matching its listing price. During early trade, shares moved within a narrow range, touching an intra-day high of ₹99 and slipping to a low of ₹93.As of 10:02 AM IST, the stock was trading at ₹93, down ₹12 or 11.43 percent from the issue price and ₹3 or 3.13 percent lower compared to the previous close.
| Particulars | Details |
|---|---|
| Issue Price | ₹105 |
| Listing Price | ₹96 |
| Discount to Issue Price | 8.57% |
| Day’s High | ₹99 |
| Day’s Low | ₹93 |
| Previous Close | ₹105 |
| VWAP | ₹96 |
IPO Subscription Recap
The SME IPO, which closed on January 16, 2026, received a strong overall subscription of 15.43 times, driven by healthy demand across investor categories.| Category | Subscription |
|---|---|
| Qualified Institutional Buyers | 14.69x |
| Non-Institutional Investors | 18.46x |
| Retail Individual Investors | 14.10x |
| Overall | 15.43x |
Grey Market Indications Versus Listing
Ahead of listing, the IPO was quoting at a grey market premium of around ₹6 per share, indicating a notional listing near ₹111. The actual debut at ₹96, however, undershot these indications, highlighting volatility and selling pressure in stock.Post-Listing Market Metrics
Exchange data showed the company’s full market capitalisation at ₹137.16 crore, with a free-float market capitalisation of ₹25.98 crore. The stock trades in the MT / T+1 settlement group with a 5 percent price band.| Metric | Value |
|---|---|
| Full Market Capitalisation | ₹137.16 crore |
| Free-Float Market Cap | ₹25.98 crore |
| Turnover | ₹6.48 crore |
| Traded Quantity | 6.76 lakh shares |
| Face Value | ₹10 |
About the Company
GRE Renew Enertech Limited operates in the renewable energy and infrastructure segment, with business activities covering LED lighting solutions, solar lighting systems, power products, and renewable energy project development and EPC services. For exchange classification purposes, the company falls under the civil construction industry.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.