The scrip was listed at Rs 96, a discount of 8.57% compared with the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.
The counter hit a high of Rs 99 and a low of Rs 91.20. About 9.26 lakh shares of the company changed hands at the counter.
GRE Renew Enertech's IPO was subscribed 15.43 times. The issue opened for bidding on 13 January 2026 and it closed on 16 January 2026. The price band of the IPO was set at Rs 100 to Rs 105 per share.
The IPO comprised fresh issue of 37,68,000 equity shares. The company intends to utilised the net proceeds for setting up of 7.20 MW (AC) / 9.99 MW (DC) ground mounted solar power plant and general corporate purposes.
Ahead of the IPO, GRE Renew Enertech 12 January 2025, raised Rs 11.15 crore from anchor investors. The board allotted 10.62 lakh shares at Rs 105 each to 9 anchor investors.
GRE Renew Enertech provides solar energy solutions to industrial and commercial customers through two operating models: CAPEX and RESCO. Under the CAPEX model, customers fund the project while the company handles engineering, procurement, construction and operations. Under the RESCO model, GRE Renew Enertech develops, owns and operates solar projects, supplying power to consumers at pre-agreed tariffs while retaining ownership of the assets, including rooftop installations and proposed ground-mounted projects. The company is planning to develop a 7.20 MW (AC) or 9.99 MW (DC) ground-mounted solar power project as part of its expansion under the RESCO model. As of 30 September 2025, the company had employed 48 employees.
The company recorded revenue from operations of Rs 43.80 crore and net profit of Rs 4 crore for the period ended 30 September 2025.