Mehsana-headquartered GRE Renew Enertech Limited (GRE) today announced that it has received an in-principle approval from BSE for its proposed initial public offering (IPO).

GRE had filed the necessary documents with BSE in September 2025 to initiate its SME IPO on the BSE SME platform.

As disclosed in the DRHP, the company proposes to issue up to 37, 68,000 equity shares of face value of Rs. 10 in the IPO. The company is currently in the process of filing the Red Herring Prospectus (RHP) with updated information in connection with its proposed initial public offering and listing, subject to regulatory approvals.

The company provides on-site solar energy solutions primarily for commercial and industrial (C&I) and institutional applications under EPC and RESCO models, including ground-mounted solar projects executed using shared infrastructure where applicable.

As per the DRHP, the company plans 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, GRE Renew Enertech Limited recorded approximately Rs. 83.72 crore in revenues from operations and a profit (PAT) of Rs. 7.03 crore.