GRE Renew Enertech IPO Debuts at Discount, Hits Lower Circuit on Listing Day
Business
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Moneycontrol•21-01-2026, 16:13
GRE Renew Enertech IPO Debuts at Discount, Hits Lower Circuit on Listing Day
- •GRE Renew Enertech shares listed on BSE SME at ₹96.00, an 8.57% discount from the IPO price of ₹105.00.
- •The stock hit a lower circuit of ₹91.20, closing at a 13.14% loss for IPO investors on the first trading day.
- •The ₹40 crore IPO was subscribed 16.53 times, with strong interest from QIBs, NIIs, and retail investors.
- •Funds from the IPO will primarily be used to set up ground-mounted solar power plants (₹32.61 crore).
- •GRE Renew Enertech specializes in solar energy solutions and LED lighting, operating on both CAPEX and RESCO models.
Why It Matters: Despite strong IPO subscription, GRE Renew Enertech shares listed at a discount and immediately hit the lower circuit.
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