GRE Renew Enertech IPO Receives Exceptional Response, Subscribed 16.49x on Day 3

GRE Renew Enertech Limited's initial public offering (IPO) has demonstrated exceptional investor interest through its third and final day of subscription. The stock price band is set at ₹100-105 per share. The ₹39.56 crore IPO reached 16.49 times by 4:49:54 PM on day three. This indicates exceptional investor interest in this company engaged in the business of solar energy solutions and LED lighting products.

GRE Renew Enertech IPO subscription reached exceptional 16.49 times on day three. It was led by Non-Institutional Investors (24.66x), Qualified Institutional Buyers Ex-Anchor (14.69x), and Individual Investors (14.02x). Total applications reached 9,300.

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Subscription Status of GRE Renew Enertech IPO:

Here are the subscription details for GRE Renew Enertech IPO as of Day 3 (January 16, 2026, 4:49:54 PM):

Key Highlights - Day 3:

• Overall subscription reached exceptional 16.49 times, showing extraordinary improvement from day two's 2.67 times
• Non-institutional investors displaying exceptional interest at 24.66 times, building dramatically from day two's 1.24 times, indicating very strong HNI demand for this solar energy solutions provider
• Individual investors showing exceptional confidence at 14.02 times, building substantially from day two's 0.81 times, indicating strong retail demand for this SME IPO
• Total applications reached 9,300, showing strong investor participation for this SME IPO, a significant increase from day two's applications
• Cumulative bid amount reached ₹435.38 crores, significantly exceeding the net offer size of ₹37.54 crores (excluding anchor and market maker portions) by over 11 times
• Anchor investors fully subscribed their allocation of ₹11.15 crores on January 12, 2026
• Market makers fully subscribed their allocation of ₹2.02 crores

Key Highlights - Day 2:

• Overall subscription reached moderate 2.67 times, showing modest improvement from day one's 2.26 times
• Qualified institutional buyers displaying strong performance at 7.04 times, unchanged from day one's 7.04 times
• Individual investors showing weak confidence at 0.81 times, building substantially from day one's 0.32 times
• Non-institutional investors showing moderate performance at 1.24 times, building substantially from day one's 0.48 times

Key Highlights - Day 1:

• Overall subscription reached moderate 2.26 times, showing cautious initial investor interest
• Qualified institutional buyers displaying strong performance at 7.04 times, indicating strong institutional interest
• Non-institutional investors showing weak performance at 0.48 times, indicating weak HNI appetite
• Individual investors showing weak confidence at 0.32 times, indicating weak retail interest

About GRE Renew Enertech Limited

GRE Renew Enertech Limited is engaged in the business of solar energy solutions and LED lighting products. They offer rooftop and ground-mounted solar installations, as well as indoor and outdoor LED lighting solutions. The company, originally a manufacturer of LED lighting solutions, now primarily focuses on solar energy. Business model includes CAPEX model (EPC - Engineering, Procurement and Construction) where consumers own and fund solar systems while EPC services manage engineering, procurement, construction, and commissioning, ensuring complete PV plant delivery and grid connection, and RESCO model (Opex).