Infrax Renewable IPO
Infrax Renewable IPO Details
-
Open Date
09 Sep 2026
-
Close Date
11 Sep 2026
- IPO Price Range
₹ 104
- IPO Size
₹ 40.88 Cr
Infrax Renewable IPO Timeline
Infrax Renewable IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 09-Sep-2026 | - | 0.01 | 0.16 | 0.08 |
| 09-Sep-2026 | - | 0.03 | 0.39 | 0.21 |
Last Updated: 11 September 2026 6:37 PM by 5paisa
Infrax Renewable Limited is a solar energy company providing EPC services for rooftop and ground-mounted solar projects across residential, commercial and industrial segments. Its operations include project design, procurement, installation, commissioning, O&M and regulatory support. The company also supplies solar PV modules, inverters and related equipment. Additionally, it operates a 1.2 MW solar power plant in Gujarat under a 25-year PPA and maintains a multi-state dealer and distribution network.
Established in: 2024
Managing Director: Mr. Bhargv Ashvinbhai Vachhani
Infrax Renewable Objectives
1. Funding of capital expenditure of the Company towards purchase of machineries and equipments for proposed manufacturing facility
2. Funding working capital requirements of the Company
3. General corporate purposes
4. Issue Expenses
Infrax Renewable IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹40.88 Cr |
| Offer For Sale | ₹7.08 Cr |
| Fresh Issue | ₹33.81 Cr |
Infrax Renewable IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 2,49,600 |
| Retail (Max) | 2 | 2,400 | 2,49,600 |
| S-HNI (Min) | 3 | 3,600 | 3,74,400 |
Infrax Renewable IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| NII | 0.03 | 18,50,400 | 56,400 | 0.59 |
| Retail | 0.39 | 18,81,600 | 7,41,600 | 7.71 |
| Total** | 0.21 | 37,32,000 | 7,98,000 | 8.30 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 9.65 | 30.47 | 93.21 |
| EBITDA | 1.76 | 4.50 | 14.56 |
| PAT | 0.96 | 2.85 | 10.20 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 4.40 | 8.24 | 31.53 |
| Share Capital | 1.40 | 1.00 | 1.25 |
| Total Liabilities | 4.40 | 8.24 | 31.53 |
| Particulars (In ₹Crores.) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | 1.67 | 0.24 | -2.70 |
| Net Cash Generated From / (used in) Investing Activities | -0.24 | -0.34 | -4.74 |
| Net Cash Generated From / (used in) Financing Activities | -1.01 | 0.46 | 7.11 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.42 | 0.37 | -0.33 |
Strengths
1. Integrated solar EPC and product supply capabilities
2. Diversified presence across multiple Indian states nationwide
3. Long-term PPA provides stable power generation revenues
4. Empanelled vendor under PM Surya Ghar scheme
Weaknesses
1. Relatively small scale of power generation operations
2. Dependence on third-party suppliers for solar products
3. Operations remain concentrated within selected geographical markets
4. EPC revenues depend heavily on project execution
Opportunities
1. Rising adoption of rooftop solar across India
2. Government incentives supporting residential solar installations nationwide
3. Expanding commercial demand for renewable energy solutions
4. Scope to increase IPP generation capacity further
Threats
1. Intense competition across India’s solar energy sector
2. Fluctuating solar equipment prices may affect margins
3. Regulatory changes could impact solar project economics
4. Supply chain disruptions may delay project execution
1. Integrated presence across solar EPC and distribution
2. Long-term PPA supports stable power generation revenues
3. Multi-state network strengthens customer reach and accessibility
4. Government solar initiatives offer significant growth opportunities
India’s renewable energy sector continues to expand, supported by rising electricity demand, government initiatives and increasing adoption of clean energy solutions. Infrax Renewable is positioned to benefit through its integrated EPC services, solar product distribution and IPP operations. Its national vendor empanelment, multi-state presence and dealer network could support wider market penetration. Growing rooftop and commercial solar installations may provide further opportunities to expand projects, revenues and generation capacity over time.
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FAQs
Infrax Renewable IPO opens from September 9 , 2026 to September 11, 2026.
The size of Infrax Renewable IPO is approximately ₹40.88 crore.
The price band of Infrax Renewable IPO is fixed at ₹104 per share.
To apply for Infrax Renewable IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Infrax Renewable IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 2,400 shares, requiring an investment of approximately ₹2,49,600.
The share allotment date of Infrax Renewable IPO is September 15, 2026.
The Infrax Renewable IPO will likely be listed on September 17, 2026.
Smart Horizon Capital Advisors Pvt.Ltd is the book-running lead manager.
1. Funding of capital expenditure of the Company towards purchase of machineries and equipments for proposed manufacturing facility
2. Funding working capital requirements of the Company
3. General corporate purposes
4. Issue Expenses