Free Offer
Open Demat FREE
Apply in Infrax Renewable Ltd IPO via ASBA / UPI
₹0 Opening Digital KYC 1-Click Apply
SEBI Regulated · 100% Secure · Under 5 Min
Home All IPOs Infrax Renewable Ltd IPO
Infrax Renewable Ltd IPO
BSE SME Fixed Price IPO Fresh capital cum OFS Closed
GMP +₹1 +0.96% Est. Listing ₹105 P&L/Lot +₹1,200
Issue Price
₹104
Face ₹10
GMP
+₹1
+0.96% premium
Est. Listing
₹105
GMP based
Subscribed
2.05
⚠️ Moderate
Min Amount
₹124,800
1 lot · 1,200 shares
Lot Size
1,200
shares / lot
Allotment
Important Dates
2/6 completed
Open
Close
Allotment
Refund
Demat
Listing
Done
Open Date
09 Sep 2026
Wed Completed
Done
Close Date
11 Sep 2026
Fri Completed
Soon
Allotment
15 Sep 2026
Tue Upcoming
Soon
Refund
16 Sep 2026
Wed Upcoming
Soon
Demat Credit
16 Sep 2026
Wed Upcoming
Soon
Listing Date
17 Sep 2026
Thu Upcoming
Issue Details
Pricing & Size
Issue Price
₹104 Face ₹10
Lot Size
1,200 shares
Min Investment
₹124,800
Total Issue Size
39,31,200 shares (agg. up to ₹41 Cr)
IPO Information
Issue Type
Fixed Price IPO
Sale Type
Fresh capital cum OFS
Listing Exchange
BSE SME
Script / Ticker
-
Allocation Breakdown
Market Maker
1,99,200
QIB Portion
-
NII / HNI
1850400.00
Retail
1881600.00
Employee
-
Net Offer to Public
37,32,000 shares (agg. up to ₹39 Cr) Share Holding Pre Issue 1,09,85,111 shares Share Holding Post Issue 1,42,35,911 shares
Shareholding Pattern
Pre-Issue Shareholding
1,09,85,111 shares
Post-Issue Shareholding
1,42,35,911 shares
Application Size
CategoryMin LotsSharesAmount
Retail (sNII) 2 2,400 ₹2,49,600
HNI / NII 3 3,600 ₹3,74,400
Objects of Issue
3 objectives
1
Funding of capital expenditure of the Company towards purchase of machineries and equipments for proposed manufacturing facility
12.29 Cr
2
Funding working capital requirements of the Company
17.00 Cr
3
General corporate purposes
2.03 Cr
Lead Managers & Market Maker
Book Running Lead Managers
Smart Horizon Capital Advisors Pvt.Ltd
Market Maker
Shreni Shares Ltd
IPO Timeline
Open
09 Sep
✓ Done
Close
11 Sep
✓ Done
Allotment
15 Sep
Upcoming
Listing
17 Sep
Upcoming
Registrar Details
Bigshare Services Pvt.Ltd
SEBI Registered Registrar & Transfer Agent
Phone
8657578989/8069219065/8069219060
Email
ipo@bigshareonline.com
Company Contact
Email
investor@infraxrenewable.com
Phone
+91 7874074000
Address
402-403, R K Prime 2 Mahapuja Dham Chok, 150 Feet Road Malviyanagar Rajkot, Gujarat, 360004
Grey Market Premium
LIVE
Current GMP
+₹1
+0.96% vs Issue Price
Issue Price
₹104
Est. Listing
₹105
Lot Size
1,200 shares
P&L / Lot
+₹1,200
GMP is unofficial grey market data. Does not guarantee listing price or returns.
GMP Return Calculator
Estimated Listing
GMP %
Investment (1 Lot)
Total Investment
Expected P&L
ROI
2.05
Overall Sub.
⚠️ Moderate
1.90
Retail
Category-wise Subscription
Category Sub (×) Offered Bid For Amt (Cr)*
QIB
NII / HNI (Total) 1.39× 18,50,400 25,77,600 ₹26.81 Cr
Retail Investors 1.90× 18,81,600 35,66,400 ₹37.09 Cr
Total ** 2.05× 37,32,000 76,33,200 ₹79.39 Cr
Market Maker * 1,99,200 1,99,200 ₹2.07 Cr
* Based on ₹104.00 (upper price band)
NII / HNI Breakdown
Shares Reserved
NII
18,50,400
Retail
18,81,600
Market Maker
1,99,200
* Shares Offered and Total Amount are indicative. ** Excluding Market Maker portion. Data sourced from exchange bidding platform.
Financial Summary
Amount in ₹ Crore
Metric31 Mar 202631 Mar 202531 Mar 2024
Revenue4.4030.489.66
PAT10.202.850.96
EBITDA14.564.501.76
Net Worth15.771.891.40
Total Assets31.538.244.40
Reserves14.520.89
Borrowings6.993.02
Key Financial Ratios
115.54
ROE
Return on Equity
63.89
ROCE
Return on Capital Employed
64.68
RONW
Return on Net Worth
10.94
PAT Margin
PAT / Revenue
15.62
EBITDA Mgn
EBITDA / Revenue
0.44
D/E Ratio
Debt to Equity
6.59
P/BV
Price to Book Value
9.29
Pre EPS
EPS Pre-Issue
7.17
Post EPS
EPS Post-Issue
11.19
Pre P/E
P/E Pre-Issue
14.5
Post P/E
P/E Post-Issue
About Infrax Renewable Ltd

Incorporated in September 2024, Infrax Renewable Limited is a solar energy company engaged in providing Engineering, Procurement and Construction (EPC) services for rooftop and ground-mounted solar power projects. The company also supplies a wide range of solar products, including solar PV modules, inverters, and related equipment, and operates as an Independent Power Producer (IPP) through its own solar power plant in Gujarat under a Power Purchase Agreement (PPA) with PGVCL.

Business Operations:

  • EPC Services: They provide end-to-end solar EPC services, including project design, engineering, procurement, installation, testing, commissioning, O&M, and regulatory assistance. Our projects include rooftop solar projects for residential customers and ground-mounted projects for commercial customers.
  • Independent Power Producer (IPP) They operate as an Independent Power Producer by generating and selling electricity to Paschim Gujarat Vij Company Limited (PGVCL) under a 25-year Power Purchase Agreement. In 2026, we commissioned a 1.2 MW solar power plant at Bhadla, Jasdan, Rajkot, Gujarat.
  • Sale of Solar Products They also supply various solar products, including Solar PV Modules, Solar PV Inverters, and other solar products. Our PV modules include both polycrystalline and monocrystalline panels, sourced domestically and internationally.

The company offers end-to-end solar solutions covering project design, engineering, procurement, installation, testing, commissioning, and operation & maintenance (O&M) services. It serves customers across residential, commercial, and industrial segments through an extensive dealer network and has been empanelled as a national vendor under the PM Surya Ghar: Muft Bijli Yojana. Infrax currently operates warehouses in Rajkot, Ahmedabad, and Kanpur, along with branch offices across Gujarat, Maharashtra, Madhya Pradesh, and Uttar Pradesh, with services supplied across multiple Indian states.

As of March 31, 2026, the team comprised 52 permanent employees.

Competitive Strengths:

  • Proven track record in executing solar EPC projects.
  • Diversified business model with EPC, solar product distribution, and IPP operations.
  • Empanelled vendor under PM Surya Ghar: Muft Bijli Yojana.
  • Strong customer, supplier, and dealer network across multiple states.
  • Strategic warehouse and branch office presence supporting efficient project execution.
  • ISO 9001:2015 certified quality management system.
  • Plans for backward integration through in-house solar component manufacturing and recycling.
  • Experienced promoter team with over 17 years of industry experience.
Frequently Asked Questions
What is the issue price of Infrax Renewable Ltd IPO?
The issue price of Infrax Renewable Ltd IPO is ₹104 per share, face value ₹10.
What is the lot size?
Minimum lot size is 1,200 shares, requiring ₹124,800.
What are the IPO dates?
Opens 09 Sep 2026, closes 11 Sep 2026.
When is the listing date?
Tentative listing: 17 Sep 2026 on BSE SME.
What is the current GMP?
Current GMP is +₹1, estimated listing ₹105 (+0.96%). GMP is unofficial.
How to apply?
Apply via ASBA through your bank, or via UPI through any broker app.

Check Allotment Status

Infrax Renewable Ltd IPO · Expected 15 Sep 2026

Check on Registrar
Post-IPO Timeline
Allotment Date
15 Sep 2026
Refund Initiation
16 Sep 2026
Demat Credit
16 Sep 2026
Listing Date
17 Sep 2026
Quick Facts
Closed
GMP Signal
Bullish
+₹1
+0.96%
Issue Price
₹104
Face ₹10
Lot Size
1,200
shares / lot
Min Amount
₹124,800
1 lot
Est. Listing
₹105
GMP +₹1
Subscription
Overall2.05×
NII1.39×
Retail1.90×
Key Dates
Open
09 Sep Done
Close
11 Sep Done
Listing
17 Sep Soon
Registrar
Bigshare Services Pvt.Ltd
A
Sponsored
₹0 AMC · Apply IPOs via UPI
SEBI Regulated · Digital KYC in 5 min