
Infrax Renewable IPO
ListedBSE SMEListing at: BSE SME • 402-403, R K Prime 2Mahapuja Dham Chok, 150 Feet RoadMalviyanagarRajkot, Gujarat, 360004
Disclaimer: GMP values change dynamically. This data is strictly for educational purposes only and not an investment advice.
Infrax Renewable IPO GMP History
Genuine daily snapshots retained by the WeeStox backendDisclaimer: GMP values change dynamically. This data is strictly for educational purposes only and not an investment advice.
| GMP date | IPO price | GMP | Premium | Est. profit / lot | Subscription | Movement |
|---|---|---|---|---|---|---|
| 20 Sept 2026 | ₹104 | ₹0 | 0.00% | +₹0 | 2.05x | Flat |
| 14 Sept 2026 | ₹104 | ₹0 | 0.00% | +₹0 | 2.05x | Flat |
| 10 Sept 2026 | ₹104 | ₹0 | 0.00% | +₹0 | 0.21x | Flat |
| 09 Sept 2026 | ₹104 | ₹0 | 0.00% | +₹0 | 0.08x | Flat |
| 07 Sept 2026 | ₹104 | ₹0 | 0.00% | +₹0 | - | Flat |
| 05 Sept 2026 | ₹104 | ₹0 | 0.00% | +₹0 | - | Flat |
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Infrax Renewable IPO Details
| IPO Date | 09 Sept 2026 to 11 Sept 2026 |
| Listing At | BSE SME |
| Face Value | ₹10 per share |
| Price Band | ₹104 |
| Lot Size | 1200 Shares |
| Total Issue Size | ₹40.88 Cr(₹1,255.57 Cr) |
| Fresh Issue | 32.51L shares (₹33.81 Cr) |
| Offer for Sale (OFS) | ₹7.08 Cr (approx 2.74 Cr shares) |
| Issue Type | SME Issue |
Infrax Renewable IPO Timetable
| IPO Open Date | 09 Sept 2026 |
| IPO Close Date | 11 Sept 2026 |
| Basis of Allotment | 15 Sept 2026 |
| Initiation of Refunds | 15 Sept 2026 |
| Credit of Shares to Demat | 15 Sept 2026 |
| Listing Date | 17 Sept 2026 |
| Cut-off time for UPI Mandate | 5 PM on 11 Sept 2026 |
| Employee Discount | ₹20.00/share (Up to 52,083 shares) |
Infrax Renewable IPO Reservation
| Category | Reservation | Shares Offered |
|---|---|---|
| NII (HNI) Shares Offered | 49.58% | 18,50,400 |
| Retail Shares Offered | 50.42% | 18,81,600 |
| Market Maker Shares Offered | – | 1,99,200 |
Infrax Renewable Anchor Details
Infrax Renewable IPO Lot Size
| Application | Lots | Shares | Amount (Cut-off) | Reserved Applications |
|---|---|---|---|---|
| INDIVIDUAL | 2 Lots | 2400 Shares | ₹2,49,600 | 784 |
| HNI | 3 Lots | 3600 Shares | ₹3,74,400 | 514 |
Infrax Renewable Promoter Holding
| Pre-Issue Holding | Disclosed in RHP |
| Post-Issue Holding | To be calculated |
Infrax Renewable IPO Live Subscription Status
Bidding demand breakdown by shares, institutional demand in ₹ Cr, applications & HNI funding cost| Investor Category | Shares Offered | Shares Bidded | Subscription Times |
|---|---|---|---|
| HNIs | 18,50,400 | 40,66,800 | 2.20x |
| Individual | 18,81,600 | 35,66,400 | 1.90x |
| Total | 37,32,000 | 76,33,200 | 2.05x |
Infrax Renewable Limited Financial Information (Restated Consolidated in ₹ Crores)
| Period Ended | Assets | Total Income | Profit After Tax | EBITDA | Net Worth | Total Borrowing |
|---|---|---|---|---|---|---|
| 30 Mar 2026 | ₹31.53 Cr | ₹93.33 Cr | ₹10.20 Cr | ₹14.56 Cr | ₹15.77 Cr | ₹6.99 Cr |
| 30 Mar 2025 | ₹8.24 Cr | ₹30.48 Cr | ₹2.85 Cr | ₹4.50 Cr | ₹1.89 Cr | ₹3.02 Cr |
| 30 Mar 2024 | ₹4.40 Cr | ₹9.66 Cr | ₹0.96 Cr | ₹1.76 Cr | ₹1.40 Cr | – |
Infrax Renewable Key Valuation & Financial KPIs
Infrax Renewable IPO Analysis
Review the company's key advantages and material business risks.
Strengths & Positives
Competitive advantages and operational merits
Infrax Renewable Limited was originally formed as a partnership firm under the name “Infrax International” pursuant to a partnership deed dated April 27, 2019, as amended from time to time. Subsequently, it was converted into a Public Limited Company named “Infrax Renewable Limited”, with a fresh Certificate of Incorporation issued on September 23, 2024 by the Registrar of Companies, Central Registration Centre.
Infrax Renewable Limited is a renewable energy EPC provider offering customized and high-performance solar solutions based on customers’ energy requirements. Supported by industry-certified engineers and manufacturing expertise, the Company uses quality products and cost-effective engineering to deliver efficient solar projects. It also provides warranties and customer support for its installations.
The Company provides expert solar EPC and installation services, with experienced and certified technicians ensuring safe, proper and optimized installation for efficient energy generation. It also offers 24/7 dedicated technical support for quick and reliable assistance.
The Company has developed dealer partnerships by offering competitive commission rates, supporting channel partners in achieving financial stability and scaling their operations. It also provides flexible financing options through leading national banks and NBFCs, including zero upfront costs, low-interest rates, rapid approvals and extended repayment terms.
stablished Solar EPC Track Record: Provides turnkey solar solutions covering design, engineering, procurement, construction, testing, commissioning and comprehensive O&M for rooftop residential and ground-mounted solar projects.
Strong Customer Relationships: A strong customer base supported by dealers and third-party partners generates recurring business. Timely delivery and quality have helped build strong relationships and repeat business despite no long-term supply agreements.
Financial Stability through IPP Model: The IPP model under a Power Purchase Agreement (PPA) provides a steady and reliable long-term revenue stream. Selling electricity directly to the government supports consistent cash flows and financial stability, enabling further growth and expansion.
Dependence on Government Policies & Subsidies: The Company depends on government policies, subsidies, incentives and regulatory support for solar adoption. Any withdrawal, reduction, delay or adverse change may reduce demand, profitability and adversely affect business, cash flows and financial condition.
Dependence on Dealers: A significant portion of revenue comes through dealers, who contribute to lead generation, customer acquisition and market opportunities. Any decline in sales or revenue from a dealer may adversely affect business and results of operations.
Dependence on Rented Premises: The Company does not own its registered office and warehouses. Non-renewal or termination of rent agreements or disputes over their use may require relocation, causing operational disruption and temporary impact on business activities.
About Infrax Renewable Limited
Infrax Renewable IPO is a fixed issue price of ₹40.88 crores. The issue is a combination of fresh issue of 32.51 lakh shares aggregating to ₹33.81 crores and offer for sale of 6.80 lakh shares aggregating to ₹7.08 crores.Infrax Renewable IPO bidding opened for subscription on Sep 9, 2026 and will close on Sep 11, 2026. The allotment for the Infrax Renewable IPO is expected to be finalized on Sep 15, 2026. Infrax Renewable IPO will list on the BSE SME with a tentative listing date fixed as Sep 17, 2026.Infrax Renewable IPO is set final issue price at ₹104 per share. The lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,49,600 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,74,400.Smart Horizon Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd.Refer to Infrax Renewable IPO DRHP for detailed Information.
Shariah Compliance Screening (AAOIFI Standard 21)
Infrax Renewable IPO Documents & Reports
Official prospectus, reports and regulatory filings| Document Title | Authority / Host | Status | Action |
|---|---|---|---|
Red Herring Prospectus (RHP) Complete offer document filed with ROC & SEBI | SEBI / ROC | Available | Pending |
Draft Red Herring Prospectus (DRHP) Initial regulatory draft submitted for public comments | SEBI Filings | Filed | View DRHP |
Anchor Investor Allocation Report Allotment list to institutional bidders | BSE / NSE Circular | N/A | Not Applicable |
IPO Allotment Status & Basis of Allotment Registrar query portal via PAN / Application No. | Bigshare Services | Live Portal | Check Allotment |
Corporate Website & Investor Relations Official portal and financial reports | Issuer Portal | Active | Visit Portal |
Infrax Renewable IPO Registrar & Lead Managers
- Smart Horizon Capital Advisors Pvt.Ltd.
402-403, R K Prime 2Mahapuja Dham Chok, 150 Feet RoadMalviyanagarRajkot, Gujarat, 360004