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Infrax Renewable Ltd

Infrax Renewable Ltd

BSE SME · SME IPO
Listed BSE SME SME Live Chart
Issue Price
₹104
₹104
GMP (Grey Market)
+₹1
+0.96%
Est. Listing Price
₹105
Based on GMP
Min. Investment
₹124,800
1 lot × 1200 shares
Subscribed
2.05x
Over-subscribed
IPO Details
Open Date
09 Sep 2026
Close Date
11 Sep 2026
Allotment
15 Sep 2026
Listing Date
17 Sep 2026
Exchange
BSE SME
Price Band
₹104
Listing Price
See chart
Allotment Status
Price Band
₹104
Per share
Face Value
₹10 per share
 
Lot Size
1,200 Shares
per lot
Issue Size
39,31,200 shares (agg. up to ₹41 Cr)
Total offering
Issue Type
Fixed Price IPO
 
Min Investment
₹124,800
1 lot
Pre-IPO Holding
1,09,85,111 shares
Promoters
Post-IPO Holding
1,42,35,911 shares
Promoters
P/E (Pre)
11.19x
 
P/E (Post)
14.5x
 
EPS (Pre)
₹9.29
 
EPS (Post)
₹7.17
 
UPI Deadline
5:00 PM on 11 Sep 2026
Mandate
GMP
+₹1
+0.96% est.
Anchor AllotmentTue, 08 Sep 2026
Basis of AllotmentTue, 15 Sep 2026
Refund InitiationWed, 16 Sep 2026
Demat CreditWed, 16 Sep 2026
Listing DayThu, 17 Sep 2026
UPI Mandate Deadline5:00 PM on 11 Sep 2026
Sale TypeFresh capital cum OFS
Net Offer to Public37,32,000 shares (agg. up to ₹39 Cr) Share Holding Pre Issue 1,09,85,111 shares Share Holding Post Issue 1,42,35,911 shares
Market Maker Quota1,99,200 shares (agg. up to ₹2 Cr)
Fresh Issue Shares30,51,600 shares (agg. up to ₹32 Cr)
Offer for Sale6,80,400 shares of ₹10 (agg. up to ₹7 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
Infrax Renewable Ltd IPO subscribed 2.05 times overall. Retail: 1.90x. QIB: 1.00x. NII: 1.39x. By 11 Sep 2026.
QIB
1.00x
Over
NII/HNI
1.39x
Over
Retail
1.90x
Over
Total
2.05x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
Market Maker
Awaited
199,200
₹2.07
QIB
Over 1.00x
NII / HNI
Over 1.39x
1,850,400
₹19.24
Retail
Over 1.90x
1,881,600
₹19.57
Total 2.05x
3,732,000
100% ₹38.81
IPO Shares Offered
Infrax Renewable Ltd IPO total issue size: ₹38.81 Cr. Retail: ₹19.57 Cr. NII: ₹19.24 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
Market Maker 199,200 ₹2.07
5.34%
NII 1,850,400 ₹19.24
49.58%
Retail 1,881,600 ₹19.57
50.42%
Total 3,732,000 ₹38.81
100.00%
* Based on upper price band ₹104 per share
Basis of Allotment
QIB NII Retail Total
Ex. Anchor Anchor Total QIB Below ₹10L Above ₹10L Total NII
Allocation (shares) 1,850,400 1,881,600 3,732,000
Allotment price (₹) 104 104 104 104 104 104 104 104
No. of applications
No. of shares applied
Amount collected (₹Cr) ₹19.57 ₹19.57
Times subscribed 1 1.39x 1.90x 2.05x
Shares allotted 1,850,400 1,881,600 3,732,000
No. of allottees
* Upper price band ₹104 · ** Anchor allotment excluded from public shares
Lot Size & Investment
Lot Size
1,200
Shares per Lot
Issue Price
₹104.00
Upper Band
Min Investment
₹124,800
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)22,400₹249,600
Retail (Max — 13 Lots)1315,600₹1,622,400
S-HNI (Min — 14 Lots)1416,800₹1,747,200
B-HNI (Min — 68 Lots)6881,600₹8,486,400
* Issue Price ₹104 × Lot Size 1,200 shares
IPO Schedule
Anchor
08 Sep 2026
✓ Done
IPO Open
09 Sep 2026
✓ Done
IPO Close
11 Sep 2026
✓ Done
Allotment
15 Sep 2026
✓ Done
Refunds
16 Sep 2026
✓ Done
Demat Credit
16 Sep 2026
✓ Done
Listing Day
17 Sep 2026
✓ Done
Infrax Renewable Ltd — Live Price LIVE
₹104.00
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Issue ₹104.00 GMP: +₹1 Live Price
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.
Objects of the Issue
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
Infrax Renewable Ltd Financials (Amount in ₹ Crore)
Revenue from Operations
₹9.7
31 Mar 2024
₹30.5
31 Mar 2025
₹4.4
31 Mar 2026
Profit After Tax (PAT)
₹1.0
31 Mar 2024
₹2.9
31 Mar 2025
₹10.2
31 Mar 2026
Particulars31 Mar 202631 Mar 202531 Mar 2024
Revenue from Operations 4.40 30.48 9.66
EBITDA 14.56 4.50 1.76
Profit After Tax (PAT) 10.20 2.85 0.96
Net Worth 15.77 1.89 1.40
Total Assets 31.53 8.24 4.40
Reserves & Surplus 14.52 0.89 N/A
Borrowings 6.99 3.02 N/A
EBITDA Margin (%) 15.62
PAT Margin (%) 10.94
P/BV Ratio
6.59
RoE
115.54
RoCE
63.89
RoNW
64.68
PAT Margin
10.94
EBITDA Margin
15.62
Debt/Equity
0.44
Issue Structure & Shareholding
Total Shares OfferedN/A
Net Offer to Public37,32,000 shares (agg. up to ₹39 Cr) Share Holding Pre Issue 1,09,85,111 shares Share Holding Post Issue 1,42,35,911 shares
Reserved for Market Maker1,99,200 shares (agg. up to ₹2 Cr)
Pre-Issue Promoter Holding1,09,85,111 shares
Post-Issue Promoter Holding1,42,35,911 shares
P/BV Ratio6.59
RoE115.54
RoCE63.89
Debt / Equity0.44
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
Smart Horizon Capital Advisors Pvt.Ltd
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much Infrax Renewable Ltd IPO subscribed?

Infrax Renewable Ltd IPO is subscribed 2.05 times by Sep 11, 2026. Retail: 1.90x. QIB: 1.00x. NII: 1.39x.

Investor CategorySubscription
Qualified Institutional (QIB)1.00x
Non Institutional (NII/HNI)1.39x
Retail Individual1.90x
Total Subscription2.05x
What is Infrax Renewable Ltd IPO retail subscription status?

The Infrax Renewable Ltd IPO retail category is subscribed 1.90 times as of 11 Sep 2026. The retail portion is oversubscribed.

How to subscribe Infrax Renewable Ltd IPO?

Subscribe via your broker app using ASBA or UPI. Opens 09 Sep 2026 and closes 11 Sep 2026. Min investment: ₹124,800 (1 lot = 1,200 shares). UPI mandate: 5:00 PM on 11 Sep 2026.

How many times Infrax Renewable Ltd IPO subscribed?

The Infrax Renewable Ltd IPO subscribed 2.05x overall. QIB: 1.00x, NII: 1.39x, Retail: 1.90x. Applications: from NSE/BSE.

How to check Infrax Renewable Ltd IPO allotment?

Check allotment on the registrar website (Bigshare Services Pvt.Ltd) at https://ipo.bigshareonline.com/IPO_Status.html. Enter your PAN, application number or DP/Client ID. Allotment date: 15 Sep 2026. Refunds: on 16 Sep 2026.

When Infrax Renewable Ltd IPO will be listed?

The Infrax Renewable Ltd IPO listing date is 17 Sep 2026, Thursday. Listed on: BSE SME. Issue price: ₹104. Estimated listing: ₹105. GMP: +₹1.

When Infrax Renewable Ltd IPO close?

The Infrax Renewable Ltd IPO closes on 11 Sep 2026, Friday. UPI mandate: 5:00 PM on 11 Sep 2026. Allotment: 15 Sep 2026. Listing: 17 Sep 2026.