Grace Renewable Energy Limited
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Grace Renewable Energy Limited's is preparing to launch its Initial Public Offering (IPO) with a substantial issue size of 1,12,00,000 Shares. The offering comprises a fresh issue component of 84,15,000 Shares.
The price band for the IPO has been set at TBD, providing investors with a range to place their bids. The minimum investment lot consists of TBD, making it accessible to both retail and institutional investors.
The subscription window for this public offering opens on TBD and will conclude on TBD. Following the subscription period, the share allotment is scheduled for TBD, with the official listing expected to commence on TBD on the NSE, BSE exchange.
Grace Renewable Energy Limited, incorporated in September 2013, provides solar energy solutions and energy-related products through three business segments: solar Engineering, Procurement and Construction (EPC), trading of solar products, and Battery Energy Storage Systems (BESS). Its Solar EPC business offers turnkey photovoltaic solutions for rooftop and ground-mounted installations serving residential, commercial and industrial (C&I) customers. The services cover site assessment, system design, procurement, installation, testing, commissioning, and operation and maintenance (O&M). As of March 31, 2026, the company had commissioned a cumulative solar capacity of 94,904.74 kW across 6,344 projects, with an EPC order book valued at ₹478.86 million. Its trading segment supplies solar PV modules and inverters, including modules manufactured by Mundra Solar Energy Limited, Mundra Solar PV Limited and Adani New Industries Limited, for which it acts as an authorised channel partner. The company also operates in the BESS segment under the Grace brand, offering battery packs through in-house manufacturing, third-party contract manufacturing and imports. In 2026, it established a battery manufacturing facility in Ahmedabad, Gujarat, with an installed capacity of 48 MWh. Grace Renewable Energy has executed solar projects across 11 Indian states and operates in three international markets. Its revenue from operations increased from ₹779.09 million in FY2024 to ₹1,204.92 million in FY2025 and ₹2,058.36 million in FY2026. As of August 31, 2026, the company had 87 permanent employees across technical, battery, sales and marketing, management and other functions.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
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- Renewable Energy Focus: Grace Renewable Energy Limited operates in the renewable energy sector, providing opportunities to participate in the growing demand for sustainable power generation and clean-energy solutions.
- Growing Clean Energy Market: Increasing investments in solar and other renewable energy projects, along with India's focus on expanding renewable power capacity, create potential opportunities for business growth.
- Expansion Opportunities: Rising demand for renewable energy infrastructure and energy-efficient solutions may allow the company to develop new projects, strengthen industry relationships, and expand its market presence.
- Dependence on Government Policies: Renewable energy businesses are influenced by government incentives, regulations, power tariffs, and project approval requirements. Changes in these policies may affect project viability and business performance.
- Project Execution Challenges: Delays in obtaining approvals, procuring equipment, completing installations, or connecting projects to the grid may increase costs and affect revenue generation.
- Competition & Funding Requirements: The renewable energy sector requires significant investment and faces competition from established energy companies. Difficulty securing funds or increases in equipment and financing costs may affect profitability.
- Manish Bagadia
- Karuna Bagadia
- Harsh Bagadia
Grace Renewable Energy Limited
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