Infrax Renewable
LIVEIPO Date: 9 Sept - 11 Sept 2026
Listing Date: 17 Sept 2026
Price Range
Rs.104 - Rs.104
Issue Size
41 Cr
Min Investment
₹2,49,600
2 lots minimum (SEBI rule for SME)
Min Application
2400 Shares
1200 per lot × 2
Schedule of Infrax Renewable
Issue open date
9 Sept 2026
Issue close date
11 Sept 2026
UPI mandate deadline
11 Sept 2026 (5 PM)
Allotment finalization
15 Sept 2026
Share credit
16 Sept 2026
Listing date
17 Sept 2026
Mandate end date
26 Sept 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 41 Cr |
| Fresh Issue | 33.81 Cr |
| Offer for Sale | 7.08 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 15 Sept 2026 |
| Allotment Link | {Link} |
Grey Market Premium
NewGrey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 8 Sept 2026Latest | ₹104 | ₹0 | ₹104(0%) |
| 7 Sept 2026 | ₹104 | ₹0 | ₹104(0%) |
| 6 Sept 2026 | ₹104 | ₹0 | ₹104(0%) |
| 5 Sept 2026 | ₹104 | ₹0 | ₹104(0%) |
| 4 Sept 2026 | ₹104 | ₹0 | ₹104(0%) |
Performance Infrax Renewable
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| Rs.104 - Rs.104 | .... | .... | .... |
About Infrax Renewable
Infrax Renewable Limited is an ISO 9001:2015 certified company engaged in solar engineering, procurement and construction (EPC) services, solar product distribution and independent power producer (IPP) activities. Its EPC services include the design, engineering, procurement, installation, testing, commissioning, and operation and maintenance of rooftop and ground-mounted solar projects. The company also supplies solar PV modules, inverters, and related solar products through authorised dealers and direct sales. The company operates a solar power plant at Bhadla (Jasdan), Gujarat, and sells electricity to Paschim Gujarat Vij Company Limited under a power purchase agreement. It is also empanelled as a national vendor under government-sponsored schemes, including the PM Surya Ghar: Muft Bijli Yojana. As of FY26, it operated three warehouses and had branch offices across four states.
| Founded in | 2019 |
| Managing director | Mr Bhargv Ashvinbhai Vachhani |
| Parent organization |
Financial Overview
Strengths
5- 1
Diversified presence across solar EPC, product distribution, and IPP operations.
- 2
Extensive market reach supported by a growing network of 2,830 local dealers.
- 3
Solid execution pipeline backed by an active order book of 1,756 solar projects.
- 4
Strategic expansion into in-house manufacturing of solar frames and mounting structures.
- 5
Comprehensive capabilities for managing solar projects from initial design to final commissioning.
Risks
5- 1
High geographic concentration with 97.41% of FY26 revenue generated solely in Gujarat.
- 2
Business viability relies heavily on continued government solar policies and subsidies.
- 3
Dependent on limited third-party component suppliers without long-term procurement contracts.
- 4
Lacks formalized and comprehensive contractual agreements with certain operational dealers.
- 5
Vulnerable to project execution delays, operational hazards, and severe weather disruptions.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | N/A |
| Non-Institutional Investors (NIIs) | N/A |
| Retail Individual Investors (RIIs) | N/A |
| Employee | N/A |
| Total | N/A |