Fixed Price IPO | ₹[.] Cr | Listing at BSE SME |
Infrax Renewable Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the exchange on June 26, 2026 to raise funds through Initial Public Offer (IPO).
Infrax Renewable Ltd. IPO is a Fixed Price Issue of 0.39 crore equity shares consisting of a fresh issue of upto 0.33 crore equity shares and an offer for sale (OFS) of upto 0.07 crore equity shares.
The equity shares are proposed to be listed on the BSE SME. Smart Horizon Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Infrax Renewable IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 39,31,200 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 32,50,800 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 6,80,400 shares of ₹10 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 1,09,85,111 shares |
| Share Holding Post Issue | 1,42,35,911 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, Jun 26, 2026 |
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | Not less than 50% of the Net Offer |
| NII Shares Offered | Not less than 50% of the Net Offer |
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.
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.
The company is ISO 9001:2015 certified and plans to strengthen backward integration by establishing in-house manufacturing facilities for solar panel recycling and silver extraction, solar mounting structures, and solar frame production.
As of March 31, 2026, Infrax Renewable employed 52 permanent personnel across sales & marketing, technical services, liaison, finance, project design, HR, material handling, and management functions.
Strengths
Infrax Renewable Ltd.'s revenue increased by 206% and profit after tax (PAT) rose by 258% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 31.53 | 8.24 | 4.40 |
| Total Income | 93.33 | 30.48 | 9.66 |
| Profit After Tax | 10.20 | 2.85 | 0.96 |
| EBITDA | 14.56 | 4.50 | 1.76 |
| NET Worth | 15.77 | 1.89 | 1.40 |
| Reserves and Surplus | 14.52 | 0.89 | |
| Total Borrowing | 6.99 | 3.02 | |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Leapfrog Engineering Services Ltd. | SME | ₹88.51 Cr | ₹23 | 15.19 | ₹23.10 | +0.43% | ₹22.65 (-0.22%) |
| Safety Controls & Devices Ltd. | SME | ₹48.00 Cr | ₹80 | 12.3 | ₹78.99 | -1.26% | ₹73.33 (-0.20%) |
| Srinibas Pradhan Constructions Ltd. | SME | ₹20.32 Cr | ₹98 | 9.15 | ₹104.40 | +6.53% | ₹133.00 (-1.48%) |
| GRE Renew Enertech Ltd. | SME | ₹39.56 Cr | ₹105 | 15.72 | ₹91.20 | -13.14% | ₹159.85 (+4.99%) |
| E to E Transportation Infrastructure Ltd. | SME | ₹84.22 Cr | ₹174 | 15.44 | ₹327.80 | +88.39% | ₹270.00 (-1.37%) |
| Valplast Technologies Ltd. | SME | ₹28.09 Cr | ₹54 | 12.75 | ₹58.63 | +8.57% | ₹40.50 (+3.85%) |
| Chiraharit Ltd. | SME | ₹31.07 Cr | ₹21 | 13.95 | ₹15.96 | -24.00% | ₹7.70 (-3.87%) |
| Telge Projects Ltd. | SME | ₹27.24 Cr | ₹105 | 14.04 | ₹110.45 | +5.19% | ₹170.50 (+2.46%) |
| Karbonsteel Engineering Ltd. | SME | ₹59.30 Cr | ₹159 | 12.47 | ₹194.35 | +22.23% | ₹100.00 (-3.52%) |
| Goel Construction Co.Ltd. | SME | ₹100.10 Cr | ₹263 | 7.8 | ₹317.60 | +20.76% | ₹447.60 (-5.00%) |
| Oval Projects Engineering Ltd. | SME | ₹46.74 Cr | ₹85 | 13.91 | ₹85.05 | +0.06% | ₹56.00 (-1.75%) |
| Current Infraprojects Ltd. | SME | ₹41.80 Cr | ₹80 | 11.78 | ₹152.75 | +90.94% | ₹109.00 (+6.86%) |
| Mahendra Realtors & Infrastructure Ltd. | SME | ₹49.45 Cr | ₹85 | 9.94 | ₹64.60 | -24.00% | ₹71.85 (-0.55%) |
| Savy Infra & Logistics Ltd. | SME | ₹69.98 Cr | ₹120 | 7.53 | ₹143.30 | +19.42% | ₹120.00 (-0.50%) |
| Om Power Transmission Ltd. | Mainboard | ₹150.06 Cr | ₹175 | 21.13 | ₹193.38 | +10.50% | ₹169.99 (-1.45%) |
| Solarworld Energy Solutions Ltd. | Mainboard | ₹490.00 Cr | ₹351 | 33.77 | ₹323.50 | -7.83% | ₹206.46 (-2.78%) |
| GK Energy Ltd. | Mainboard | ₹464.26 Cr | ₹153 | 20.29 | ₹167.74 | +9.63% | ₹137.30 (-0.76%) |
| Vikran Engineering Ltd. | Mainboard | ₹772.00 Cr | ₹97 | 22.88 | ₹95.71 | -1.33% | ₹72.13 (-1.47%) |
| M&B Engineering Ltd. | Mainboard | ₹650.00 Cr | ₹385 | 24.98 | ₹408.65 | +6.14% | ₹321.35 (-2.22%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure of the Company towards purchase of machineries and equipments for proposed manufacturing facility | 12.29 |
| 2 | Funding working capital requirements of the Company | 17.00 |
| 3 | General corporate purposes | |
| Total | 29.29 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 115.54% |
| ROCE | 63.89% |
| Debt/Equity | 0.44 |
| RoNW | 64.68% |
| PAT Margin | 10.94% |
| EBITDA Margin | 15.62% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 9.29 | 7.17 |
| Promoter Holding | 70.64% |
Lead Manager Reports
Infrax Renewable IPO is a SME IPO of 39,31,200 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Infrax Renewable IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Infrax Renewable IPO using UPI as a payment gateway. Zerodha customers can apply in Infrax Renewable IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Infrax Renewable IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Infrax Renewable IPO dates are not announced. Please check back again after some time.
Infrax Renewable IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Infrax Renewable IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Infrax Renewable IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Infrax Renewable IPO allotment status.
The Infrax Renewable IPO listing date is not yet announced. The tentative date of listing is .
