GRE Renew Enertech, a provider of sustainable lighting and power products solutions, announced a successful private placement round, securing ₹3.25 crore in funding. The infusion of capital arrives as the company prepares for its upcoming initial public offering (IPO), projected to debut on the SME platform around August, with aims to raise approximately ₹30 crore.
Notable investors Ankit Mittal and Amit Kumar spearheaded the investment, with active participation from funds specializing in the SME sector, including Chanakya Opportunities Fund-1, Absolute Return Scheme, and Persistent Growth Fund.
Headquartered in Mehsana, Gujarat, GRE Renew Enertech has built a solid presence in the solar industry, boasting over 1100 completed projects. Its portfolio encompasses CPP (captive power plant) and RESCO (renewable energy service company) projects.
The company’s manufacturing capabilities include LED lighting, solar lighting, general lighting, and power products. With fully air-conditioned infrastructure covering administration, manufacturing, packaging, and warehousing, GRE Renew Enertech is primed for significant expansion, targeting projects exceeding 100 megawatts in fiscal year 2025.
