Infrax Renewable IPO
Infrax Renewable, founded in September 2024, is an Engineering, Procurement, and Construction (EPC) firm focused on providing solar energy solutions, including rooftop and Ground-mounted solar projects. Its product range includes the manufacturing of a wide range of solar products, including solar PV modules, inverters, and related equipment.
IPO GMP
₹0
+0% expected gain
Price Band
₹104
Lot Size
2400 shares
Min Investment
₹2,49,600
Listing Date
September 17, 2026
About Infrax Renewable
Company overview, business, and key facts.
Infrax Renewable, founded in September 2024, is an Engineering, Procurement, and Construction (EPC) firm focused on providing solar energy solutions, including rooftop and Ground-mounted solar projects. Its product range includes the manufacturing of a wide range of solar products, including solar PV modules, inverters, and related equipment.
The firm operates its business via 3 different models: EPC services, offering end-to-end solar solutions, from planning and designing to installation; Independent Power Producer (IPP), selling solar electricity through its own solar power plant in Gujarat; and supplying various solar products, including Solar PV Modules, Solar PV Inverters, and other solar products. Infrax Renewable products cater to customers across residential, commercial, and industrial segments.
Founded
2024
Headquarters
Rajkot, Gujarat
Promoters
Bhargv Ashvinbhai Vachhani, Gandhi Bhavik Tarunkumar, Khushboo Bhargav Vachhani
Website
https://infraxrenewable.com/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Financials
Restated summary financials for the most recent periods.
Figures are indicative and restated for presentation.
Infrax Renewable IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Market cap at upper band
₹148.1 Cr
Post-IPO shares × upper price band
P/E on 2026 profit
14.5x
Peer median 15.8x (discount of 8.2%)
Price to sales
1.59x
Revenue growth, 2026
+206.2%
210.8% a year over the period
Profit growth, 2026
+257.9%
226% a year over the period
Profit margin (PAT)
10.9%
EBITDA margin 15.62%
ROE / ROCE
115.54% / 63.89%
As published in the offer document
Debt to equity
0.44
Promoter holding
70.64% → 49.73%
Before → after the IPO
Issue mix
82.7% fresh / 17.3% sale
Fresh issue goes to the company, offer for sale to selling shareholders
GMP-implied gain per lot
₹0
2400 shares on ₹2,49,600. GMP is unofficial.
What stands out
- Profit grew 257.9% in 2026.
Watch-outs
- Promoter holding drops to 49.73% after the IPO.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: published risk factors.
IPO Analysis SummaryAI-generated
A plain-language review of Infrax Renewable's financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
Infrax Renewable IPO Review
Analysis based on live GMP, subscription, and issue details.
Infrax Renewable IPO is currently showing a neutral GMP of ₹0, suggesting the market is cautious about listing gains.
The IPO has been subscribed 2.05x overall — QIB: —, NII: 1.39x, Retail: 1.9x.
Infrax Renewable IPO subscription has closed. The shares are expected to list on September 17, 2026.
The minimum investment required is ₹2,49,600 for 2400 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
Infrax Renewable IPO — Frequently Asked Questions
What is Infrax Renewable IPO GMP today?
Infrax Renewable IPO GMP (grey market premium) today is ₹0, suggesting an estimated listing gain of +0%. GMP is indicative and subject to change.
What is the price band of Infrax Renewable IPO?
The price band for Infrax Renewable IPO is ₹104 with a lot size of 2400 shares. The minimum investment required is ₹2,49,600.
When is Infrax Renewable IPO allotment date?
Infrax Renewable IPO allotment is expected to be finalised on September 15, 2026. You can check your allotment status on the registrar's website (Bigshare Services Pvt. Ltd.) using your PAN number.
When will Infrax Renewable IPO list on NSE/BSE?
Infrax Renewable IPO is expected to list on BSE SME on September 17, 2026.
How to check Infrax Renewable IPO allotment status?
To check Infrax Renewable IPO allotment status, visit the registrar's website (Bigshare Services Pvt. Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for Infrax Renewable IPO?
Infrax Renewable IPO has a GMP of ₹0. Before applying, review the company's financials, business model, issue structure (OFS vs fresh issue), and sector outlook. IPOLyst is not a SEBI-registered investment advisor — please consult a qualified financial advisor before investing.
What is the lot size of Infrax Renewable IPO?
The lot size for Infrax Renewable IPO is 2400 shares per lot. The minimum investment for retail investors is ₹2,49,600. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.