GRE Renew Enertech raises ₹3.25 crore in private placement, aims IPO in August
Summary
GRE Renew Enertech on Wednesday, May 8, announced it had successfully secured funding of 3.25 crore in a private placement round.The firm, which supplies sustainable lighting and power products solutions, has secured the funding while it aims to launch its initial public offering (IPO) to raise nearly 30 crore around August this year. "GRE Renew Enertech has successfully secured funding of 3.25 crore in a private placement round. This infusion of capital comes at a crucial juncture for the company as it gears up for its IPO, which is anticipated to hit Dalal Street on the SME platform around August. Additionally, several funds actively investing in the SME space participated in the round, such as Chanakya Opportunities Fund-1, Absolute Return Scheme, and Persistent Growth Fund.GRE Renew Enertech is headquartered in Mehsana, Gujarat. "GRE Renew Enertech is poised to undertake projects exceeding 100 megawatts in fiscal year 2025.