Grace Renewable Energy Limited IPO is fully book build issue and total IPO size is ₹[.] crores. The entire share offering is an offer for sale of 1100000 shares.
The dates for the Grace Renewable Energy Limited IPO have not been announced yet. The allotment process is expected to be finalized by [.].
The Grace Renewable Energy Limited IPO is scheduled to list on BSE SME, with a listing date of [.]. The price band for the Grace Renewable Energy Limited IPO has not been announced yet.
Registrar for this IPO is Kfin Technologies Limited and lead managers for Grace Renewable Energy Limited IPO are Marwadi Chandarana Intermediaries Brokers Private Limited.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | 5,500,000 Shares |
| Fresh Issue | 4,400,000 Shares |
| OFS Issue | 1,100,000 Shares |
| Issue Type | Fresh Issue and Offer for Sale |
| Listing At | BSE SME |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 50% |
| Retail | 35% |
| NII/HNI | 15% |
About Grace Renewable Energy Limited Company
We specialize in providing comprehensive solar energy solutions to residential, commercial, and industrial clients. Our offerings include on-site solar projects like rooftop and ground-mounted systems, as well as off-site solar farms. Additionally, we offer battery energy storage solutions under the brand "Grace," sourced from third-party manufacturers.
From April 2021 to September 2024, we successfully executed and commissioned 36,450 KW of solar projects across 3,359 sites in 8 Indian states and 2 countries, including 3,180 residential sites (14,746 KW) and 179 commercial and industrial sites (21,704 KW). Our EPC contracts encompass site feasibility assessment, technology selection, detailed engineering, and complete supply chain management, both locally and internationally.
Government support, as evidenced by a significant increase in funding for green infrastructure, including approximately ₹10,000 crore allocated to grid-connected solar power, underscores the growth potential. India aims for 500 GW of non-fossil fuel capacity by 2030, with solar energy playing a pivotal role, attracting investments of US$ 350 –400 billion annually.
Our commitment to quality is demonstrated by ISO 9001:2015 certification. Led by an experienced management team, we offer end-to-end CAPEX solutions and O&M services to ensure optimal system performance.
Grace Renewable Energy Limited Financial Details
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 2493.34 | 1641.78 | 918.63 | 833.49 |
| Revenue | 523.78 | 779.09 | 385.50 | 493.62 |
| Profit After Tax | 69.96 | 57.45 | 7.31 | 8.66 |
| Net Worth | 162.03 | 92.07 | 34.62 | 27.32 |
| Reserves and Surplus | 132.03 | 62.07 | 34.12 | 26.82 |
| Total Borrowing | 21.70 | 32.43 | 41.02 | 30.29 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 3.68 | 62.40% | 30.69 | 0.35 | N/A | 77.06% |
Offer Objectives
The company plans to utilize the net proceeds from the fresh issue for several key objectives. A significant portion, ₹9.98 Crore, is allocated for purchasing machinery to establish a Battery Energy Storage System (BESS) facility, Phase II. This facility, located in Sanand, Ahmedabad, will have a capacity of 248 MW.
BESS Facility Details:The BESS facility will follow a multi-step process from cell storage and aging to installation of battery racks in containers. This investment is expected to enhance the company's EPC business by ensuring consistent availability of storage solutions and increasing margins.
In addition to machinery purchase, ₹34.98 Crore is earmarked to meet working capital requirements. A portion will also be directed towards general corporate purposes, not exceeding 15% of the gross proceeds or ₹10 Crore, whichever is lower.
The company anticipates deploying ₹27.58 Crore of the net proceeds in Fiscal 2026 and ₹7.39 Crore in Fiscal 2027 for meeting working capital requirements. Any unutilized funds will be used for future growth opportunities and general corporate purposes, in compliance with applicable laws.
Phase I Production: Phase I for manufacturing of Lithium -Ion Batteries with 48 MW capacity will be progressing as schedule. The Company has already completed the procurement process and placed orders for plant and machinery. Expected Commercial production is going to commence by April/May 2025.
Company Details
Address:
43, The Chamber Near TGB Hotel,
S G Highway, Bodakdev,
Ahmedabad 380054, Gujarat, India
Phone: +91 7573903035
Email: [email protected]
Website: http://www.gracerenew.com
IPO Registrar Details
KFin Technologies Limited
Phone: + 91-40-67162222
Email: [email protected]
Website: http://www.kfintech.com
Offer Prospectus & Documents
Lead Managers
- Marwadi Chandarana Intermediaries Brokers Private Limited
