Quarterly Updates23 May 2026, 07:21 pm
GRE Renew Enertech: IPO Fund Utilization Update for Q4 FY26
AI Summary
GRE Renew Enertech reported on the utilization of IPO proceeds for the quarter ended March 31, 2026. The company raised ₹3,956.40 Lakhs through its IPO. There were deviations in the utilization of funds, specifically related to issue expenses, where actual expenses were ₹400.36 Lakhs against an estimated ₹433.59 Lakhs, resulting in savings of ₹33.23 Lakhs. These savings will be utilized for incremental costs in setting up a solar power plant. As of March 31, 2026, ₹2,386.38 Lakhs has been utilized out of the total funds raised.
Key Highlights
- GRE Renew Enertech's IPO gross proceeds were ₹3,956.40 Lakhs.
- ₹33.23 Lakhs saved from issue expenses will be used for solar plant costs.
- ₹1,871.64 Lakhs utilized for setting up the solar power plant till date.
- ₹114.38 Lakhs utilized for general corporate purposes.
- Actual Issue Expenses incurred by the Company amounted to ₹400.36 Lakhs.
Price Impact
More from GRERENEW