Infrax Renewable IPO Details
| IPO Open Date | September 9, 2026 |
| IPO Close Date | September 11, 2026 |
| Face Value | ā¹10 Per Equity Share |
| IPO Price Band | ā¹104 Per Share |
| Issue Size | Approx ā¹40.88 Crores |
| Fresh Issue | Approx ā¹33.81 Crores |
| Offer for Sale: | Approx 6,80,400 Equity Shares |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Infrax Renewable IPO Market Lot
The Infrax Renewable IPO minimum market lot is 2400 shares with ā¹2,49,600 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2400 | ā¹2,49,600 |
| Retail Maximum | 2 | 2400 | ā¹2,49,600 |
| S-HNI Minimum | 3 | 3,600 | ā¹3,74,400 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| NII Shares Offered | 18,81,600 Shares | 50.42% |
| Retail Shares Offered | 18,50,400 Shares | 49.58% |
Infrax Renewable IPO Dates
The Infrax Renewable IPO date is September 9 and the close date is September 11. The Infrax Renewable IPO allotment will be finalized on September 15 and the IPO listing on September 17.
| IPO Open Date: | September 9, 2026 |
| IPO Close Date: | September 11, 2026 |
| Basis of Allotment: | September 15, 2026 |
| Refunds: | September 16, 2026 |
| Credit to Demat Account: | September 16, 2026 |
| IPO Listing Date: | September 17, 2026 |
Promoters and Holding Pattern
The promoters of the company are Bhargv Ashvinbhai Vachhani, Gandhi Bhavik Tarunkumar and Khushboo Bhargav Vachhani.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
| Promoter and Promoter Group | 77,60,000 | 70.64% | 7,079,600 | 49.73% |
| Others* | 32,25,111 | 29.36% | 7,156,311 | 50.27% |
| Total | 1,09,85,111 | 100% | 1,42,35,911 | 100% |
Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
| Funding of capital expenditure of the Company towards purchase of machineries and equipments for proposed manufacturing facility | ā¹12.29 |
| Funding working capital requirements of the Company | ā¹17.00 |
| General corporate purposes | ā¹2.03 |
| Issue Expenses | ā¹3.00 |
About Infrax Renewable
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.
Company Financials
Amount ā¹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ā¹9.66 | ā¹8.15 | ā¹0.96 | ā¹4.40 |
| 2025 | ā¹30.48 | ā¹26.20 | ā¹2.85 | ā¹8.24 |
| 2026 | ā¹93.33 | ā¹79.55 | ā¹10.20 | ā¹31.53 |
Company Valuation – FY2026
Check Infrax Renewable IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 115.54% |
| ROCE: | 63.89% |
| EBITDA Margin: | 15.62% |
| PAT Margin: | 10.94% |
| Debt to equity ratio: | 0.44 |
| Earning Per Share (EPS): | ā¹10.86 (Basic) |
| Price/Earning P/E Ratio: | 9.58 |
| Return on Net Worth (RoNW): | 64.68% |
| Net Asset Value (NAV): | ā¹15.77 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Acme Solar Holdings Limited | 8.24 | 49.25 | 9.84% | 83.63 | – Cr. |
| Alpex Solar Limited | 80.52 | 10.90 | 35.87% | 219.94 | – Cr. |
| Solarium Green Energy Limited | 9.81 | 15.78 | 12.58% | 77.93 | – Cr. |
IPO Lead Managers aka Merchant Bankers
- Smart Horizon Capital Advisors Pvt.Ltd.
Company Address
Infrax Renewable Ltd.
402-403, R K Prime 2
Mahapuja Dham Chok, 150 Feet Road
Malviyanagar
Rajkot, Gujarat, 360004
Phone: +91 7874074000
Email: [email protected]
Website: https://infraxrenewable.com/
IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: 8657578989/8069219065/8069219060
Email: [email protected]
Website: https://ipo.bigshareonline.com/IPO_Status.html
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Note: The Infrax Renewable IPO price band and date are officially announced. The (Infrax Renewable IPO grey market premium) will be added to the IPO GMP page as it will start).
