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Infrax Renewable Limited
2.05xsubscribed

Infrax Renewable Limited

Power Generation/Distribution
listed
₹2.50LMin. investment

Infrax Renewable Limited IPO Details

SectorPower Generation/Distribution
Price range₹104 – ₹104
IPO type
SME
Lot size1200 shares
Issue size₹41Cr
Draft Red Herring Prospectus
Read
Market cap
₹148.05CrLower than sector avg
RevenueApr 2025 - Mar 2026
₹93.21CrLower than sector avg
Growth rate3Y CAGR
211%Higher than sector avg

Infrax Renewable Limited Subscription Status

Date
QIB
NII
Retail
Total
09-Sep-26
0.0 times (X)
0.01 times (X)
0.16 times (X)
0.08 times (X)
10-Sep-26
0.0X
0.14X
0.39X
0.27X
11-Sep-26
0.0X
1.42X
1.88X
2.05X

As on 09-Sep-26, 5:00 PM

Infrax Renewable Limited Timeline

  1. Pre-apply
    8 Sep 2026
  2. Bid start
    9 Sep 2026
  3. Bid end
    11 Sep 2026
  4. Allotment
    15 Sep 2026
  5. Release of funds
    16 Sep 2026
  6. Demat transfer
    16 Sep 2026
  7. Listing
    17 Sep 2026

About Infrax Renewable Limited

Infrax Renewable is an ISO 9001:2015 certified solar power company operating in three main business segments. These are: EPC Services: Rooftop residential and ground-mounted commercial solar power plants, including design, installation and O&M services; Trading: Sales of solar PV panels, inverters and other components; and IPP (Independent Power Producer): 1.2 MW solar power plant at Bhadla, Jasdan, Rajkot, supplying power to PGVCL on the basis of long-term PPA.
The company's order backlog as of August 20, 2026, was represented by 3,100 projects totalling ₹62.44 crore. The number of dealers grew substantially from 720 dealers in FY24 to 2,830 dealers in FY26. During the last three financial years, the company managed to install and commission 5,708 rooftop and ground-mounted solar projects, with the total value of projects being more than ₹87.44 crore. The number of rooftop solar projects installed increased from 664 projects in FY24 to 3,078 projects in FY26.
Residential rooftop solar energy systems constituted 50.04%, solar product sales constituted 41.52%, and commercial ground-based solar installations constituted 8.44% of the revenue for FY26. Based on customer classification, consumer business contributed 58.48% in FY26, compared to FY24, where consumer business accounted for 96.15% of revenue, while business-to-business operations contributed 41.52% of the revenue in FY26. Region-wise, the company has a strong presence in Gujarat state, which constituted 97.41% of revenue in FY26, with a very small contribution from other states such as Uttar Pradesh, Madhya Pradesh, Rajasthan, and Telangana.

Checklist

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Objectives of Infrax Renewable IPO

Working capital requirements
50.20%
The company will utilise ₹17 crore for funding working capital requirements of the company.
Capital expenditure
36.30%
₹12.2 crore will be used to purchase machinery and equipment for the manufacturing facility.
Issue expenses
7.30%
The company will use ₹2.4 crore, out of the gross proceeds for IPO related expenses.
General corporate purposes
6.00%
The company will use ₹2.03 crore for general corporate purposes.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹93.21Cr211%₹10.2Cr₹148.05Cr9.580.44
This sector (avg.)₹7,783.3Cr0.01%₹1,281.2Cr₹38,103.65Cr45.352.10
₹1,88,138.06Cr---₹20,251.23Cr₹3,45,201.3Cr14.281.36
₹45,792.32Cr---₹15,245.13Cr₹2,38,560.5Cr15.691.41
₹11,212Cr---₹1,557Cr₹1,40,388.8Cr98.956.59

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Infrax Renewable Limited Contact Details

Company NameInfrax Renewable Limited

How to apply for Infrax Renewable Limited?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Infrax Renewable IPO FAQs