Infrax Renewable IPO
SMEInfrax Renewable provides engineering, procurement, and construction (EPC) solutions and infrastructure development services for renewable energy projects, primarily solar installations.
Verdict: Avoid
Est. GMP
₹0 (0%)
Price range
₹104
Lot size
—
Issue size
—
Allotment
14 Sept
Listing
16 Sept
Review
1. Grey market premium
★★★★★The grey market premium stands at 0%, reflecting negligible listing gain expectations.
2. Company financials
★★★★★The business operates in a working-capital-intensive sector with thin operating margins typical of small-scale EPC contractors.
3. Subscription status
★★★★★Initial subscription demand is muted across categories on opening day.
4. Anchor investors
★★★★★No anchor portion was allocated for this SME public issue.
Company financials
Amount ₹ in Crores
| Period ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹9.66 | ₹8.15 | ₹0.96 | ₹4.40 |
| 2025 | ₹30.48 | ₹26.20 | ₹2.85 | ₹8.24 |
| 2026 | ₹93.33 | ₹79.55 | ₹10.20 | ₹31.53 |
Subscription
Anchor investors
Anchor book details pending.
No anchor investor book was raised for this issue.
Risks
- ConcentrationRevenue is heavily dependent on a limited number of renewable energy EPC contracts.
- FinancialHigh working capital intensity exposes the firm to delayed client payments and cash flow mismatches.
- ValuationZero GMP and lack of institutional anchor support provide no downside buffer on listing.
- RegulatoryPolicy shifts in renewable energy tariffs and solar module import duties could hurt project viability.