Infrax Renewable Limited

SMElistedBSE SME

09 Sep 2026 – 11 Sep 2026

LISTED

Offer Price

₹104

Bid lot

1200

Min Application

₹2,49,600

Issue Size

₹41 Cr

Key dates

Open date

09 Sep 2026

Done

Close date

11 Sep 2026

Done

Basis of allotment

15 Sep 2026

Done

Initiation of refunds

15 Sep 2026

Done

Credit to demat

15 Sep 2026

Done

Listing date

17 Sep 2026

Done

Issue reservation

₹41 Cr

HNI (2-10L) 47.07%Retail 47.86%5.07%

HNI (2-10L)

18.5 L sh · ₹19.30 Cr

47.07%

Retail

18.8 L sh · ₹19.62 Cr

47.86%

Market maker

2.0 L sh · ₹2.07 Cr

5.07%

Applications required for 1× subscription

Retail (≤₹2L)

784 forms

S-HNI (₹2–10L)

514 forms

From this issue's reservation split and lot size — the minimum bid each category can place.

BRLM: Smart Horizon Capital Advisors Private Limited

Lot ladder — how much to bid

1 lot = 1200 shares

Individual · up to ₹2 L2+ lots

Min · 2 lots

2,400 sh · ₹2,49,600

Entry point

₹2,49,600 onward

sHNI · ₹2 L to ₹10 L3+ lots

Min · 3 lots

3,600 sh · ₹3,74,400

Entry point

₹3,74,400 onward

bHNI · Above ₹10 L9+ lots

Min · 9 lots

10,800 sh · ₹11,23,200

Entry point

₹11,23,200 onward

Issue details

Lead managersSmart Horizon Capital Advisors Private Limited

Fresh issue32,50,800 sh · ₹34 Cr

Offer for sale6,80,400 sh · ₹7 Cr

Face value₹10

Listing onBSE SME

RegistrarBigshare Services Pvt.Ltd.

Grey-market sentiment

No grey-market data yet.

Financials

Particulars	FY26	FY25	FY24
Assets	31.53	8.24	4.4
Total Income	93.33	30.48	9.66
PAT	10.2	2.85	0.96
Net Worth	15.77	1.89	1.4
Reserves & Surplus	14.52	0.89	—
Total Borrowings	6.99	3.02	—

Objects of the issue

Capital Expenditure: Machinery and equipment for the manufacturing facility (₹12.29 crore).
Working Capital: Funding operational requirements (₹17 crore).
General Corporate Purposes: Corporate expenses and issue-related costs.

About the company

Infrax Renewable Limited, incorporated in September 2024, operates in the renewable energy sector, specializing in solar EPC services, solar product sales, and power generation. The company provides end-to-end solar solutions, including project design, installation, commissioning, and O&M services for residential, commercial, and industrial customers. It also operates a 1.2 MW solar power plant in Gujarat, supplying electricity to PGVCL under a 25-year Power Purchase Agreement. Additionally, the company supplies solar PV modules, inverters, and related equipment, with operations across multiple Indian states.

Company strengths

Expertise in solar EPC projects.
Diversified EPC, solar products, and IPP businesses.
Empanelled under PM Surya Ghar Yojana.
Strong multi-state distribution network.
ISO 9001:2015 certified.
Plans for in-house manufacturing and recycling.
Promoter team with 17+ years of experience.

Promoters

Bhargv Ashvinbhai VachhaniGandhi Bhavik TarunkumarKhushboo Bhargav Vachhani.

Registered office & contact

Infrax Renewable Limited.

Address - 402-403, R K Prime 2

Mahapuja Dham Chok, 150 Feet Road

Malviyanagar

Rajkot, Gujarat, 360004

📞 +91 7874074000

✉️ investor@infraxrenewable.com

How to apply

1Create your account & log inSign up on Investoyard and complete a quick KYC.

2Pick the IPO & tap ApplyOpen the live IPO and choose your investor category.

3Enter bid & quantityUp to 3 bids · cut-off or price band · retail cap ₹2,00,000.

4Approve the UPI mandateYou receive a fund-block request on your UPI app.

5DoneFunds stay blocked until allotment, then auto-debited (or released).

Frequently asked questions

What is the minimum investment in the INFRAX RENEWABLE LIMITED IPO?

One lot of 1200 shares — ₹2,49,600 at the upper price band of ₹104.

How many bids can I place?

Up to 3 bids per application. Retail applications are capped at ₹2,00,000; above that you must apply in the HNI category.

When are the funds debited?

Funds are blocked via a UPI mandate at application and debited only on allotment. If shares are not allotted, the block is released automatically.

When will the shares list?

Tentative listing on 2026-09-17 on BSE SME.

₹104

Applications are closed.