Timeline & Dates
| Event | Date |
|---|---|
| IPO Opening Date | 30 September 2025 |
| IPO Closing Date | 06 October 2025 |
| Allotment Date | 07 October 2025 |
| Refunds Initiated / Credit to Demat | 08 October 2025 |
| Listing Date | 09 October 2025 |
Key IPO Details & Structure
- The IPO is a SME / Emerge (NSE-SME) issue.
- Issue Price / Price Band: ₹ 136 per share (fixed, i.e. price band ₹ 136 – ₹ 136)
- Face Value: ₹ 10 per share
- Lot Size: 1,000 shares per lot
- Issue Size / Shares Offered: 16,10,000 equity shares aggregating to ₹ 21.90 crore.
- Fresh Issue: 13,10,000 shares (≈ ₹ 17.82 cr)
- Offer for Sale: 3,00,000 shares by promotors (≈ ₹ 4.08 cr)
- Reservation / Allocation:
- Market Maker Reservation Portion: 84,000 shares (5.22%)
- Non-Institutional Investors (NII / HNI): 7,48,000 shares (46.46%)
- Retail Individual Investors (RII): 7,78,000 shares (48.32%)
- Promoter Shareholding Pre- & Post-Issue:
- Pre-issue promoter holding is ~78.85%
- Post-issue promoter holding will reduce (due to dilution) — the public shareholding post-issue becomes ~43.63%
- Objectives / Use of Proceeds: The funds are intended for:
- Purchase of machinery & equipment
- Purchase of laboratory equipment
- Repayment / prepayment of borrowings
- Working capital requirements
- General corporate purposes
Company Overview
Name & Incorporation
- Greenleaf Envirotech Limited was incorporated in 2010.
- The company converted from a private limited to a public limited company more recently.
Headquarters & Reach
- Head office is in Surat, Gujarat.
- They operate across multiple states in India (e.g. Gujarat, Maharashtra, Rajasthan, Karnataka, Assam, Himachal Pradesh etc.) with both ongoing projects and upcoming projects spread geographically.
Financial Snapshot
Here are key financials (restated, as per the IPO documents) for the fiscal years ending March 31, 2023, 2024, and 2025. Amounts are in ₹ Crores unless stated otherwise.
| Particulars | FY 2022-23 | FY 2023-24 | FY 2024-25 |
|---|---|---|---|
| Total Income / Revenue | ~ 26.58 cr | ~ 32.64 cr | ~ 39.08 cr |
| Expenses | ~ 25.21 cr | ~ 29.58 cr | ~ 32.80 cr |
| Profit After Tax (PAT) | ~ 0.97 cr (≈ ₹ 96.7 lakh) | ~ 2.28 cr | ~ 4.59-4.70 cr |
| EBITDA | ~ 2.09 cr | ~ 3.66 cr | ~ 6.62 cr |
| Net Worth | ~ 2.62 cr | ~ 7.71 cr | ~ 12.41 cr |
| Total Borrowings / Debt | ~ 6.12 cr | ~ 5.13 cr | ~ 2.49 cr |
Other derived metrics:
- Operating Profit Margin (EBITDA margin) has improved significantly:
From ~7-8% in FY 2023/24 → to ~17% in FY 2024-25. - Profit After Tax Margin (PAT margin) similarly improved: from ~3-4% to ~12% in FY 2024-25.
- Return on Net Worth (RoNW) is high: around ~37.8% in FY 2024-25.
- Earnings per share (basic) for FY 2024-25: ~ ₹ 10.17/share.
Interpretation / Insights
- The company has shown consistent revenue growth over the last 3 years, with near doubling of profit after tax from FY 2023 → FY 2025.
- Expense growth has been more moderate relative to revenue, allowing margins to expand.
- Reduction in debt / borrowings is notable: borrowings decreased from ~6.12 cr in FY 2022-23 to ~2.49 cr in FY 2024-25, which improves leverage and financial risk profile.
- Net Worth has also increased significantly, implying retained earnings & reserves have built up well.
Strengths
- Has an in-house lab certified / accredited (NABL etc.) and approved auditor status.
- Experienced technical team; more than 100 employees as of recent financials.
- Demonstrated growth in executing wastewater / treatment projects: both in number and in size. For instance, a 32 MLD STP in Latur (Maharashtra) is cited as a milestone project.
- Geographical diversification across states in India.
Challenges / Risks
- Dependence on governmental / regulatory approvals, and risk of delays in payments from public sector or municipal contracts.
- Execution risk: projects in early stages may have delays or cost overruns.
- Being a relatively smaller SME company, scaling and competition are moderate risks. Also first time public issue implies less historical trading data.
Greenleaf Envirotech Ltd. IPO FAQs
1. What is Greenleaf Envirotech Ltd.?
Greenleaf Envirotech Ltd. is an environmental engineering company engaged in designing, building, and maintaining Sewage Treatment Plants (STPs), Effluent Treatment Plants (ETPs), Water Treatment Plants (WTPs), and offering environmental laboratory, consultancy, and O&M services.
2. On which exchange will the shares be listed?
The IPO will list on NSE SME (Emerge platform).
3. What is the face value of Greenleaf Envirotech Ltd. shares?
The face value of each equity share is ₹10.
4. What is the IPO issue price?
The IPO issue price is ₹136 per share (fixed price).
5. What is the IPO lot size?
The minimum lot size is 1,000 shares, i.e., an investment of ₹1,36,000.
6. What is the total issue size of the IPO?
The issue size is 16.10 lakh equity shares aggregating to ₹21.90 crore, comprising a fresh issue and offer for sale.
