Greenleaf Envirotech was incorporated on March 09, 2010. The company provides EPC and turnkey solutions for wastewater treatment projects, including STPs and ETPs, covering design, supply, installation, commissioning, and project management. It also offers O&M, AMC services, and operates a government-recognised environmental laboratory in Surat, Gujarat, for testing and consulting
| Bidding Dates |
|---|
| 30 Sep 2025 - 06 Oct 2025 |
| Subscription |
|---|
| 3.68x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,72,000 | 2 | 2 | 1000 | 1.6 M | ₹136 | 56.37 % | ₹219.0 M | RHP DOC |
Greenleaf Envirotech IPO SUBSCRIPTION STATUS
06 Oct '25Greenleaf Envirotech IPO overall subscription rate was 3.68 times the total available shares
Greenleaf Envirotech IPO retail subscription rate was 3.42 times in the retail segment
Greenleaf Envirotech IPO non-institutional investor subscription rate was 3.95 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
06 Oct 2025 (Day 4) | 3.42x | 3.95x | - |
03 Oct 2025 (Day 3) | 0.54x | 0.12x | - |
01 Oct 2025 (Day 2) | 0.42x | 0.1x | - |
30 Sep 2025 (Day 1) | 0.27x | 0x | - |
Greenleaf Envirotech FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 38.9 | 4.7 | 5.7 | 5.5 | 17.1% |
| FY24 | 32.5 | 2.3 | -0.8 | -1.0 | 11.3% |
| FY23 | 26.4 | 1.0 | 2.4 | 2.3 | 7.9% |
Greenleaf Envirotech IPO SUBSCRIPTION STATUS DETAILS
Greenleaf Envirotech had 1.6 M shares on offer
Greenleaf Envirotech IPO offer price was ₹136
Greenleaf Envirotech IPO minimum Investment was ₹272000
Greenleaf Envirotech IPO issue size was ₹ 219.0 M
Greenleaf Envirotech had a minimum lot size of 1000 Shares per application
Greenleaf Envirotech NUMBER OF SHARES ON OFFER
Greenleaf Envirotech IPO IMPORTANT DATES
| Issue Open Date | 30 Sep 2025 |
| Issue close Date | 06 Oct 2025 |
| Allotment Date | 07 Oct 2025 |
| Refund Date | 08 Oct 2025 |
| Demat Account Credit Date | 08 Oct 2025 |
| Listing Date | 09 Oct 2025 |
| Listing on Exchange(s) | NSE |
| Greenleaf Envirotech Allotment Status | Exchange/ Registrar |
Greenleaf Envirotech IPO subscription opened on 30 Sep 2025, and closed on 06 Oct 2025
IPO allotment for Greenleaf Envirotech was finalized on Tuesday, 07 Oct 2025
IPO listing for Greenleaf Envirotech was on NSE on Thursday, 09 Oct 2025
Greenleaf Envirotech IPO LISTING GAINS
| Issue Price (adjusted) | 136.0 |
| Listing Open Price | 134.9 |
| Listing Close Price | 132.9 |
| Listing Gain% | -0.8% |
| Current Gain% | -16.9% |
Greenleaf Envirotech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Greenleaf Envirotech Ltd. | 113 | 67 | 9.3 | 1.1 | 20.7 | 12 | 60.9 | 7.2 | 12.2 | ||||
| GAIL (India) Ltd. | 173.6 | 114163.5 | 11.6 | -0.8 | 0.8 | 8.5 | 5.4 | 143107.9 | 0 | 7582.5 | -39.1 | 15 | -15.1 |
| Adani Total Gas Ltd. | 657.6 | 72318 | 114.4 | -47.5 | 11.5 | 13.5 | 6.9 | 5932.3 | 17.9 | 655.7 | 0.2 | 5.7 | -2.4 |
| Gujarat Energy Ltd. | 265.3 | 24891.3 | 24.3 | -2.3 | 1.5 | 9.1 | 6.1 | 24161.9 | 44.7 | 1677.6 | 46.1 | 10.9 | -10.6 |
| Indraprastha Gas Ltd. | 151.9 | 21271.6 | 13.7 | -1.4 | 1.3 | 13.5 | 9.1 | 16541.2 | 8.4 | 1549.6 | -9.8 | 11.1 | -9.8 |
| Va Tech Wabag Ltd. | 1957.7 | 12219.5 | 33 | 1.3 | 3.1 | 14.4 | 6 | 4038.5 | 21 | 370.5 | 25.5 | 59.4 | 25.5 |
Greenleaf Envirotech INFORMATION ON IPO ISSUE
About Greenleaf Envirotech
Greenleaf Envirotech was incorporated on March 09, 2010. The company provides EPC and turnkey solutions for wastewater treatment projects, including STPs and ETPs, covering design, supply, installation, commissioning, and project management. It also offers O&M, AMC services, and operates a government-recognised environmental laboratory in Surat, Gujarat, for testing and consulting
Object of the Issue
- Funding of capital expenditure of the company towards purchase of civil machines and equipments
- Funding of capital expenditure of the company towards purchase of laboratory equipments
- Repayment or prepayment, in full or in part, of borrowings availed by the company from banks, financial institutions and non-banking financial companies
- Funding working capital requirements of the company
- General corporate purposes
Greenleaf Envirotech - PROMOTERS
| Name |
|---|
| Kalpesh Gordhanbhai Goti |
| Gopiben Kalpesh Goti |
Greenleaf Envirotech - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Kalpesh Gordhanbhai Goti | Chairman & Managing Director |
| Gopiben Kalpesh Goti | Whole Time Director |
| Dahyalal Prajapati | Non-Executive Independent Director |
| Sanket Pravinchandra Shah | Non-Executive Independent Director |
| Kaushik Vallabhbhai Antaliya | Non-Executive Independent Director |
Greenleaf Envirotech Book Running Lead Manager
Smart Horizon Capital Advisors Private Limited
director@shcapl.com
Greenleaf Envirotech Registrar to the issue
KFIN Technologies Limited
greenleaf.ipo@kfintech.com
Greenleaf Envirotech Strengths
In-house project execution
The company has an in-house team of qualified engineers, supervisors, and quality personnel for executing and maintaining WWT projects. The team develops detailed project plans, designs, and technical documentation to ensure compliance with standards and client specifications
Environmental laboratory services
The company’s environmental laboratory provides monitoring and analysis of air, water, soil, and noise pollution, supporting compliance, pollution control, and sustainability across industries like chemical manufacturing, infrastructure, and urban utilities. Recognised under the Environment (Protection) Act, 1986, and NABL-accredited per ISO/IEC 17025:2017, the lab ensures precise, timely, and regulation-compliant analyses
Quality certification & assurance
The company emphasises high-quality standards and holds ISO certifications: ISO 9001:2015 (Quality), ISO 14001:2015 (Environmental), and ISO 45001:2018 (Health & Safety) for its services in environmental monitoring, EPC turnkey projects, O&M of water and wastewater plants, and fire-fighting solutions. Quality managers oversee resource optimisation, operational efficiency, and cost control, using regular reports and review meetings to maintain consistent quality and address deviations proactively
Greenleaf Envirotech Risks
Execution risks
The company executes wastewater treatment projects both as a contractor and a subcontractor. Acting as a contractor offers greater control over scope, timelines, margins, and client relationships, while sub-contracting exposes the company to risks from changing market demand, tendering norms, and potential loss of key business relationships
Dependence on suppliers & contractors
The company relies on a few key suppliers and third-party contractors for raw materials, labour, and equipment in civil construction and wastewater treatment projects. Loss of any supplier or unsatisfactory services from contractors could disrupt operations, affect project timelines, and negatively impact revenue and results
Risk of liquidated damages
The company’s fixed-price and item-rate contracts in wastewater treatment projects may include liquidated damages for delays or non-performance. Such penalties, calculated as a percentage of contract value, could adversely impact financials, operations, and reputation
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.1 crore, of 300,000 shares. It also consists of a fresh issue of Rs 17.8 crore.
The promoters of the company are Kalpesh Gordhanbhai Goti and Gopiben Kalpesh Goti.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 136.0 - 136.0.
The IPO application opens on Sep 30, 2025 and closes on Oct 06, 2025.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 272,000.0, the maximum value for this IPO is Rs 272,000.0.
This IPO will be allotted on Oct 07, 2025.
The refund will be credited to your account on Oct 08, 2025.
The allotted shares will be credited to your demat on Oct 08, 2025.
Greenleaf Envirotech Ltd.’s shares listed on the stock exchanges on Oct 09, 2025.