upcoming
GreenHydro Energy Ltd IPO
GreenHydro Energy is a renewable energy company focused on green hydrogen production. The IPO aims to raise ₹2,500 crore for capacity expansion.
Price band
₹320 – ₹340
Open date
5 May 2026
Close date
8 May 2026
Listing date
13 May 2026
Lot size
44
Issue size
₹2,500 crore
Company Overview
GreenHydro Energy Ltd is one of India’s leading green hydrogen producers with 3 operational plants across Gujarat and Rajasthan. The company has secured long-term offtake agreements with major industrial players.
Financial Highlights
| Metric | FY24 | FY25 | FY26 (9M) |
|---|---|---|---|
| Revenue (₹ Cr) | 850 | 1,200 | 1,100 |
| PAT (₹ Cr) | 95 | 140 | 135 |
| EBITDA Margin | 22% | 24% | 26% |
Objects of the Issue
- ₹1,500 crore for new green hydrogen plant in Tamil Nadu
- ₹600 crore for debt repayment
- ₹400 crore for general corporate purposes
Key Risks
- Regulatory changes in green energy subsidies
- High capital expenditure requirements
- Technology obsolescence risk
Context
The green hydrogen sector has attracted policy support and private investment. GreenHydro’s secured offtake agreements provide revenue visibility, while the upper price band values the issue at 28x FY26 annualized earnings.