Gretex Share Broking IPO
Gretex Share Broking IPO is a proposed 100% book-built issue comprising a Fresh Issue of up to 1,67,81,915 equity shares and an Offer for Sale of up to 30,96,000 equity shares. The face value of the equity shares is ₹10 each. The price band and minimum bi
Gretex Share Broking IPO Details
Gretex Share Broking IPO is a proposed book-built public issue comprising a Fresh Issue of up to 1,67,81,915 equity shares and an Offer for Sale of up to 30,96,000 equity shares. The company has not finalized the price band or minimum bid lot in the available Draft Red Herring Prospectus. The company proposes to use the net proceeds from the Fresh Issue primarily for funding its working capital requirements and general corporate purposes. The equity shares are proposed to be listed on both BSE and NSE.
Gretex Share Broking IPO Lot Size
The Gretex Share Broking IPO lot size has not yet been announced. The Draft Red Herring Prospectus states that the price band and minimum bid lot will be decided by the company and the selling shareholders in consultation with the Book Running Lead Manager and announced before the bidding period begins.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) |
Gretex Share Broking IPO Reservation
Gretex Share Broking IPO is proposed as a book-built issue in which not more than 50% of the Offer would be available for allocation to Qualified Institutional Buyers, not less than 15% to Non-Institutional Investors and not less than 35% to Retail Individual Investors. The final number of shares available under each category will depend on the final Offer size and applicable reservation requirements.
Gretex Share Broking IPO Subscription
Gretex Share Broking IPO has not yet opened for subscription. Therefore, category-wise and overall subscription figures are currently unavailable. Subscription data will be updated once the issue opens and investor bidding begins.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About Gretex Share Broking
Gretex Share Broking Limited was originally incorporated as Sherwood Securities Private Limited on April 29, 2010. The company subsequently changed its name to Gretex Share Broking Private Limited in 2017 and was converted into a public limited company in 2023, becoming Gretex Share Broking Limited. Its registered office is located in Mumbai, Maharashtra.
The company is engaged in market making and stock broking activities. Its business also includes underwriting of capital-market issuances and depository participant services. As a market maker, the company provides liquidity to securities of companies listed or proposed to be listed on SME exchanges through two-way quotes during trading hours.
Gretex Share Broking is registered as a stock broker and provides broking services to institutional and retail clients. Its broking activities cover equity, equity derivatives, currency derivatives and commodities. The company also provides depository participant services through NSDL.
The company is a subsidiary of Gretex Corporate Services Limited, a SEBI-registered Category-I Merchant Banker. According to the DRHP, Gretex Share Broking had undertaken market-making activities for more than 20 companies as of September 2023. The company also has a wholly owned subsidiary, Signageus Value Advisors Private Limited.
Strengths
- Integrated business model covering market making, stock broking, underwriting and depository participant services.
- Presence across BSE and NSE memberships and NSDL depository participant activities.
- Established operating history in the capital-market services industry since 2010.
- Synergies with promoter Gretex Corporate Services Limited, a SEBI-registered Category-I Merchant Banker.
- Experience in market making for SME companies and participation in SME IPO-related activities.
- Diversified institutional and retail broking activities provide multiple sources of operating revenue.
Risks to Consider
- The company's revenue and profitability are dependent on activity and volatility in the capital markets.
- A significant dependence exists on Gretex Corporate Services Limited for market-making and underwriting-related business referrals.
- Changes in the relationship with its promoter could adversely affect market-making and underwriting revenues.
- The financial-services business is subject to extensive regulatory requirements and compliance obligations.
- The company has experienced inconsistent revenues in the past and has reported negative operating cash flows for certain periods.
- Cybersecurity breaches, technology failures and operational disruptions could adversely affect its business.
Gretex Share Broking Financials (₹ Cr)
Gretex Share Broking reported significant growth in revenue and profitability during the financial years covered by its DRHP. Revenue from operations increased from ₹13.56 crore in FY2021 to ₹39.66 crore in FY2022 and ₹102.62 crore in FY2023. Profit after tax increased from ₹0.26 crore in FY2021 to ₹8.55 crore in FY2022 and ₹46.75 crore in FY2023. For the four months ended July 31, 2023, the company reported revenue from operations of ₹20.92 crore and PAT of ₹6.12 crore.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| July 31, 2023 | 20.92 | 6.12 | 85.48 | 73.93 |
| March 31, 2023 | 102.62 | 46.75 | 82.88 | 66.64 |
| March 31, 2022 | 39.66 | 8.55 | 35.93 | 32.03 |
| March 31, 2021 | 13.56 | 0.26 | 18.06 | 15.95 |
KPIs & Valuation
Gretex Share Broking reported a basic and diluted EPS of ₹9.45 for FY2023. The company reported a Return on Net Worth of 70.15% and a Net Asset Value of ₹13.47 per equity share for FY2023. Since the IPO price band had not been finalized in the DRHP, the Pre-IPO and Post-IPO P/E ratios cannot be calculated.
Objects of the Issue
The Gretex Share Broking IPO comprises a Fresh Issue of up to 1,67,81,915 equity shares and an Offer for Sale of up to 30,96,000 equity shares. The company will not receive any proceeds from the Offer for Sale. The net proceeds from the Fresh Issue are proposed to be used primarily for working capital requirements and general corporate purposes. The company proposed to utilise the IPO proceeds for:
- Funding the working capital requirements of the company.
- General corporate purposes.
- Meeting the applicable issue-related requirements and expenses.
Promoters, Lead Managers & Registrar
Gretex Share Broking Limited is promoted by Alok Harlalka, Arvind Harlalka, Anita Harlalka, Rajkumari Harlalka, Pooja Harlalka, Sashi Harlalka, Gretex Corporate Services Limited, Ambition Tie-Up Private Limited and Talent Investment Company Private Limited. Pantomath Capital Advisors Private Limited is the Book Running Lead Manager to the Issue, while Bigshare Services Private Limited is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Bigshare Services Private Limited |
|---|---|
| Phone | +91 22 6263 8200 |
| ipo@bigshareonline.com | |
| Website | www.bigshareonline.com |
Gretex Share Broking IPO Review
Gretex Share Broking operates across several capital-market activities, including market making, stock broking, underwriting and depository participant services. This integrated model gives the company exposure to multiple segments of the financial-services industry rather than relying entirely on a single activity.
The company has an established operating history dating back to 2010 and has developed experience in market making for SME-listed companies. Its relationship with Gretex Corporate Services Limited also provides business synergies because the promoter operates as a merchant banker and advises companies on capital-market transactions.
The financial performance shown in the DRHP improved substantially during FY2023. Revenue from operations increased from ₹39.66 crore in FY2022 to ₹102.62 crore in FY2023, while profit after tax increased from ₹8.55 crore to ₹46.75 crore. For the four months ended July 31, 2023, revenue from operations stood at ₹20.92 crore and PAT at ₹6.12 crore.
However, investors should consider the company's dependence on capital-market conditions and its relationship with Gretex Corporate Services Limited. The DRHP also highlights regulatory, cybersecurity, operational and cash-flow risks. Since the price band and minimum bid lot have not been finalized, valuation cannot be assessed conclusively until the final IPO parameters are announced.
How to Apply
Gretex Share Broking IPO applications can be made through the ASBA/UPI process once the issue opens. The final price band, lot size and bidding dates have not yet been announced, so investors should check the final issue documents before applying.
Through UPI
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Log in to your stockbroker app/website.
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Go to the IPO section.
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Select Gretex Share Broking IPO.
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Enter the number of lots you want to apply for.
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Select the bid price once the final price band is announced.
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Enter your valid UPI ID.
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Submit the IPO application.
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Open your UPI app when the mandate request arrives.
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Approve the mandate using your UPI PIN.
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The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to the company's Draft Red Herring Prospectus for detailed information about the business, financial performance, risk factors, proposed IPO structure, promoters and utilisation of the issue proceeds. The available DRHP is dated December 14, 2023. The final price band, lot size and bidding schedule are to be announced in the subsequent offer documents.
Last updated Oct 6, 2026.