Greenleaf Envirotech Limited is an environmental engineering company offering end-to-end Engineering, Procurement, and Construction (EPC) and turnkey solutions for wastewater management projects. The company specializes in Sewage Treatment Plants (STPs) and Effluent Treatment Plants (ETPs), delivering complete services ranging from designing, engineering, procurement, supply, installation, and testing to operation & maintenance (O&M).
The business operates across three key segments:
- Wastewater Treatment Solutions – EPC and turnkey execution of STPs and ETPs.
- Environmental Laboratory & Consulting Services – accredited laboratory in Surat providing testing, auditing, and consulting.
- Fire Safety Services – offering manpower and safety monitoring solutions.
With a state-of-the-art laboratory and consulting facility in Surat, Greenleaf has built a strong execution record. In the last three fiscal years, it completed 31 turnkey/EPCC projects worth ₹6,616.18 lakhs. As of May 31, 2025, the company is handling 17 ongoing wastewater projects (13 turnkey/EPCC and 4 O&M) and preparing to launch 2 new projects across Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, Karnataka, Assam, and Himachal Pradesh.
Greenleaf’s focus on sustainable environmental solutions, advanced infrastructure, and certified quality systems (ISO and NABL accreditations) strengthens its positioning as a trusted player in India’s wastewater management industry.
Greenleaf Envirotech IPO – Details
| IPO Opening Date | 30 September 2025 |
| IPO Closing Date | 06 October 2025 |
| Issue Type | Fixed Price IPO |
| Issue Size | Total Issue: 16,10,000 Shares Worth ₹21.90 Crore Fresh Issue: 13,10,000 Shares Worth ₹17.82 Crore Offer For Sale: 3,00,000 Shares Worth ₹4.08 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹136 per share |
| Market Lot | 1000 Shares |
| Min Order | 1000 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Kfin Technologies Ltd. |
| NII Shares Offered | 50% |
| Retail Shares Offered | 50% |
Greenleaf Envirotech IPO – Date Schedule
| IPO Open Date | 30 September 2025 |
| IPO Close Date | 06 October 2025 |
| Basis of Allotment | 07 October 2025 |
| Initiation of Refund | 08 October 2025 |
| Credit of Shares to Demat | 08 October 2025 |
| IPO Listing Date | 09 October 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 06, 2025 |
Greenleaf Envirotech IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,72,000 |
| Retail (Max) | 2 | 2,000 | ₹2,72,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,08,000 |
Competitive Strength
- In-House project execution, designing and engineering capabilities.
- In-house environmental laboratory.
- Experienced promoter and management team.
- Robust Order book of Rs 5,411.03 lakhs as of May 31, 2025.
- Quality certification and assurance.
Company Promoters
- Mr. Kamlesh Gordhanbhai Goti
- Ms. Gopiben Kalpesh Goti
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹26.58 Cr | ₹25.21 Cr | ₹0.97 Cr | ₹6.12 Cr |
| 31 March 2024 | ₹32.64 Cr | ₹29.58 Cr | ₹2.28 Cr | ₹5.13 Cr |
| 31 March 2025 | ₹39.08 Cr | ₹32.80 Cr | ₹4.70 Cr | ₹2.49 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 46.68% |
| ROCE | 45.01% |
| Debt/Equity | 0.20 |
| RoNW | 37.84% |
| PAT Margin | 12.09% |
| EBITDA Margin | 17.05% |
| Price to Book Value | 5.06 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.17 | 7.92 |
| P/E (x) | 13.38 | 17.17 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding of capital expenditure of its Company towards purchase of civil machines and equipments. | ₹1.86 |
| Funding of capital expenditure of our Company towards purchase of laboratory equipments. | ₹0.35 |
| Repayment or prepayment, in full or in part, of borrowings availed by our Company from banks, financial institutions and non-banking financial companies. | ₹1.35 |
| Funding working capital requirements of its Company. | ₹9.00 |
| General Corporate Purposes. | ₹2.66 |
✅Strengths
- Strong track record with 31 projects worth ₹6,616.18 lakhs in 3 years.
- Accredited with ISO & NABL certifications.
- Presence across multiple states with government/institutional clients.
⚠️Risks
- High dependence on government contracts and payment timelines.
- Ongoing litigations and debt obligations.
- Working capital–intensive, exposed to project delays and competition.
Greenleaf Envirotech IPO Promoter Holding
| Pre Issue Share Holding | 78.85% |
| Post Issue Share Holding | 59.37% |
Greenleaf Envirotech IPO Prospectus
Company Contact Information
| Greenleaf Envirotech Ltd. 3rd Floor, Room No. 4, Plot No. 27-35 Kankavati Complex, Nandanvan Group H Soc., Singanpore Road, Surat City Surat, Gujarat, 395004 Phone: +91-9714888033 Email: cs.greenleaf@greenleafenvirotech.in Website: http://www.greenleafenvirotech.in/ |
Greenleaf Envirotech IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: greenleaf.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Greenleaf Envirotech IPO Lead Manager(s)
| 1. Smart Horizon Capital Advisors Pvt.Ltd. |
Greenleaf Envirotech IPO FAQ
| What is Greenleaf Envirotech IPO? Greenleaf Envirotech IPO is an SME IPO. The issue is priced at ₹136 per equity share. The IPO is to be listed on NSE SME. |
| When Greenleaf Envirotech IPO will open? The IPO is to open on 30 September 2025 for NII and Retail Investors. |
| What is Greenleaf Envirotech IPO Investors Portion? The investors’ portion for NII – 50% and Retail – 50%. |
| What is the Greenleaf Envirotech IPO Size? Greenleaf Envirotech IPO size is ₹21.90 Crore. |
| What is Greenleaf Envirotech IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 2,000 Shares with ₹2,72,000amount, while the maximum bid is 2,000 Shares with ₹2,72,000. |
| What is the Greenleaf Envirotech IPO Allotment Date? Greenleaf Envirotech IPO allotment date is 07 October 2025. |
| What is the Greenleaf Envirotech IPO Listing Date? Greenleaf Envirotech IPO listing date is 09 October 2025. The IPO is to be listed on the NSE SME. |
