Gretex Corporate Services, a prominent name in financial and corporate advisory, has announced that its material subsidiary, Gretex Share Broking, is preparing to file its Draft Red Herring Prospectus (DRHP) for a Mainboard Initial Public Offering (IPO).
According to market research, the IPO is expected to be sized between INR 250 crore and INR 300 crore, comprising a fresh issue of equity shares and/or an offer for sale (OFS). The company indicated that finer details regarding structure, price band, and timeline will be finalized after receiving the necessary approvals from SEBI and the concerned stock exchanges.
Strategic Step Toward Growth
The move underscores Gretex Group’s ambition to unlock value in its financial services portfolio. Gretex Share Broking — the broking and investment arm of the group — reported approximately INR 240 crore in revenue for FY25, reflecting its strong operational performance and growing client base.
The IPO is expected to help the subsidiary raise funds to expand operations, enhance technology infrastructure, strengthen market presence, and improve service offerings, according to early industry analyses. Additionally, market watchers believe there will likely be a shareholder quota in the offering, allowing existing investors of Gretex Corporate Services to participate in the subsidiary’s growth story.
Market Reaction and Performance
Following the announcement, Gretex Corporate Services’ shares surged by nearly 5% on the BSE, reaching an intraday high of INR 388.5 per share on 20 November 2025, hovering near its upper circuit limit. The company’s market capitalisation stood at approximately INR 871.61 crore, with a 52-week high of INR 460.25 and a 52-week low of INR 213.56.
The rally in share price came despite the company reporting a decline in Q2 FY26 consolidated net profit to INR 12.9 crore, down 11.3% year-on-year. Revenue from operations fell 15% to INR 79.6 crore, compared to INR 93.7 crore in the same quarter last year. However, EBITDA rose slightly to INR 19.6 crore from INR 19.3 crore, improving the EBITDA margin to 29% from 10.6% year-on-year — signaling improved operational efficiency despite top-line pressure.
About Gretex Corporate Services
Founded in Mumbai, Gretex Corporate Services is engaged in providing a broad suite of financial and advisory services, including IPO assistance, venture capital, angel funding, business valuation, open offers, and alternative investment fund advisory. The company plays a key role in supporting SMEs and emerging enterprises in raising capital and achieving sustainable growth.
Gretex has a nationwide presence with offices in Mumbai, Kolkata, Jaipur, and Indore, and is known for its commitment to corporate social responsibility (CSR) initiatives aimed at empowering local communities.
Outlook and Industry Impact
The proposed IPO of Gretex Share Broking marks a strategic milestone for the Gretex Group. The market suggests that the listing could unlock shareholder value and strengthen the company’s footprint in India’s expanding capital markets ecosystem.
Industry observers believe the move may also boost investor confidence in the broader financial services and brokerage sector, which continues to evolve rapidly with increasing retail participation, digitization, and regulatory modernization.
As the company prepares to file its DRHP, investors and market participants are watching closely for upcoming disclosures on issue structure, valuation, and timing. If executed successfully, the IPO could not only reinforce Gretex Group’s standing in the financial services domain but also mark another significant step in the ongoing mainboard migration trend among emerging financial institutions.
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