Table of Contents
Greenzo Energy Unlisted Shares
BUY
₹ 520.00
SELL
₹ 570.00
Greenzo Energy shares may be in a sideways trend due to a combination of factors, including the nascent stage of the green hydrogen market, the company's unlisted status, and broader market conditions in the energy sector.
As on 14 Aug 2026, 12:04 PM, we are buying shares of the GREENZO ENERGY INDIA LIMITED for ₹ 520.00 and selling them for ₹ 570.00 per share.
About Greenzo Energy Unlisted Shares
Greenzo Energy India Limited is a dynamic player in the renewable energy sector, founded in 2021 with a focus on sustainable solutions like solar, hydropower, and green hydrogen. The company’s rapid growth is marked by key milestones:
- 2020: Began as a hydropower consultancy.
- 2021: Commissioned Nepal’s first 12.25 MW solar project.
- 2022: Expanded solar consultancy (200+ MW projects) and launched an electrolyser manufacturing plant.
- 2023: Entered green hydrogen production, positioning itself as a pioneer in India’s clean energy transition.
Under the leadership of Mr. Sandeep Agarwal (Founder) and Mr. Raj Kumar Agarwal (ex-NTPC executive), Greenzo combines technical expertise with strategic vision. As of May 2024, the company’s unlisted shares trade at ₹750, with a market cap of ₹885 Cr. Projections indicate robust growth, targeting ₹4,200 Cr turnover and ₹686 Cr PAT by FY2029, reflecting a 20x forward P/E ratio.
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Business Divisions
A. Electrolyser Manufacturing
The company is setting up a 250 MW electrolyser plant in Sanand, Gujarat (Phase-1 investment: ₹100 Cr). Electrolysers are critical for producing green hydrogen via water electrolysis. While production is yet to commence, Greenzo aims to deliver proprietary PEM electrolysers, offering end-to-end solutions from financing to plant maintenance.
B. Renewable Energy Services
Greenzo provides solar, wind, and hydropower EPC services, having executed projects like:
- Nepal’s 12.25 MW solar plant.
- API Power’s 4 MW solar installation.
- Chandranigahapur’s 5 MW project.
C. Green Hydrogen & Ammonia Consultancy
The firm assesses demand-supply dynamics, infrastructure feasibility, and export potential for green hydrogen/ammonia. Its reports guide clients on replacing conventional fuels with carbon-free alternatives.
D. Fuel Cell Technology
Greenzo develops fuel cells to convert hydrogen into electricity, targeting industries like transportation and backup power systems.
Pros
- Strategic Partnership: Collaborated with France's EODev to introduce hydrogen fuel cell generators in India and Nepal.
- Manufacturing Expansion: Investing ₹3,500 crore in an electrolyzer plant in Gandhinagar to boost green hydrogen production.
- Diverse Renewable Projects: Secured a ₹500 crore EPC project for a 120 MW solar installation in Nepal.
Cons
- High Capital Expenditure: Significant investments in new facilities may strain financial resources.
- Market Competition: Faces competition from established players in the renewable energy sector.
- Regulatory Challenges: Navigating complex regulations in multiple countries could impact project timelines.
Fundamentals
| Share Name | Particulars |
|---|---|
| Greenzo Energy Unlisted Shares | 570 |
| Shares Price | Per Equity Share |
| Minimum Lot Size | Shares Worth Rs. 20000 |
| Depository | NSDL & CDSL |
| PAN Number | AAKCG1555H |
| ISIN Number | INE0OA401013 |
| CIN | U29309DL2022PLC407203 |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 801.83 |
| P/E Ratio | 583.84 |
| P/B Ratio | 9.17 |
| Debt to Equity | 0 |
| ROE (%) | 11.65 |
| Book Value | 62.16 |
| EPS | 1.16 |
| Face Value | 10 |
| Total Shares | 11850000 |
Financials
| P&L Statement | 2025 | 2024 |
|---|---|---|
| Revenue | 15.96 | 14.8 |
| Cost of Material Consumed | 27.53 | 11.7 |
| Gross Profit Margins | -72.49% | 20.95% |
| EBITDA | 0.98 | 1.27 |
| EBITDA Margins | 6.14% | 8.58% |
| EBIT | 0.69 | 1.23 |
| EBIT Margins | 4.32% | 8.31% |
| PBT | 1.96 | 1.31 |
| PAT | 1.38 | 1 |
| NPM | 8.65% | 6.76% |
| EPS | 1.16 | 0.91 |
| Cash Flow Statement | 2025 | 2024 |
|---|---|---|
| Cash from Operating Activity | -44.54 | -5.89 |
| Cash from Investing Activity | -14.4 | -5.22 |
| Cash from Financing Activity | 20.18 | 54.88 |
| Net Cash Flow | -38.76 | 43.77 |
| Assets | 2025 | 2024 |
|---|---|---|
| Fixed Assets | 10.2 | 3.76 |
| CWIP | 10.4 | 1.51 |
| Investments | 0.56 | 0 |
| Trade Receivables | 18 | 12.6 |
| Inventory | 18 | 0.09 |
| Other Assets | 24.84 | 46.04 |
| Total Assets | 82 | 64 |
| Liabilities | 2025 | 2024 |
|---|---|---|
| Share Capital | 11.85 | 10.93 |
| Reserves | 65.6 | 27 |
| Borrowings | 0 | 0.51 |
| Trade Payables | 3.4 | 6.3 |
| Other Liabilities | 1.15 | 19.26 |
| Total Liabilities | 82 | 64 |
Peer Comparison
| Company | Market Cap (cr.) | Revenue (cr.) | P/E | P/B | ROE (%) |
|---|---|---|---|---|---|
| Greenzo Energy Unlisted Shares | 801.83 | 15.96 | 583.84 | 9.17 | 12% |
| Jupiter International Limited Unlisted Shares | 17291.83 | 556 | 140.61 | 32.72 | 24% |
| Insolare Energy Unlisted Share | 1012.27 | 438 | 59.52 | 4.93 | 9% |
| Solar 91 Cleantech Unlisted Share | 766.78 | 82.19 | 134.56 | 26.33 | 38% |
| Onix Renewables Unlisted Share | 633.78 | 1001 | 5.51 | 0.89 | 16% |
| GH2 Solar Unlisted Share | 457.88 | 212.09 | 22.82 | 7.76 | 468% |
Promoters or Management
| Name | Designation |
|---|---|
| Sandeep Agarwal | MD, CEO |
Frequently Asked Questions
Is it legal to buy Greenzo Energy unlisted shares in India?
The buying and selling of unlisted shares and pre-IPO shares is fully legal and valid.
How to buy Greenzo Energy unlisted shares?
The procedure to buy Greenzo Energy unlisted shares is fairly simple. Once you have settled on the price and quantity of the transaction, you would have to transfer the funds into the bank account of the seller. Once the funds are transferred and transaction details are shared with the seller, your demat account will be credited with the shares either on the same day of the fund transfer or before the end of the next working day.
Is Greenzo Energy involved in selling its unlisted shares?
In the secondary market, the transactions related to unlisted shares take place with the existing owners of the shares who are generally the employees or existing investors in the company. The company itself is not directly involved.
When will the Greenzo Energy unlisted shares be credited into my demat account?
The Greenzo Energy unlisted shares will get credited either the same day or before the end of the next working day when you transfer the funds into our bank account.
Is there any minimum lot size limit to buy Greenzo Energy unlisted shares?
The minimum lot size varies on the basis of market conditions and demand and supply factors. To know the current lot size of Greenzo Energy, please visit the stock page on our website: www.delistedstocks.in
How is the market price of Greenzo Energy unlisted shares determined?
There are many factors which influence the pricing of unlisted shares. Apart from the supply and demand factors, the latest transactions happened on the same stock, last funding round of the company, and valuation level of companies of the similar size affect the pricing of the unlisted shares.
What is the minimum lock-in period for Greenzo Energy unlisted shares?
Before IPO, there is no restriction on sale and transfer of your Greenzo Energy unlisted shares. But once the shares are listed on the stock exchange, for retail investors, there is a minimum lock-in period of 6 months after listing on the stock exchange.
How to sell Greenzo Energy unlisted shares?
Once the selling price and quantity of shares is agreed with us, we will provide you with a UTR number to transfer the shares. Once you have transferred the shares into our company’s demat account, funds are released into your bank account within 24 hours or before the end of the next working day of the transfer of the shares.