About Gretex Corporate Services Limited

Gretex Corporate Services Limited is a SEBI-registered Category-I Merchant Banker providing end-to-end advisory and execution support across India’s capital markets. Incorporated in 2008, the company has built a diversified financial services platform spanning IPO advisory, corporate finance, restructuring, valuations, and compliance, with a focus on helping enterprises transition from private to public markets efficiently and compliantly. Gretex was listed on the BSE SME platform on August 9, 2021, marking a major milestone in its own capital market journey.

The company’s services include SME and Mainboard IPO advisory, corporate strategy and restructuring, valuation and financial advisory, private placements and PE advisory, mergers and acquisitions, debt syndication and credit advisory, and compliance and regulatory filings. These solutions are delivered through integrated teams handling due diligence, structuring, documentation, investor outreach, and post-listing support. Gretex caters to clients across diverse sectors such as Hi-Tech, Healthcare, Manufacturing, Financial Services, Retail, Energy, and Public Sector Enterprises, reflecting its broad exposure to India’s growth economy. The company’s registered and corporate offices are located in Mumbai, with a branch office in Kolkata, and a pan-India client base.

Gretex operates as part of an integrated financial ecosystem combining merchant banking, broking, and wealth management services, offering end-to-end capital market solutions under one umbrella. This structure enables cross-unit collaboration supported by shared platforms for CRM, analytics, and compliance. As disclosed in the company’s annual report, Gretex has one subsidiary, aligned with its capital market ecosystem strategy.

Over the years, Gretex has successfully facilitated over 50 SME IPO listings and is progressively expanding into Mainboard mandates, underlining its strong execution capability. The company has been recognised multiple times by India’s leading exchanges — BSE honoured Gretex as the “Top Volume Performer for SME IPO in India” for FY 2017–18, 2020–21, 2021–22, and 2022–23, while NSE Emerge also recognised it as a top-performing merchant banker in the SME segment.

Gretex Corporate Services Limited Key Management

• Alok Harlalka – Managing Director & Chief Financial Officer 
• Arvind Harlalka – Whole-Time Director 
• Sumeet Harlalka – Whole-Time Director 
• Bhavna Nishant Desai – Company Secretary & Compliance Officer 

Latest Updates on Gretex Corporate Services Limited

• Strategic shift to Mainboard IPOs: Gretex is transitioning from an SME IPO-dominant model to a Mainboard IPO-focused strategy. The company has filed applications with both BSE and NSE for its own migration from the SME to the Main Board, which is currently under regulatory process. 
• Execution milestone: In June 2024, Gretex successfully completed and listed one client company on the Main Board of both BSE and NSE, marking its entry into larger, institutionally driven mandates. 
• Scaling transaction size: The average IPO issue size managed by Gretex has expanded nearly 20 times — from Rs 2.29 crore in FY 2020 to Rs 46.73 crore in FY 2025 — reflecting enhanced execution capability and a growing presence in high-value mandates. 
• Methodology evolution: The company has transitioned from a fixed-price issue model (36 fixed-price vs. 16 book-built IPOs historically) to a book-built issue approach, executing 13 of its 16 book-built IPOs since FY 2024, aligning with larger and more complex deal structures. 
• Sectoral diversification: While historically concentrated in Consumer Goods, Industrial Products, and Services, the company’s recent mandates now span Hi-Tech, Healthcare, Manufacturing, Financial Services, Retail, Energy, and Public Sector Enterprises, indicating a broader client base and sectoral expansion. 
• Awards and recognitions: Gretex continues to receive recognition from BSE and NSE Emerge for its contribution to SME and start-up listings, playing a pivotal role in enhancing capital market access for Tier II and Tier III enterprises. 
• Financial strength: The company is now a 100% debt-free entity on a consolidated basis, reflecting strong financial discipline as it prepares for Mainboard operations and expanded deal flow.