The IPO of GP Eco Solutions India, a company providing solar energy solutions, will be open for subscription from June 14 to June 19. Here’s a summary of the key details:
Issue Details
- Price Band: ₹90 to ₹94 per share
- Lot Size: 2,000 shares
- Equity Shares: 32,76,000 Equity Shares
- Reservation: 3.27 lakh shares for market makers, 8.83 lakh shares for anchor investors, 4.44 lakh shares for non-institutional investors (NIIs), 5.89 lakh shares for qualified institutional buyers (QIBs), and 10.32 lakh shares for retail investors
- Distribution: The company offers a variety of solar inverters and panels, including those from Sungrow India Pvt Ltd, Saatvik Green Energy Private Limited, and LONGi Solar Technology Co. Ltd. They also have their own brand, “Invergy.”
Financial Performance
- Revenue: ₹78.40 crore and profit (PAT): ₹4.73 crore in the first nine months of the fiscal year ending December 31, 2023
- Sales: ₹101.21 crore and profit (PAT): ₹3.7 crore in fiscal year 2022-23
- Revenue Sources: Uttar Pradesh contributes the most to revenue, followed by Haryana, Maharashtra, and Tamil Nadu
Utilization of Proceeds
- Working capital requirements
- Investment in subsidiary, Invergy India Private Limited, for purchasing plant and machinery, construction, and general corporate expenses
IPO Details
- Value: Approximately ₹30.79 crore
- Fresh Issuance: 3,276,000 equity shares at face value of ₹10
- Lead Manager: Corporate Capitalventures Pvt Ltd
- Registrar: Bigshare Services Pvt Ltd
- Market Maker: Ss Corporate Securities
The GP Eco Solutions IPO presents an opportunity to invest in a company operating in the solar energy sector, with a focus on sustainability and growth.
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