GP Eco Solutions India IPO Subscribed 30 Times on Day 1 – Exceptional Demand for Solar Energy Stock!

The initial public offering (IPO) of GP Eco Solutions India Ltd has witnessed exceptional demand right from its opening day. The company, known for its solar energy solutions, experienced bids far exceeding the available shares.

Subscription Details

As of June 14, the GP Eco Solutions IPO has been oversubscribed by 30.44 times. This means the public issue received bids for 6.28 crore equity shares against the offering of 20.65 lakh shares.

• Retail investors showed the highest interest, subscribing 47.20 times their allotted shares.
• Non-Institutional Investors (NIIs) subscribed 31.82 times, indicating strong demand from high net-worth individuals.
• Qualified Institutional Bidders (QIBs) had minimal interest, with bids covering only 0.02 times the shares available.

Grey Market Premium (GMP)

In the grey market, GP Eco Solutions’ shares were trading at ₹239 per share, reflecting a premium of 154.26% over the issue price of ₹94 per share.

Key IPO Details

• The price band for GP Eco Solutions IPO is set between ₹90 to ₹94 per share.
• The company aims to raise ₹30.79 crore through a fresh issue of 32.76 lakh equity shares.
• Retail investors need to invest a minimum of ₹112,800 to participate in the IPO.
• Post-IPO, promoter shareholding will decrease to 86.4% from the current 62.23%.

Timeline and Management

• The IPO opened on June 14 and will close on June 19.
• Allotment of shares is expected on June 20, with trading on the NSE SME platform scheduled for June 24.
• Corporate Capitalventures Pvt Ltd is the book running lead manager, while Bigshare Services Pvt Ltd is the IPO registrar.