Mark Your Calendars!
Attention, investors! GP Eco Solutions India, a leading integrated solar energy solutions provider, is opening its much-anticipated initial public offering (IPO) for subscription. The IPO kicks off on Friday, June 14th, and runs through Wednesday, June 19th.
What’s the Deal?
The company is offering shares at a price band of ₹90 to ₹94 apiece. With a lot size of 2,000 shares, the floor price stands at 9 times the face value, while the cap price is set at 9.40 times the face value of the equity shares.
Fresh Issue Highlights
Hailing from Noida, GP Eco Solutions is releasing a fresh issue of 32,76,000 Equity Shares with a face value of ₹10 through a book-building process.
Here’s how the allocation breaks down:
- Market Makers: 3.27 lakh equity shares
- Anchor Investors: 8.83 lakh equity shares
- Non-Institutional Investors (NIIs): 4.44 lakh equity shares
- Qualified Institutional Buyers (QIBs): 5.89 lakh equity shares
- Retail Investors: 10.32 lakh equity shares
A Leading Solar Player
As outlined in the Red Herring Prospectus (RHP), GP Eco Solutions offers a comprehensive range of solar inverters and panels.
- Authorized Distributor: They’re an authorized distributor for Sungrow India Pvt Ltd’s solar inverters, and both Saatvik Green Energy Private Limited and LONGi Solar Technology Co. Ltd’s solar panels in North India.
- Homegrown Brand: They’ve also developed their own successful brand, “Invergy.”
Strong Financial Performance
GP Eco has a track record of impressive financial results.
- Robust Revenue: During the first nine months of the current fiscal year (ending December 31, 2023), the company generated ₹78.40 crore in revenue.
- Healthy Profits: They also achieved a profit (PAT) of ₹4.73 crore during the same period.
- Positive Growth: In the previous fiscal year, the firm recorded ₹101.21 crore in sales and ₹3.7 crore in profit (PAT).
- Geographic Reach: Uttar Pradesh contributes the most to GP Eco’s revenue stream, followed by Haryana, Maharashtra, and Tamil Nadu.
IPO Details and Use of Proceeds
- Total Value: The GP Eco Solutions IPO, valued at ₹30.79 crore, consists solely of a fresh issuance of 3,276,000 equity shares at a face value of ₹10.
The company intends to use the net proceeds for:
- Working capital requirements
- Investing in its subsidiary, Invergy India Private Limited (“IIPL”), for plant and machinery, other assets, and construction/civil works
- General corporate expenses
The IPO Team
- Book Running Lead Manager: Corporate Capitalventures Pvt Ltd
- Registrar: Bigshare Services Pvt Ltd
- Market Maker: Ss Corporate Securities
Ready to Invest in a Greener Future?
Don’t miss out on this exciting opportunity to invest in the rapidly growing solar energy sector. Mark your calendars for June 14th and be a part of GP Eco Solutions India’s journey!
