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GP Eco Solutions IPO is a book build issue of ₹30.79 crores. The issue is entirely a fresh issue of 0.33 crore shares of ₹30.79 crore.
GP Eco Solutions IPO bidding started from Jun 14, 2024 and ended on Jun 19, 2024. The allotment for GP Eco Solutions IPO was finalized on Jun 20, 2024. The shares got listed on NSE SME on Jun 24, 2024.
GP Eco Solutions IPO price band is set at ₹94.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,08,000 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,25,600.
Corporate Capitalventures Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is SS Corporate Securities Ltd..
Refer to GP Eco Solutions IPO RHP for detailed Information.
| IPO Date | June 14, 2024 to June 19, 2024 |
| Listing Date | June 24, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹90 to ₹94 per share |
| Issue Price Final | ₹94 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 32,76,000 shares (aggregating up to ₹30.79 Cr) |
| Reserved for Market Maker | 3,27,600 shares SS Corporate Securities Ltd. (aggregating up to ₹3.08 Cr) |
| Net Offered to Public | 29,48,400 shares (aggregating up to ₹27.71 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 84,34,800 shares |
| Share Holding Post Issue | 1,17,10,800 shares |
GPES Solar IPO offers total 32,76,000 shares. Out of which 14,72,400 (44.95%) allocated to QIB, 5,89,200 (17.99%) allocated to QIB, 4,44,000 (13.55%) allocated to NII, 10,32,000 (31.50%) allocated to RII and 8,83,200 (26.96%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,27,600 (10.00%) |
| QIB Shares Offered | 14,72,400 (44.95%) |
| − Anchor Investor Shares Offered | 8,83,200 (26.96%) |
| − QIB (Ex. Anchor) Shares Offered | 5,89,200 (17.99%) |
| NII (HNI) Shares Offered | 4,44,000 (13.55%) |
| Retail Shares Offered | 10,32,000 (31.50%) |
| Total Shares Offered | 32,76,000 (100.00%) |
GP Eco Solutions IPO raises ₹8.30 crore from anchor investors. GP Eco Solutions IPO Anchor bid date is June 13, 2024. GP Eco Solutions IPO Anchor Investors list
| Bid Date | June 13, 2024 |
| Shares Offered | 8,83,200 |
| Anchor Portion Size (In Cr.) | 8.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 18, 2024 |
GP Eco Solutions IPO opens on June 14, 2024, and closes on June 19, 2024.
| IPO Open Date | Fri, Jun 14, 2024 |
| IPO Close Date | Wed, Jun 19, 2024 |
| Tentative Allotment | Thu, Jun 20, 2024 |
| Initiation of Refunds | Fri, Jun 21, 2024 |
| Credit of Shares to Demat | Fri, Jun 21, 2024 |
| Tentative Listing Date | Mon, Jun 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jun 19, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,12,800 |
| Retail (Max) | 1 | 1,200 | ₹1,12,800 |
| HNI (Min) | 2 | 2,400 | ₹2,25,600 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
GP Eco Solutions India Limited was founded in 2010 and offers solar inverters and solar panels.
The company offers solar energy solutions by providing comprehensive engineering, procurement, and construction ("EPC") services to commercial and residential customers. The company also distributes hybrid solar inverters and lithium ferro-phosphate (LFP) batteries through its own "Invergy" brand. Invergy is active in the OEM manufacturing of hybrid and LFP products.
The company is an authorized dealer of Sungrow India Pvt Ltd or "Sungrow" for Solar Inverters in North India, as well as for Saatvik Green Energy Private Limited or "Saatvik" and LONGi Solar Technology Co Ltd or "LONGi" for solar panels in North India.
GP Eco Solutions India Limited's revenue increased by 25.08% and profit after tax (PAT) rose by 33.43% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,728.75 | 4,715.19 | 1,904.89 | 1,429.81 |
| Total Income | 7,858.88 | 10,447.63 | 8,352.99 | 4,652.91 |
| Profit After Tax | 473.27 | 369.82 | 277.17 | 96.94 |
| Net Worth | 1,298.08 | 824.81 | 454.98 | 177.81 |
| Reserves and Surplus | 578.08 | 804.81 | 434.98 | 157.81 |
| Total Borrowing | 1,544.79 | 1,316.52 | 517.55 | 351.37 |
| Amount in ₹ Lakhs | ||||
The market capitalization of GP Eco Solutions IPO is ₹110.08 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| ROE | 44.59% |
| ROCE | 26.51% |
| Debt/Equity | 1.11 |
| RoNW | 42.70% |
| PAT Margin | 8.15% |
| Price to Book Value | 5.21 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.38 | 5.39 |
| P/E (x) | 21.44 | 17.44 |
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
[Dilip Davda] The company is in distribution of solar inverters and panels which is a highly competitive and fragmented segment. The company posted steady growth in its top and bottom lines for FY21 to FY23, but its bottom line boosted for 9M-FY24 that raise eyebrows and concern over its sustainability. Based on FY24 annualized super earnings, the issue appears fully priced. Well-informed/cash surplus investors may park moderate funds for long term rewards. Read detail review...
| Listing Date | June 24, 2024 |
| BSE Script Code | |
| NSE Symbol | GPECO |
| ISIN | INE0S7E01015 |
| Final Issue Price | ₹94 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹94.00 |
| Open | ₹375.00 |
| Low | ₹375.00 |
| High | ₹393.75 |
| Last Trade | ₹393.75 |
GP Eco Solutions India Ltd.
B-39,
Sector-59,
Gautam Buddha Nagar,
Noida, Uttar Pradesh, 201301
Phone: +91 - 8960095217
Email: cs@gpecosolutions.com
Website: https://www.gpecosolutions.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
GP Eco Solutions IPO is a SME IPO of 32,76,000 equity shares of the face value of ₹10 aggregating up to ₹30.79 Crores. The issue is priced at ₹94 per share. The minimum order quantity is 1200.
The IPO opens on June 14, 2024, and closes on June 19, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in GP Eco Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in GP Eco Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GP Eco Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The GP Eco Solutions IPO opens on June 14, 2024 and closes on June 19, 2024.
GP Eco Solutions IPO lot size is 1200, and the minimum amount required for application is ₹1,12,800.
You can apply in GP Eco Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for GP Eco Solutions IPO will be done on Thursday, June 20, 2024, and the allotted shares will be credited to your demat account by Friday, June 21, 2024. Check the GP Eco Solutions IPO allotment status.
The GP Eco Solutions IPO listing date is on Monday, June 24, 2024.
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