Bookbuilding IPO | ₹31 Cr | Listed at NSE SME | Fri, Jun 14, 2024 - Wed, Jun 19, 2024
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 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,12,800 (1200 shares) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Jun 14, 2024
IPO Close
Wed, Jun 19, 2024
Issue Price
₹94 per share
Market Cap (Pre-IPO)
₹110.08 Cr
| IPO Date | 14 to 19 Jun, 2024 |
| Listed on | Mon, Jun 24, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹90 to ₹94 |
| Issue Price | ₹94 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 32,76,000 shares (agg. up to ₹31 Cr) |
| Reserved for Market Maker | 3,27,600 shares SS Corporate Securities Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 29,48,400 shares (agg. up to ₹28 Cr) |
| Net Offered to Public | 29,48,400 shares (agg. up to ₹28 Cr) |
| Share Holding Pre Issue | 84,34,800 shares |
| Share Holding Post Issue | 1,17,10,800 shares |
| NSE Symbol | GPECO |
| ISIN | INE0S7E01015 |
GP Eco Solutions IPO comprises a total issue size of 32,76,000 shares. The net offer to the public is 29,48,400 shares, after excluding 3,27,600 shares allotted on a firm basis. Of the Net offer 14,72,400 (49.94%) are allocated to QIB, 4,44,000 (15.06%) allocated to NII 10,32,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 14,72,400 | 49.94% | 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 | 15.06% | 13.55% |
| Retail Shares Offered | 10,32,000 | 35.00% | 31.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,27,600 | 10.00% | |
| Total Shares Offered | 32,76,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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 |
GP Eco Solutions IPO raises ₹8.30 crore from anchor investors. GP Eco Solutions IPO Anchor bid date is June 13, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Jun 13, 2024 |
| Shares Offered | 8,83,200 |
| Anchor Portion (₹ Cr.) | 8.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jul 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Sep 18, 2024 |
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.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 47.29 | 47.15 | 19.05 | 14.30 |
| Total Income | 78.59 | 104.48 | 83.53 | 46.53 |
| Profit After Tax | 4.73 | 3.70 | 2.77 | 0.97 |
| NET Worth | 12.98 | 8.25 | 4.55 | 1.78 |
| Reserves and Surplus | 5.78 | 8.05 | 4.35 | 1.58 |
| Total Borrowing | 15.45 | 13.17 | 5.18 | 3.51 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Meet Working Capital requirements of our Company “GP Eco Solutions” | 12.45 |
| 2 | Investment in our subsidiary, Invergy India Private Limited (“IIPL”) in relation to Purchase of Plant & Machineries and other Miscellaneous Assets; and also towards Construction / Civil Works for its facility | 7.60 |
| 3 | General Corporate Expenses | 7.06 |
| KPI | Dec 31, 2023 |
|---|---|
| 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 (₹) | 4.38 | 5.39 |
| P/E (x) | 21.44 | 17.44 |
| Promoter Holding | 86.4% | 62.23% |
| Market Cap | ₹110.08 Cr. |
The GPES Solar IPO is subscribed 856.21 times on June 19, 2024 6:19:57 PM (Day 3). The public issue subscribed 793.2 times in the retail category, 236.64 times in the QIB category, and 1,824.87 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 236.64 | 5,89,200 | 13,94,25,600 |
| NII* | 1,824.87 | 4,44,000 | 81,02,41,200 |
| Retail | 793.2 | 10,32,000 | 81,85,81,200 |
| Total | 856.21 | 20,65,200 | 1,76,82,48,000 |
Total Application : 6,82,151
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees | 0.30 |
| 2 | Selling and Distribution expense | 1.39 |
| 3 | Underwriting Commission | 1.54 |
| 4 | Advertising and marketing expenses | 0.15 |
| 5 | Fees payable to Registrar to the Issue | 0.04 |
| 6 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable | 0.01 |
| 7 | Processing fees to the SCSBs and to the Sponsor Banks for ASBA Forms procured by Registered Brokers, RTAs or CDPs | 0.01 |
| 8 | Printing and distribution of issue stationery | 0.02 |
| 9 | Listing fees | 0.01 |
| 10 | NSE Processing fee | 0.00 |
| 11 | Book Building software fees | 0.04 |
| 12 | Other regulatory expenses | 0.15 |
| 13 | Fees payable to legal counsel | 0.01 |
| 14 | Miscellaneous | 0.03 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹94.00 |
| Open | ₹375.00 |
| Low | ₹375.00 |
| High | ₹393.75 |
| Last Trade | ₹393.75 |
Lead Manager Reports
GP Eco Solutions IPO is a SME IPO of 32,76,000 equity shares of the face value of ₹10 aggregating up to ₹31 Crores. The issue is priced at ₹94 per share. The minimum order quantity is 1200.
The IPO opens on Fri, Jun 14, 2024, and closes on Wed, Jun 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 Fri, Jun 14, 2024 and closes on Wed, Jun 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 Fri, Jun 21, 2024. Check the GP Eco Solutions IPO allotment status.
The GP Eco Solutions IPO listing date is on Mon, Jun 24, 2024.
