GPES Solar IPO will open for subscription from 14 June 2024. The company aims for an issue size of ₹30.79 Cr through this IPO.
Company Overview
| Full name | GP Eco Solutions India Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://www.gpecosolutions.com/ |
About Company
GP Eco Solutions India is a leading distributor of solar inverters and solar panels in North India. The company provides comprehensive solar energy solutions, including engineering, procurement, and construction (EPC) services for both commercial and residential clients. 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 holds authorized distributorships with Sungrow India Pvt Ltd for solar inverters ‘Sungrow‘, Saatvik Green Energy Private Limited ‘Saatvik‘, and LONGi Solar Technology Co. Ltd ‘LONGi‘ for solar panels. GP Eco Solutions India business vertical:
- Distributor of Solar Inverters and solar panel
A. On-grid Solar Inverter
B. Hybrid Solar Inverter & Batteries
C. Solar Panel - Solar EPC
- Operation and maintenance of Solar plant
Additionally, the company is an authorized distributor serving a wide range covering regions such as Jammu & Kashmir, Himachal Pradesh, Punjab, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh etc.
The Objectives of the Issue
- To Meet Working Capital requirements of the Company;
- Investment in the 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; and
- General Corporate Expenses.
GPES Solar IPO Timetable
| IPO Opening date | 14 June 2024 |
| IPO Closing | 19 June 2024 |
| Basis of Allotment | 20 June 2024 |
| Initiation Refund | 21 June 2024 |
| Credit to Demat Account | 21 June 2024 |
| Listing Date | 24 June 2024 |
GPES Solar IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹30.79 Cr – 3,276,000 shares |
| Fresh Issue | ₹30.79 Cr – 3,276,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹90 to ₹94 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 327,600 shares |
| Shareholding pre-issue | 8,434,800 |
| Shareholding post-issue | 11,710,800 |
| Listing Exchange | NSE SME |
GPES Solar IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹112,800 |
| Retail (Max) | 1 | 1200 | ₹112,800 |
| HNI (Min) | 2 | 2,400 | ₹225,600 |
GPES Solar IPO Documents
GPES Solar IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 883,200 (26.96%) |
| Market Maker Shares Offered | 327,600 (10.00%) |
| QIB Shares Offered | 589,200 (17.99%) |
| NII (HNI) Shares Offered | 444,000 (13.55%) |
| Retail Shares Offered | 1,032,000 (31.50%) |
| Total Shares Offered | 3,276,000 (100%) |
GPES Solar Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 46.47 | 83.45 | 101.21 | 78.40 |
| Expenses | 45.18 | 79.78 | 99.42 | 72.20 |
| Net income | 0.97 | 2.77 | 3.70 | 4.73 |
GPES Solar Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.35 | 3.85 | 5.14 |
| PE ratio | – | – | 17.51 – 18.29 |
| RONW (%) | 80.55 | 87.60 | 57.79 |
| NAV | 2.47 | 6.32 | 11.46 |
| ROCE (%) | 30.16 | 44.15 | 14.24 |
| EBITDA (%) | 3.43 | 5.15 | 3.01 |
| Debt/Equity | 1.98 | 1.14 | 1.60 |
Company Promoters
- Mr. Deepak Pandey
- Mrs. Anju Pandey
- Mr. Astik Mani Tripathi
Promoter Holding
| Pre Issue Share Holding | 86.4% |
| Post Issue Share Holding | 62.23% |
GPES Solar Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 22 June 2024 | 165 | – | 1,63,000 |
| 21 June 2024 | 167 | – | 1,70,000 |
| 20 June 2024 | 160 | – | 1,51,000 |
| 19 June 2024 | 164 | – | 1,55,000 |
| 18 June 2024 | 155 | – | 1,48,000 |
| 17 June 2024 | 148 | – | 1,43,000 |
| 15 June 2024 | 132 | – | 1,26,000 |
| 14 June 2024 | 125 | – | 1,21,000 |
| 13 June 2024 | 100 | – | 1,05,000 |
GPES Solar IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 5,89,200 | 4,44,000 | 10,32,000 | 20,65,200 |
| 19 Jun 2024 | 236.64 | 1825.61 | 793.20 | 856.37 |
| 18 Jun 2024 | 9.48 | 390.36 | 356.46 | 264.75 |
| 14 Jun 2024 | 2.95 | 75.05 | 85.56 | 59.73 |
GPES Solar IPO Allotment Status
GPES Solar IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
GPES Solar IPO Listing Details
| Listing Date | 24 June 2024 |
| BSE Scrip Code | – |
| NSE Symbol | GPECO |
| ISIN | INE0S7E01015 |
| Final Issue Price | ₹94 per share |
GPES Solar IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹94.00 |
| Open | ₹375.00 |
| Low | ₹375.00 |
| High | ₹393.75 |
| Last Trade | ₹393.75 |
GPES Solar IPO Lead Manager(s)
CORPORATE CAPITALVENTURES PRIVATE LIMITED
B1/E13, First Floor, Mohan Co-operative Industrial Estate,
Mathura Road, New Delhi – 110044
Phone: +91 11 – 41824066
Email: smeipo@ccvindia.com
Website: www.ccvindia.com
GPES Solar Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
GPES Solar Contact Details
GP ECO SOLUTIONS INDIA LIMITED
B-39, Sector-59, Gautam Buddha Nagar,
Noida, Uttar Pradesh, India, 201301
Phone: +91 – 8960095217
E-mail: cs@gpecosolutions.com
Website: www.gpecosolutions.com
GPES Solar IPO FAQs
What is the GPES Solar offer size?
GPES Solar’s offer size is ₹ 29.48 – 30.79 crores.
What is the GPES Solar offer price band?
GPES Solar’s public offer price is ₹ 90 – 94 per share.
What is the lot size of the GPES Solar Offer?
GPES Solar offers a lot size of 1,200 shares.
What is GPES Solar Offer GMP today?
GPES Solar IPO GMP today is ₹ 165 per share.
What is the GPES Solar kostak rate today?
GPES Solar kostak rate today is ₹ NA per application.
What is GPES Solar Subject to the Sauda rate today?
GPES Solar is Subject to the Sauda rate today, which is ₹ 1,63,000 per application.
Final thoughts
GPES Solar IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
