GP Eco Solutions India files DRHP for IPO with NSE Emerge

GP Eco Solutions India Ltd, the Noida-headquartered integrated solar energy solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge to launch its initial public offering (IPO).

GP Eco Solutions IPO is an SME IPO and comprises a fresh issuance of 32.76 lakh equity shares, with a face value of ₹10 each.

According to the DRHP, GP Eco proposes to utilize ₹12.45 crore of the IPO proceeds to meet the working capital requirements of the company and plans to invest ₹7.6 crore in its subsidiary, Invergy India Private Limited (IIPL), to procure plant and machinery and for setting up a new facility.

The remaining funds will be used for general corporate purposes. 

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GP Eco Solutions IPO Lead Managers

Corporate Capital Ventures Pvt Ltd is the Book Running Lead Manager for the GP Eco Solutions IPO, while Bigshare Services Pvt Ltd is the IPO registrar. 

About GP Eco Solutions

GP Eco Solutions was founded in 2010 by Deepak Pandey. It distributes a wide range of solar inverters and solar panels. It also provides comprehensive EPC services to commercial and residential customers and O&M of solar plants. The company is also an authorized distributor of Sungrow India Pvt Ltd, Saatvik Green Energy Private Limited and LONGi Solar Technology Co. Ltd for solar panels in North India. 

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GP Eco Solutions Financials

GP Eco achieved a revenue of ₹78.40 crore and earned a net profit of ₹4.73 crore during the nine months of the current fiscal year, which ended December 31, 2023. The company reported a revenue of ₹101.21 crore and a net profit of ₹3.70 crore in FY 2022-23. 

The company derives a significant portion of its revenues from Uttar Pradesh distantly followed by Haryana, Maharashtra and Tamil Nadu. 

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