Active Stocks
Thu Jun 20 2024 15:56:35
  1. Tata Steel share price
  2. 182.35 1.28%
  1. HDFC Bank share price
  2. 1,669.00 0.66%
  1. ITC share price
  2. 423.35 -0.08%
  1. Tata Motors share price
  2. 978.10 0.07%
  1. State Bank Of India share price
  2. 843.80 -1.03%
Business News/ Markets / Ipo/  GP Eco Solutions India IPO to open for subscription on June 14; price band set at 90-94 apiece
BackBack

GP Eco Solutions India IPO to open for subscription on June 14; price band set at ₹90-94 apiece

GP Eco Solutions India IPO commences for subscription on June 14 and concludes on June 19 with a price band of ₹90-94 per share. The company plans to issue 32,76,000 Equity Shares via book-building process. Distribution includes solar inverters and panels.

 GP Eco Solutions India IPO will commence for subscription on Friday, June 14, and will conclude on Wednesday, June 19. (www.gpecosolutions.com/)Premium
GP Eco Solutions India IPO will commence for subscription on Friday, June 14, and will conclude on Wednesday, June 19. (www.gpecosolutions.com/)

GP Eco Solutions India IPO: The initial public offering of GP Eco Solutions India, an integrated solar energy solutions provider, will commence for subscription on Friday, June 14, and will conclude on Wednesday, June 19. The issue's price band has been set in the range of 90 to 94 per share. The GP Eco Solutions IPO lot size is 2,000 shares. The floor price is 9 times of the face value and the cap price is 9.40 times of the face value of the equity shares.

The Noida-based company's IPO would include a fresh issue of 32,76,000 Equity Shares having a face value of 10- via the book-building process. 3.27 lakh equity shares have been reserved for market makers, 8.83 lakh equity shares for anchor investors, 4.44 lakh equity shares for non-institutional investors (NIIs), 5.89 lakh equity shares for qualified institutional buyers (QIBs), and 10.32 lakh equity shares for retail investors.

Also Read: ixigo IPO booked over 4 times on day 2 so far on strong demand from retail investors; check GMP, subscription status

According to the Red Herring Prospectus (RHP), the firm distributes a wide selection of solar inverters and panels. The firm is an authorized distributor of Sungrow India Pvt Ltd or "Sungrow" for solar inverters in North India, as well as Saatvik Green Energy Private Limited or "Saatvik" and LONGi Solar Technology Co. Ltd or "LONGi" for solar panels in North India. The firm also has its own brand, "Invergy".

The company's listed peer is Sungarner Energies Ltd (with a P/E of 59.14). GP Eco generated a healthy revenue of 78.40 crore and a profit (PAT) of 4.73 crore during the first nine months of the current fiscal year, which concluded on December 31, 2023. In fiscal year 2022-23, the firm generated 101.21 crore in sales and 3.7 crore in profit (PAT). Uttar Pradesh contributes the most to GP Eco's revenues, followed by Haryana, Maharashtra, and Tamil Nadu.

Also Read: ixigo IPO day 2: GMP, subscription status to review. Should you apply to Le Travenues Technology IPO?

GP Eco Solutions IPO details 

The GP Eco Solutions IPO, valued at about 30.79 crore, consists of a fresh issuance of 3,276,000 equity shares at face value of 10. There is no offer-for-sale component. 

The company intends to use the net fresh issue proceeds for the following purposes: meeting the company's working capital requirements; investing in its subsidiary, Invergy India Private Limited ("IIPL") in relation to the purchase of plant and machinery and other miscellaneous assets, as well as construction / civil works for its facility; and general corporate expenses.

Corporate Capitalventures Pvt Ltd is the book running lead manager for the GP Eco Solutions IPO, with Bigshare Services Pvt Ltd serving as the registrar. Ss Corporate Securities is the market maker for GP Eco Solutions IPO.

Also Read: ixigo IPO: 10 key risks investors should consider before subscribing to the 740-crore issue

Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.

 

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 11 Jun 2024, 02:15 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started