GP Eco Solutions India, a leading provider of integrated solar energy solutions based in Noida, is set to launch its initial public offering (IPO) on June 14, with subscription closing on June 19. The IPO, priced between ₹90 to ₹94 per share, will include a fresh issue of 3,276,000 equity shares. Let’s explore the details of the offering and the company’s operations:
1. Offering Details:
- Price Range: The IPO price band has been set at ₹90 to ₹94 per share, with a lot size of 2,000 shares.
- Issue Size: The IPO comprises a fresh issue of 3,276,000 equity shares, valued at approximately ₹30.79 crore.
- Usage of Proceeds: The net proceeds from the fresh issue will be utilized for various purposes, including working capital requirements, investment in subsidiary Invergy India Private Limited, and general corporate expenses.
2. Subscription Breakdown:
- Segment Allocation: The IPO reserves 3.27 lakh equity shares for market makers, 8.83 lakh for anchor investors, 4.44 lakh for non-institutional investors (NIIs), 5.89 lakh for qualified institutional buyers (QIBs), and 10.32 lakh for retail investors.
- Subscription Period: Investors can subscribe to the IPO from June 14 to June 19.
3. Company Operations:
- Product Portfolio: GP Eco Solutions distributes a range of solar inverters and panels, serving as an authorized distributor for Sungrow India Pvt Ltd, Saatvik Green Energy Private Limited, and LONGi Solar Technology Co. Ltd.
- Financial Performance: The company reported a revenue of ₹78.40 crore and a profit of ₹4.73 crore during the first nine months of the fiscal year ending December 31, 2023. In the fiscal year 2022-23, it recorded sales of ₹101.21 crore and a profit of ₹3.7 crore.
Conclusion:
With its IPO, GP Eco Solutions aims to capitalize on the growing demand for solar energy solutions and expand its operations. The offering presents an opportunity for investors to participate in the renewable energy sector and support the company’s growth initiatives.
