GP Eco Solutions India was incorporated on July 30, 2010. The company is involved in the distribution of a wide range of solar inverters and solar panels. It is an authorized distributor of Sungrow India, Saatvik Green Energy, and LONGi Solar Technology. Additionally, it serves as an integrated solar energy solutions provider, delivering comprehensive engineering, procurement, and construction services to commercial and residential customers. It also has its own brand, Invergy, to sell hybrid solar inverters and lithium ferro phosphate batteries.
| Bidding Dates |
|---|
| 14 Jun 2024 - 19 Jun 2024 |
| Subscription |
|---|
| 739.12x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,08,000 | 1 | 1 | 1200 | 3.3 M | ₹90 - ₹94 | 62.23 % | ₹294.8 M - ₹307.9 M | RHP DOC |
GP Eco Solutions IPO SUBSCRIPTION STATUS
19 Jun '24GP Eco Solutions IPO overall subscription rate was 739.12 times the total available shares
GP Eco Solutions IPO retail subscription rate was 977.43 times in the retail segment
GP Eco Solutions IPO non-institutional investor subscription rate was 2258.36 times in the non-institutional investor category
GP Eco Solutions IPO Qualified Institutional Bidder subscription rate was 116.54 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
19 Jun 2024 (Day 3) | 977.43x | 2258.36x | 116.54x |
18 Jun 2024 (Day 2) | 439.25x | 482.9x | 4.67x |
14 Jun 2024 (Day 1) | 105.43x | 92.84x | 1.45x |
GP Eco Solutions FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 47.3 | 784.0 | -9.3 | -32.1 | 10.0% |
| FY23 | 37.0 | 1,012.1 | -57.4 | -63.5 | 3.4% |
| FY22 | 27.7 | 834.5 | -60.0 | -66.3 | 5.5% |
| FY21 | 9.7 | 464.7 | 37.9 | 24.0 | 3.8% |
GP Eco Solutions IPO SUBSCRIPTION STATUS DETAILS
GP Eco Solutions had 3.3 M shares on offer
GP Eco Solutions IPO offer price was in the range ₹90 - ₹94
GP Eco Solutions IPO minimum Investment was ₹108000
GP Eco Solutions IPO issue size was ₹ 294.8 M - ₹ 307.9 M
GP Eco Solutions had a minimum lot size of 1200 Shares per application
GP Eco Solutions NUMBER OF SHARES ON OFFER
GP Eco Solutions IPO IMPORTANT DATES
| Issue Open Date | 14 Jun 2024 |
| Issue close Date | 19 Jun 2024 |
| Allotment Date | 20 Jun 2024 |
| Refund Date | 20 Jun 2024 |
| Demat Account Credit Date | 21 Jun 2024 |
| Listing Date | 24 Jun 2024 |
| Listing on Exchange(s) | NSE |
| GP Eco Solutions Allotment Status | Exchange |
GP Eco Solutions IPO subscription opened on 14 Jun 2024, and closed on 19 Jun 2024
IPO allotment for GP Eco Solutions was finalized on Thursday, 20 Jun 2024
IPO listing for GP Eco Solutions was on NSE on Monday, 24 Jun 2024
GP Eco Solutions IPO LISTING GAINS
| Issue Price (adjusted) | 94.0 |
| Listing Open Price | 375.0 |
| Listing Close Price | 393.8 |
| Listing Gain% | 298.9% |
| Current Gain% | 328.0% |
GP Eco Solutions Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GP Eco Solutions India Ltd. | 402.4 | 471.2 | 12.4 | 0 | 1.1 | 36.4 | 9.1 | 417.7 | 68.8 | 40.1 | 287.1 | 32.5 | 267.7 |
| Havells India Ltd. | 1288 | 80750.1 | 49.4 | 3.2 | 3.4 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Waaree Energies Ltd. | 2717 | 78154.9 | 20.5 | 0.3 | 2.6 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Apar Industries Ltd. | 16631 | 66829.5 | 56.6 | 1.7 | 2.7 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 294 | 34 |
| Premier Energies Ltd. | 1047.2 | 47537.8 | 28.6 | 0.5 | 5.6 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Honeywell Automation India Ltd. | 37900 | 33509.3 | 60.8 | 7.9 | 7.1 | 11.8 | 8.4 | 4860.9 | 11.2 | 525 | 0.3 | 623.3 | 7.7 |
GP Eco Solutions INFORMATION ON IPO ISSUE
About GP Eco Solutions
GP Eco Solutions India was incorporated on July 30, 2010. The company is involved in the distribution of a wide range of solar inverters and solar panels. It is an authorized distributor of Sungrow India, Saatvik Green Energy, and LONGi Solar Technology. Additionally, it serves as an integrated solar energy solutions provider, delivering comprehensive engineering, procurement, and construction services to commercial and residential customers. It also has its own brand, Invergy, to sell hybrid solar inverters and lithium ferro phosphate batteries.
Object of the Issue
- To meet the working capital requirements of the company
- Investment in the subsidiary, Invergy India, related to the purchase of plant & machinery and other miscellaneous assets and also towards construction / civil works for its facility
- General corporate expenses
GP Eco Solutions - PROMOTERS
| Name |
|---|
| Deepak Pandey |
| Anju Pandey |
| Astik Mani Tripathi |
GP Eco Solutions Lead Manager to the Issue
Corporate Capital Ventures Private Limited
smeipo@ccvindia.com
GP Eco Solutions Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
GP Eco Solutions Strengths
Strategic partnerships
The company is an authorized distributor for Sungrow, Saatvik, and LONGi, signifying strong partnerships with industry brands. This association adds credibility and ensures access to high-quality and reliable products
Quality assurance
The company's dedicated internal quality control team ensures compliance with good standard practices. It gives prime focus to providing quality, certified by ISO 9001:2015 for the quality management system
GP Eco Solutions Risks
Dependent on one product
A significant portion of the company's revenues is dependent upon the sale of solar inverters. The loss of this product, or a decrease in its supply or volume, will materially and adversely affect the company's revenues and profitability
Entering into new business
A significant portion of the company's revenues is dependent upon the sale of solar inverters. The loss of this product, or a decrease in its supply or volume, will materially and adversely affect the company's revenues and profitability
IPO FAQs
The promoters of the company are Deepak Pandey, Anju Pandey and Astik Mani Tripathi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 90.0 - 94.0.
The IPO application opens on Jun 14, 2024 and closes on Jun 19, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 108,000.0, the maximum value for this IPO is Rs 112,800.0.
This IPO will be allotted on Jun 20, 2024.
The refund will be credited to your account on Jun 20, 2024.
The allotted shares will be credited to your demat on Jun 21, 2024.
GP Eco Solutions India Ltd.’s shares listed on the stock exchanges on Jun 24, 2024.