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GPES Solar IPO is a book built issue of Rs 30.79 crores. The issue is entirely a fresh issue of 32.76 lakh shares.
GPES Solar IPO bidding started from June 14, 2024 and ended on June 19, 2024. The allotment for GPES Solar IPO was finalized on Thursday, June 20, 2024. The shares got listed on NSE SME on June 24, 2024.
GPES Solar IPO price band is set at ₹90 to ₹94 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹112,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹225,600.
Corporate Capitalventures Pvt Ltd is the book running lead manager of the GPES Solar IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for GPES Solar IPO is Ss Corporate Securities.
Refer to GPES Solar IPO RHP for detailed information.
| IPO Date | June 14, 2024 to June 19, 2024 |
| Listing Date | June 24, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹90 to ₹94 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 3,276,000 shares (aggregating up to ₹30.79 Cr) |
| Fresh Issue | 3,276,000 shares (aggregating up to ₹30.79 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,434,800 |
| Share holding post issue | 11,710,800 |
| Market Maker portion | 327,600 shares Ss Corporate Securities |
GPES Solar IPO offers 3,276,000 shares. 589,200 (17.99%) to QIB, 444,000 (13.55%) to NII, 1,032,000 (31.50%) to RII and 883,200 (26.96%) to Anchor investors.
| 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 IPO raises Rs 8.30 crore from anchor investors. GPES Solar IPO Anchor bid date is June 13, 2024. GPES Solar IPO Anchor Investors list
| Bid Date | June 13, 2024 |
| Shares Offered | 883,200 |
| Anchor Portion Size (In Cr.) | 8.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 18, 2024 |
GPES Solar IPO opens on June 14, 2024, and closes on June 19, 2024.
| IPO Open Date | Friday, June 14, 2024 |
| IPO Close Date | Wednesday, June 19, 2024 |
| Basis of Allotment | Thursday, June 20, 2024 |
| Initiation of Refunds | Friday, June 21, 2024 |
| Credit of Shares to Demat | Friday, June 21, 2024 |
| Listing Date | Monday, June 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 19, 2024 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹112,800 |
| Retail (Max) | 1 | 1200 | ₹112,800 |
| HNI (Min) | 2 | 2,400 | ₹225,600 |
| Lot Size Calculator | |||
Mr. Deepak Pandey, Mrs. Anju Pandey, and Mr. Astik Mani Tripathi are the promoters of the company.
| Share Holding Pre Issue | 86.4% |
| Share Holding Post Issue | 62.23% |
GP Eco Solutions India Limited was founded in 2010 and offers solar inverters and solar panels.
The company offers solar energy solutions by providing comprehensive engineering, procurement, and construction ("EPC") services to commercial and residential customers. 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 is an authorized dealer of Sungrow India Pvt Ltd or "Sungrow" for Solar Inverters in North India, as well as for Saatvik Green Energy Private Limited or "Saatvik" and LONGi Solar Technology Co Ltd or "LONGi" for solar panels in North India.
GP Eco Solutions India Limited's revenue increased by 25.08% and profit after tax (PAT) rose by 33.43% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,728.75 | 4,715.19 | 1,904.89 | 1,429.81 |
| Revenue | 7,858.88 | 10,447.63 | 8,352.99 | 4,652.91 |
| Profit After Tax | 473.27 | 369.82 | 277.17 | 96.94 |
| Net Worth | 1,298.08 | 824.81 | 454.98 | 177.81 |
| Reserves and Surplus | 578.08 | 804.81 | 434.98 | 157.81 |
| Total Borrowing | 1,544.79 | 1,316.52 | 517.55 | 351.37 |
| Amount in ₹ Lakhs | ||||
The market capitalization of GPES Solar IPO is Rs 110.08 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 44.59% |
| ROCE | 26.51% |
| Debt/Equity | 1.11 |
| RoNW | 42.70% |
| P/BV | 5.21 |
| PAT Margin (%) | 8.15 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.38 | 5.39 |
| P/E (x) | 21.44 | 17.44 |
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
[Dilip Davda] The company is in distribution of solar inverters and panels which is a highly competitive and fragmented segment. The company posted steady growth in its top and bottom lines for FY21 to FY23, but its bottom line boosted for 9M-FY24 that raise eyebrows and concern over its sustainability. Based on FY24 annualized super earnings, the issue appears fully priced. Well-informed/cash surplus investors may park moderate funds for long term rewards. Read detail review...
The GPES Solar IPO is subscribed 856.21 times on June 19, 2024 6:19:57 PM. The public issue subscribed 793.20 times in the retail category, 236.64 times in the QIB category, and 1,824.87 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 236.64 |
| NII | 1,824.87 |
| Retail | 793.20 |
| Total | 856.21 |
Total Application : 682,151 (793.20 times)
| Listing Date | June 24, 2024 |
| BSE Script Code | |
| NSE Symbol | GPECO |
| ISIN | INE0S7E01015 |
| Final Issue Price | ₹94 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹94.00 |
| ₹375.00 |
| ₹375.00 |
| ₹393.75 |
| ₹393.75 |
GP Eco Solutions India Limited
B-39, Sector-59,
Gautam Buddha Nagar,
Noida - 201301
Phone: +91 - 8960095217
Email: cs@gpecosolutions.com
Website: https://www.gpecosolutions.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Check our SME IPO Guide 
GPES Solar IPO is a SME IPO of 3,276,000 equity shares of the face value of ₹10 aggregating up to ₹30.79 Crores. The issue is priced at ₹90 to ₹94 per share. The minimum order quantity is 1200 Shares.
The IPO opens on June 14, 2024, and closes on June 19, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in GPES Solar IPO using UPI as a payment gateway. Zerodha customers can apply in GPES Solar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GPES Solar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The GPES Solar IPO opens on June 14, 2024 and closes on June 19, 2024.
GPES Solar IPO lot size is 1200 Shares, and the minimum amount required is ₹112,800.
You can apply in GPES Solar IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for GPES Solar IPO will be done on Thursday, June 20, 2024, and the allotted shares will be credited to your demat account by Friday, June 21, 2024. Check the GPES Solar IPO allotment status.
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