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 opens for subscription on June 14, 2024 and closes on June 19, 2024. The allotment for the GPES Solar IPO is expected to be finalized on Thursday, June 20, 2024. GPES Solar IPO will list on NSE SME with tentative listing date fixed as Monday, 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.
GPES Solar IPO Details
| IPO Date | June 14, 2024 to June 19, 2024 |
| Listing Date | [.] |
| 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 Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
GPES Solar IPO Anchor Investors Details
GPES Solar IPO raises Rs 8.30 crore from anchor investors. GPES Solar IPO Anchor bid date is June 13, 2024.
| 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 Timeline (Tentative Schedule)
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 |
GPES Solar IPO Lot Size
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 | |||
GPES Solar IPO Promoter Holding
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% |
About GP Eco Solutions India Limited
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 Financial Information (Restated)
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 | ||||
Key Performance Indicator
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 |
Check GPES Solar IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.38 | 5.39 |
| P/E (x) | 21.44 | 17.44 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (GPES Solar IPO Objectives)
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- To Meet Working Capital requirements of the Company;
- Investment in the subsidiary, Invergy India Private Limited (“IIPL”) in relation to Purchase of Plant & Machineries and other Miscellaneous Assets and also towards Construction / Civil Works for its facility; and
- General Corporate Expenses.
GPES Solar IPO Prospectus
GP Eco Solutions India Limited Contact Details
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/
GPES Solar IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html