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02 Dec 2024
GP Eco Solutions India Limited IPO
GP Eco Solutions India Limited is involved in the distribution of a wide range of solar inverters and solar panels. Their company also has its brand called “Invergy”. Under the Invergy brand, they sell hybrid solar inverters and lithium ferro phosphate (LFP) batteries. Invergy deals in OEM manufacturing for hybrid and LFP products. Energy has its own quality and reliable protocol for contract manufacturing of these products. Invergy manages its supply chain stream to provide easy and comfortable transitions.
Additionally, they serve as an integrated solar energy solutions provider, delivering comprehensive engineering, procurement and construction (“EPC”) services to their commercial and residential customers, however, the contribution of this segment is comparatively less as compared to the business of distribution of solar inverters and solar panels. 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 price band is set at ₹90 to ₹94 per share. The minimum lot size for an application is 1200 Shares. Corporate Capital Ventures 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.
GP Eco Solutions India IPO Overview
| Detail | Description |
|---|---|
| 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 |
GP Eco Solutions India IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 |
GP Eco Solutions India IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹112,800 |
| Retail (Max) | 1 | 1200 | ₹112,800 |
| HNI (Min) | 2 | 2,400 | ₹225,600 |
GP Eco Solutions India 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 |
GP Eco Solutions India IPO Promoter Holding
| Share Holding Pre Issue | 86.4% |
| Share Holding Post Issue | 62.23% |
GP Eco Solutions India IPO Anchor Investors Details
| 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 |
Company & Financials
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
| 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
| 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 |
Objectives of GP Eco Solutions India IPO
The company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
- 1. To Meet the Working Capital requirements of the Company.
- 2. Investment in the subsidiary, Energy India Private Limited ("IIPL") to the Purchase of Plant & machinery and other Miscellaneous Assets and also towards Construction / Civil Works for its facility.
- 3. General Corporate Expenses.
GP Eco Solutions India IPO Review
The company is in the 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 was boosted for 9M-FY24, raising 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.
FAQs for GP Eco Solutions India IPO
-
What is GP Eco Solutions India IPO?
GPES Solar IPO is an NSE SME IPO. They are going to raise ₹30.79 Crores via IPO. The issue is priced at ₹90 to ₹94 per equity share. The IPO is to be listed on NSE.
-
When GP Eco Solutions India IPO will open?
The IPO is to open on June 14, 2024, for QIB, NII and Retail Investors.
-
What is the GP Eco Solutions India IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15% and Retail is 35%.
-
What is GP Eco Solutions India IPO Size?
GPES Solar's IPO size is ₹30.79 crores.
-
What is the GP Eco Solutions India IPO Price Band?
GPES Solar IPO Price Band is ₹90 to ₹94 per equity share.
-
What is GP Eco Solutions India IPO Minimum and Maximum Lot Size?
The IPO bid is 1200 shares with ₹112,800.
-
What is the GP Eco Solutions India IPO Allotment Date?
GPES Solar IPO allotment date is June 20, 2024.
-
What is the GP Eco Solutions India IPO Listing Date?
GPES Solar IPO listing date is June 24, 2024. The IPO to list on NSE SME.
RHP:
RHP of GP Eco Solutions India Limited IPO
DRHP:
DRHP of GP Eco Solutions India Limited IPO
Anchor Investor Link:
Anchor Investor Link of GP Eco Solutions India Limited IPO
-
What is GP Eco Solutions India IPO?
GPES Solar IPO is an NSE SME IPO. They are going to raise ₹30.79 Crores via IPO. The issue is priced at ₹90 to ₹94 per equity share. The IPO is to be listed on NSE.
-
When GP Eco Solutions India IPO will open?
The IPO is to open on June 14, 2024, for QIB, NII and Retail Investors.
-
What is the GP Eco Solutions India IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15% and Retail is 35%.
-
What is GP Eco Solutions India IPO Size?
GPES Solar's IPO size is ₹30.79 crores.
-
What is the GP Eco Solutions India IPO Price Band?
GPES Solar IPO Price Band is ₹90 to ₹94 per equity share.
-
What is GP Eco Solutions India IPO Minimum and Maximum Lot Size?
The IPO bid is 1200 shares with ₹112,800.
-
What is the GP Eco Solutions India IPO Allotment Date?
GPES Solar IPO allotment date is June 20, 2024.
-
What is the GP Eco Solutions India IPO Listing Date?
GPES Solar IPO listing date is June 24, 2024. The IPO to list on NSE SME.
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