GP Eco Solutions India IPO: Check Subscription Status, GMP Today

GP Eco Solutions India IPO, GPES Solar IPO: The initial public offering of GP Eco Solutions India Ltd has been opened for public subscription on June 14. The Rs 30.79-crore SME IPO has so far received a whopping response from investors. Till 4:55 pm on the first day of bidding on Friday, the IPO received a 59.54 times subscription, garnering bids for 12,29,67,600 shares as against 20,65,200 shares on offer.

The GP Eco Solutions India IPO, or GPES Solar IPO, will be closed on Wednesday, June 19.

The retail category has received a 85.22 times subscription, while the non-institutional investor (NII) category got a 74.96 times subscription. The QIB category received a 2.95 times subscription.

The GP Eco Solutions India IPO allotment will likely be finalised on June 20, while the listing will take place on June 24 on the NSE SME.

The price band of the GP Eco Solutions India IPO has been fixed at Rs 90-Rs 94 per share.

GP Eco Solutions India IPO GMP Today

According to market observers, unlisted shares of GP Eco Solutions India Limited are trading Rs 145 higher in the grey market as compared with its issue price. The Rs 145 grey market premium or GMP means the grey market is expecting a strong 154.26 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

About GP Eco Solutions India IPO

The GPES Solar IPO is entirely a fresh issue of 32.76 lakh shares.

The price band of the GPES Solar IPO has been fixed at Rs 90 to Rs 94 per share. The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,12,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,25,600.

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.

GP Eco Solutions India Limited’s revenue rose 25.08 per cent and its profit after tax (PAT) increased 33.43 per cent in the financial year 2022-23.

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.