GP Eco Solutions India IPO

Closed

Apply now
Don't have a Zerodha account? Sign up

14th – 19th Jun 2024
24 Jun 2024
₹90 – ₹94
1200 shares (₹112800)
31cr

Schedule

Issue open date 14 Jun 2024
Issue close date 19 Jun 2024
UPI mandate deadline 19 Jun 2024 (5 PM)
Allotment finalization 20 Jun 2024
Refund initiation 21 Jun 2024
Share credit 21 Jun 2024
Listing date 24 Jun 2024
Mandate end date 04 Jul 2024
Lock-in end date for anchor investors (50%) 20 Jul 2024
Lock-in end date for anchor investors (remaining) 13 Sep 2024

About

GP Eco Solutions India’s IPO is launching on June 14, 2024, with subscriptions closing on June 19, 2024. Incorporated on July 30, 2010, the company is involved in the distribution of solar inverters and solar panels. The company is an authorized distributor of Sungrow India Pvt Ltd for Solar Inverters, Saatvik Green Energy Private Limited, and LONGi Solar Technology Co. Ltd for solar panels in India.

The company serves as an integrated solar energy solutions provider, offering engineering, procurement, and construction (“EPC”) services to commercial and residential customers. The company also owns the brand “Invergy,” under which it sells hybrid solar inverters and lithium ferro-phosphate (LFP) batteries, and engages in OEM manufacturing for hybrid and LFP products. Additionally, the company has received ISO 9001:2015 certification for its Quality Management System, valid up to October 27, 2026.

Funds Raised in the IPO Amount
Overall ₹30.79 crores
Fresh Issue ₹30.79 crores
Offer for sale 0

Financial Snapshot

Financial Year Ended March 2021 March 2022 March 2023 December 2023
Total Assets 142.98 190.48 471.51 472.87
Revenue 465.29 835.29 1,044.76 785.88
Profit After Tax 9.69 27.71 36.98 47.32
EPS 1.35 3.85 5.14 6.57

*All figures except EPS are in ₹ Crores

Risk factors

  • Dependency on Third-Party Suppliers: The company depends on third parties for the supply of its products, and failure of these suppliers to meet their obligations could have a material adverse effect on the business, results of operations, and financial condition.
  • Revenue Concentration: A significant portion of the company’s revenue is derived from the states of Rajasthan, Haryana, Uttar Pradesh, and Delhi. Any adverse developments in these states could adversely affect the business.
  • Entry into New Business Line: The company is entering into a new line of business involving the assembly of Solar Hybrid Inverters through its subsidiary. Lack of prior experience in this field could adversely affect the business if operations are not managed properly.

Note:

  • The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
  • The allotment status will be available by June 21, 2024, on the Registrar’s website and the NSE website.