Schedule of GP Eco Solutions India
| Issue open date | 14 Jun 2024 |
| Issue close date | 19 Jun 2024 |
| UPI mandate deadline | 19 Jun 2024 (5 PM) |
| Allotment finalisation | 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 |
Note: The 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 can be checked on the registrar's website and the exchange website.
About GP Eco Solutions India
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 authorised 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.
Financials of GP Eco Solutions India
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹30.79 crores |
| Fresh issue | ₹30.79 crores |
| Offer for sale | – |
*All figures except EPS are in ₹ Crores
Risks
- 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.