GP Eco Solutions, a prominent manufacturer of solar inverters and panels, witnessed an impressive debut on the NSE SME platform today following its Initial Public Offering (IPO).
Here are the key highlights of its IPO listing and performance:
Listing Details:
IPO Price: The IPO was issued at Rs 94 per share.
Listing Price: Shares debuted on NSE SME at Rs 375.00, marking a listing gain of 298.94% for IPO investors.
Current Price: The stock surged to Rs 393.75, hitting the upper circuit on its first day of trading, representing a gain of 318.88% from the IPO price.
Strong Investor Response:
The GPES Solar IPO received overwhelming demand, being subscribed 856.21 times overall.
QIB Portion: Subscribed 236.64 times.
NII Portion: Subscribed 1,824.87 times.
Retail Portion: Subscribed 793.20 times.
Utilization of Funds:
The IPO raised Rs 30.79 crore through the issuance of 32.76 lakh new shares with a face value of Rs 10 each.
Funds raised will be allocated towards working capital requirements, investment in subsidiaries, and general corporate purposes.
Financial Performance:
Revenue Growth: GP Eco Solutions exhibited robust financial growth, with revenue reaching Rs 104.45 crore in FY 2022, growing at a CAGR of over 49% annually.
Profitability: Net profits also surged, increasing from Rs 96.94 lakh in FY 2021 to Rs 4.73 crore in the nine months of FY 2023-24 (April-December 2023).
About GP Eco Solutions:
Established in 2010, GP Eco Solutions specializes in the sale of solar inverters and panels.
The company has demonstrated consistent financial strength, marked by significant revenue growth and improving profitability over recent years.
The remarkable listing performance of GPES Solar reflects strong investor confidence in the renewable energy sector and the company’s growth prospects.
