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About GP Eco Solutions India Ltd
GP Eco Solutions India Ltd, incorporated on July 30, 2010, as a Private Limited Company in Kanpur, later converted to a Public Limited Company on November 17, 2023. The company specializes in distributing a wide range of solar inverters and solar panels. They are authorized distributors for Sungrow India Pvt Ltd for solar inverters and Saatvik Green Energy Private Limited and LONGi Solar Technology Co. Ltd for solar panels in North India. Additionally, the company provides integrated solar energy solutions, including engineering, procurement, and construction (EPC) services for commercial and residential customers under the Invergy brand.
IPO Details
- IPO Issue Period: June 14 – June 19, 2024
- Issue Price Band: ₹90 – ₹94 per equity share
- Market Lot: 1200 shares
- Total IPO Size: ₹30.79 Crores
- Minimum Order Quantity: 1200 shares
- IPO Issue Type: Book Building Issue IPO
- Face Value: ₹10 per equity share
- Listing At: NSE
GPES Solar 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 |
GPES Solar IPO Promoter Holding
Mr. Deepak Pandey, Mrs. Anju Pandey, and Mr. Astik Mani Tripathi are the promoters of the company.
| Share Holding Pre Issue | 86.4% |
| Share Holding Post Issue | 62.23% |
Tentative IPO Timeline
| Event | Date |
|---|---|
| Opening Date | June 14, 2024 |
| Closing Date | June 19, 2024 |
| Finalization of Basis of Allotment | June 20, 2024 |
| Initiation of Refunds | June 21, 2024 |
| Transfer of Shares to Demat Account | June 21, 2024 |
| Listing Date | June 24, 2024 |
Financial Performance
Standalone Figures in ₹ Crores
| Metric | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 29.20 | 16.07 | 7.86 |
| Sales | 101.21 | 83.45 | 46.47 |
| Direct Expenditure | 103.36 | 75.03 | 41.39 |
| Gross Profit | -2.15 | 8.42 | 5.08 |
| Operating Expenditure | -9.01 | 3.74 | 3.25 |
| Operating Profit | 6.86 | 4.68 | 1.83 |
| Other Income | 3.26 | 0.08 | 0.06 |
| Interest | 1.42 | 0.67 | 0.33 |
| Depreciation | 0.38 | 0.27 | 0.15 |
| Profit Before Tax | 5.06 | 3.74 | 1.35 |
| Tax | 1.36 | 0.97 | 0.38 |
| Profit After Tax | 3.70 | 2.77 | 0.97 |
| EPS (Unadjusted) | 184.91 | 138.58 | 48.47 |
Company Objective for the IPO
The net proceeds from the IPO are proposed to be used for various purposes, including expanding the company’s distribution network, enhancing their inventory capabilities, and general corporate purposes.
SWOT Analysis
Strengths
- Strong Distribution Network: Authorized distributor for major solar inverter and panel manufacturers.
- Diverse Product Portfolio: Offers a range of solar energy solutions, including EPC services.
- Quality Certification: ISO 9001:2015 certified, ensuring high standards in quality management.
Weaknesses
- Dependence on Few Suppliers: Heavy reliance on Sungrow, Saatvik, and LONGi for products.
- Financial Volatility: Variability in gross profit and negative figures in FY23.
Opportunities
- Growing Solar Market: Increasing demand for renewable energy solutions in India.
- Government Incentives: Favorable policies and incentives for solar energy adoption.
Threats
- Market Competition: High competition from established players in the solar energy sector.
- Regulatory Risks: Changes in government policies could impact business operations.
Contact Details
- Address: GP Eco Solutions India Ltd, B-39 Sector-59, Gautam Buddha Nagar 201301
- Phone: +91 89600 95217
- Email: [email protected]
- Website: www.gpecosolutions.com
Registrar of IPO
- Registrar: Bigshare Services Pvt Ltd, Office No 56-2, Pinnacle Business Park
- Phone: +91-22-62638200
- Fax: +91-22-63638299
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Disclaimer
This article is for informational purposes only and does not constitute financial advice. Potential investors should consult with their financial advisors before making any investment decisions. All information has been sourced from reliable publications and the company’s IPO prospectus. However, we do not guarantee the accuracy or completeness of this information.
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