GP Eco Solutions India IPO booked 856 times on last day: Check subscription, allotment status and listing

GP Eco Solutions India Ltd IPO was booked a whopping 856 times on Wednesday, June 19, the final day of bidding. The ₹30.79-crore initial public offering received a robust response from both retail and non-institutional investors.

According to exchange data, the SME IPO received applications for over 176.85 crore shares against 20.65 lakh shares on offer for public investors. The issue was overall booked more than 856 times.

Retail investors placed bids for over 81.85 crore shares against 10,32,000 shares reserved for them, leading to a subscription of 793 times.

The non-institutional investors (NIIs) placed bids for 81.05 crore shares compared to 4,44,000 shares on offer. The category was booked 1,825 times.

The qualified institutional buyers (QIBs) category was subscribed to around 237 times, with applications for 13.94 crore received against 5,89,200 shares on offer for the category.

Earlier, the company raised ₹8.3 crore from anchor investors by allotting 8,83,200 shares.

GP Eco Solutions India Ltd IPO offer size, price band and other details

GP Eco Solutions India Ltd (GPES Solar) launched its IPO on June 14, 2024, to raise a total of ₹30.79 crore from public investors. The issue comprised a fresh issue of 32.76 lakh shares. The book-built issue was priced at ₹90 to ₹94 per share. The minimum lot size was 1,200 shares, amounting to an investment of ₹1,12,800 for retail investors. The issue was launched on the NSE SME platform.

Corporate Capitalventures Pvt Ltd is the book running lead manager. Bigshare Services Pvt Ltd is the registrar for the IPO while SS Corporate Securities is the market maker of the issue.

GP Eco Solutions India Ltd IPO allotment

The company is expected to announce the share allotment status on Thursday, June 20. Refunds and credit of shares to demat accounts will be initiated on June 21. The company has proposed to list shares on NSE SME on Monday, June 24.

About GP Eco Solutions India Ltd

GP Eco Solutions India (GPES Solar) is engaged in the distribution of solar inverters and solar panels. The company is an authorised distributor of Sungrow India for solar inverters in North India. GLES Solar is also an authorised distributor for Saatvik Green Energy and LONGi Solar Technology for solar panels in North India.

The company has proposed to invest around ₹7.6 crore in its subsidiary, Invergy India Private Limited, for the purchase of plant and machinery and other miscellaneous assets; and also towards construction/ civil works for its facility.

The company has proposed to utilise ₹12.45 crore to meet the working capital requirement of GPSE Solar.

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