GP ECO Solutions India SME IPO
Founding and Core Business
GP Eco Solutions India Limited (GESIL) was founded in 2010 and specializes in offering solar energy solutions. The company provides comprehensive engineering, procurement, and construction (EPC) services to both commercial and residential customers. Additionally, GESIL distributes solar inverters and solar panels, emphasizing its role as an integrated solar energy solutions provider.
Product and Brand Offerings
GESIL distributes hybrid solar inverters and lithium ferro-phosphate (LFP) batteries under its proprietary "Invergy" brand. Invergy is also active in the OEM manufacturing of hybrid and LFP products. The company's commitment to stringent quality and reliability protocols ensures smooth and efficient transitions throughout the manufacturing process.
Authorized Dealerships GESIL holds authorization as a distributor for:
Sungrow India Pvt Ltd (Sungrow) for solar inverters in North India.
Saatvik Green Energy Private Limited (Saatvik) for solar panels in North India.
LONGi Solar Technology Co. Ltd (LONGi) for solar panels in North India.
Revenue Composition Approximately 15% of the company's revenue is generated from Invergy-branded products, while the remaining revenue comes from third-party brands. The company's sales model is heavily focused on B2B transactions, accounting for about 99.9% of its business, with a minor 0.1% derived from B2C sales as of December 31, 2023.
EPC Services While GESIL offers comprehensive EPC services, this segment contributes comparatively less to the company's business than the distribution of solar inverters and solar panels.
Promoter Holding
Pre-Issue Share Holding: 86.4%
Post-Issue Share Holding: 62.23%
Promoters: Mr. Deepak Pandey, Mrs. Anju Pandey, and Mr. Astik Mani Tripathi.
Objectives of the Issue The company intends to utilize the Net Fresh Issue Proceeds for the following purposes:
To meet working capital requirements.
Investment in its subsidiary, Invergy India Private Limited (IIPL), for the purchase of plant and machinery, construction/civil works, and other miscellaneous assets.
General corporate expenses.
IPO Key Details
IPO Dates: 14 to 19 June 2024
Price Band: ₹90 to ₹94 per share
Lot Size: 1200 shares
Total Issue Size: ₹30.79 Cr
Amount Per Lot: ₹1,12,800
Retail Quota: 31.50%
GMP (Grey Market Premium): 155% (For informational purposes only)
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