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GP Eco Solutions India Ltd IPO (GPES Solar): Review & GMP

  


GP Eco Solutions India Limited (GPES Solar) IPO: Complete Overview

India is 5th in Solar Power capacity in the world. The country has set an enhanced target at the COP26 of 500 GW of non-fossil fuel-based energy by 2030. India saw the highest year-on-year progress in renewable energy sector additions of 9.83% in 2022.

Today we are ready with our blog related to one of the leading Solar companies in the Energy sector.i.e. GP Eco Solutions India Limited (GPES Solar). GP Eco Solutions India Limited (GPES Solar) was founded in 2010 by Mr. Deepak Pandey. It is located at Noida, Uttar Pradesh, India. The company is driving India’s leap into a sustainable future through solar business solutions. The company specialises in delivering “Cutting-edge, High-Quality Solar Energy Products with a mission to transform India into a green future through solar prowess.

The company deals in a wide range of  Solar Panels, Solar Inverters, and Storage Solutions. It has supplied 750 MW+ across the country.

Dear readers, you would be happy to know that the company is going to offer its IPO. Below are the important facts related to the GP Eco Solutions India Limited (GPES Solar)IPO. You might be interested in investing in its IPO. So this Blog could be for you.

 

GP Eco Solutions India Limited (GPES Solar) IPO Overview

GP Eco Solutions India Limited (GPES Solar) IPO is set to open its subscription on June 14, 2024, and close on June 19, 2024, with a provisional allotment date fixed as Thursday, June 20, 2024. GP Eco Solutions India Limited (GPES Solar) IPO will be listed on NSE and SME. The price of each share is set at Rs. 90 to Rs. 94. The minimum lot size for an application is 1200 Offers. The base amount of investment required by retail financial investors is ₹1,12,800. The minimum lot size investment for HNI is 2 lots (2400 shares) amounting to ₹2,25,600.

Company Financial 

The Revenue of GP Eco Solutions India Limited (GPES Solar) is increased by 25.08% for the Financial Year 2023. and profit after tax (PAT) rose by 33.43% between the financial year ending March 31, 2023 and March 31, 2022. The net worth of the company has increased by 81.28 %. The EBITDA of the company has decreased by -25.02 %. The Total assets of the company have increased by 147.53 %, and the liabilities of the company have increased by 183.65 %. 

(Amount in Lacs)

Period

31 December 2023

31 Mar 2023

31 Mar 2022

Total Assets 

4,728.75

4,715.19

1,904.89

Total Revenue

7,858.88

10,447.63

8,352.99

PAT

473.27

369.82

277.17

Net worth

1,298.08

824.81

454.98

Reserve & Surplus 

578.08

804.81

434.98

Total Borrowings

1,544.79

1,316.52

517.55

EBITDA

656.55

1.17

-0.28

 

Revenue Bifurcation

The revenue bifurcation of the company for the year ending 31st December 2023 and the last two financial years is as follows:

(Amount in Lacs)

Particulars

31 Dec 2023

31 Mar 2023

31 Mar 2022

Income from Operation

7840.37

10121.24

8344.76

Other Income

18.51

326.39

8.23

Total Income

7858.88

10447.63 

8352.99

Expenses of materials, finance, Goods, etc

6911.24

9519.07

7238.92

Other Expenses

308.66

422.53

739.50

Total Expenses

7219.90

9941.60

7978.42

Profit Before Taxes

638.98 

506.03

374.57

Profit After Taxes

473.27

369.82

277.17

Total Tax Expenses

473.27

369.82

277.17

 

Cash Flow from Operating Activities:

  • Profit as per Profit and Loss account for the period ended Dec 2023 is 638.98 lacs.

  • The adjustment for Non Cash Expenditure is 19.60 lacs.

  • Adjustment for change In Working Capital -585.33 lacs.

  • Cash Out Flow From Operating Activity for the period ended in Dec 2023 is -92.88 lacs.
     

Cash Flow from Investing Activities:

  • Cash In Flow From Investing Activity has changed from -230.16 lacs in March 2023 to -223.67 lacs in December 2023.

  • Cash flows were involved in the purchase of fixed assets, and sale of fixed assets.

Cash Flow from Financing Activities:

  • Increase In Long Term Borrowings rose to 157.76 in Dec 2023 to -16.77 from March 2023.

  • Decrease In Short Term Borrowings went to 70.51 lacs in Dec 2023 from 815.75 lacs in March 2023.

  • Cash Outflow Flow From Financing Activity decreased to 322.16 lacs in Dec 2023 from 798.98 lacs in March 2023.

The Objective of the Issue

The Issue Proceeds from the Fresh Issue will be utilised towards the following objects:

  1. To Meet the Working Capital requirements of the Company.

  2. Investment in the subsidiary, Invergy India Private Limited ("IIPL") with a view to Purchase Plant & Machinery and other useful Assets and also towards Construction / Civil Works for its facility.

  3. General Corporate Expenses.

 

Peers of GP Eco Solutions India Limited (GPES Solar)

Name of the Company

Face Value (Rs)

EPS (Rs) (Basic)

P/E Ratio

Sungarner Energies Limited

10

4.43

59.14

 

Evaluation

The IPO issue price is set at Rs. 90 to Rs. 94 per share. 

Evaluation of P/E Ratio

The P/E Ratio of GP Eco Solutions India Limited (GPES Solar) IPO is not available.

Comparative Analysis with Listed Peers

The average P/E Ratio of the industry is not available.

 

IPO's Strengths 

  • The company is an approved distributor for Sungrow (a noticeable sunlight-based inverter producer) and Saatvik and LONGi,( a solar panel maker), which implies solid relations with industry brands.

  • The company provides quality in its products and services.

  • Their existing client relationships help them to get repeat business from their customers hence helping in the increase in their financial assets.

 

IPO's Weaknesses

  • High Competition in the market is creating instability in the sector.

  • Dust and high temperatures are contributing to significant high costs in operating the Solar Power Plants in the country.

  • The Company faces high operating expenses and intense pricing competition.

 

IPO GMP Today

The Latest GMP of the GP Eco Solutions India Limited (GPES Solar) IPO is Rs.168.

 

GP Eco Solutions India Limited (GPES Solar) IPO timetable (Tentative)

GP Eco Solutions India Limited (GPES Solar) IPO is scheduled from June 14 to June 19, 2024, with allotment on June 20, refund initiation on June 21, and listing on June 24, 2024.

Events 

Date

IPO Opening Date

June 14, 2024

IPO Closing Date

June 19, 2024

IPO Allotment Date 

June 20, 2024

Refund initiation 

June 21, 2024

IPO Listing Date

June 24, 2024

 

GP Eco Solutions India Limited (GPES Solar) IPO Details 

GP Eco Solutions India Limited (GPES Solar) IPO with a face value of Rs.10 per share is set to start on June 14 and close on 19 June and will offer a total issue size of 3,276,000 shares with a price band of Rs. 90 to Rs. 94 per share aggregating up to Rs.30.79 crores.

IPO opening & closing date 

June 14, 2024 to June 19, 2024

Face value 

Rs.10 per share

Issue Price

Rs.90 to Rs.94 per share

Lot Size

1200 Shares

Price of 1 lot

Rs.1,12,800

Issue Size

3,276,000 shares (aggregating up to ₹30.79 Cr)

Offer for sale 

Not available

Fresh issue 

3,276,000 shares (aggregating up to ₹30.79 Cr)

Listing at

NSE, SME

Issue Type 

Book Built Issue IPO

Registrar 

Bigshare Services Pvt Ltd

 

 

GP Eco Solutions India Limited (GPES Solar) IPO Lot Details 

GP Eco Solutions India Limited (GPES Solar) IPO allows retail investors to invest in a minimum of  1200 shares at Rs.1,12,800, and a maximum is also the same, while for HNI investors, the minimum lot is 2 (2400 shares) at Rs.2,25,600.

Minimum Lot Investment (Retail) 

1 lot

Maximum Lot Investment (Retail) 

1 lot

Minimum Lot Investment (HNI) 

2 lots

 

GP Eco Solutions India Limited (GPES Solar) IPO Reservation

Other Investors share Portion

65%

Retail Investors share Portion

35%

 

Promoters and Management of GP Eco Solutions India Limited (GPES Solar) IPO

The promoters of this IPO are Mr. Deepak Pandey, Mrs. Anju Pandey, and Mr. Astik Mani Tripathi.

Share Holding Pre-issue in this scheme is 86.4% and Share Holding Post-issue is 62.23%.

 

GP Eco Solutions India Limited (GPES Solar) Lead Managers:

  • Corporate Capital Ventures Pvt Ltd

Dividend Policy

The company has not declared any dividends in any Financial Year.

 

 

Conclusion

The company is primarily involved in the Solar Energy sector. The company is offering an IPO in the coming days of this month. The company has seen growth and increment in its total assets and liabilities. Based on its performance and facts, it is a good idea to invest in this IPO. We hope this blog will be really helpful in knowing about the factual data of the company, and its performance. If the data, and facts presented in this blog attract you then you can think of taking part and leverage the benefits that it will provide in the market. However, we advise our potential readers to first consult their financial advisor before making any investment decision in this regard.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

Disclaimer: This IPO analysis is only for informational purposes and should not be considered as investment advice. Always do your research and consult with a financial advisor.

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Frequently Asked Questions

+

The IPO is set to open on June 14, 2024.

+

The issue price of the IPO is Rs.90 to Rs. 94 for each share.

 

+

The total issue size of the IPO is up to Rs. 30.79 crore.

+

The IPO closing date is June 19, 2024.

+

The issue proceeds from the fresh issue will be utilized towards meeting the Working Capital requirements of the company, investment in the subsidiary, Invergy India Private Limited with a view to purchasing Plant & Machinery and other useful Assets, and also towards Construction / Civil Works for its facility, and other General Corporate Expenses.



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