GP Eco Solutions India IPO to open for subscription on June 14; price band set at ₹90-94 apiece

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₹90 to ₹94 per share. The GP Eco Solutions IPO lot size is 2,000 shares. The floor price is 9 times of the face value and the cap price is 9.40 times of the face value of the equity shares.The Noida-based company's IPO would include a fresh issue of 32,76,000 Equity Shares having a face value of ₹10- via the book-building process.

3.27 lakh equity shares have been reserved for market makers, 8.83 lakh equity shares for anchor investors, 4.44 lakh equity shares for non-institutional investors (NIIs), 5.89 lakh equity shares for qualified institutional buyers (QIBs), and 10.32 lakh equity shares for retail investors.Also Read: ixigo IPO booked over 4 times on day 2 so far on strong demand from retail investors; check GMP, subscription statusAccording to the Red Herring Prospectus (RHP), the firm distributes a wide selection of solar inverters and panels. The firm is an authorized distributor of Sungrow India Pvt Ltd or "Sungrow" for solar inverters in North India, as well as Saatvik Green Energy Private Limited or "Saatvik" and LONGi Solar Technology Co. Ltd or "LONGi" for solar panels in North India.

The firm also has its own brand, "Invergy".The company's listed peer is Sungarner Energies Ltd (with a P/E of 59.14). GP Eco generated a healthy revenue of ₹78.40 crore and a profit (PAT) of ₹4.73 crore during the first nine months of the current fiscal year, which concluded on December 31, 2023. In fiscal year 2022-23, the firm generated ₹101.21 crore in sales and ₹3.7 crore in profit (PAT).