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GPES Solar IPO
Price Band
₹90.0–94.0
Issue Size
₹30.79 Cr
Lot Size
1,200 shares
Min Investment
₹112,800
GMP
+₹181.0 (192.55%)
Issue Price
₹94.0
Subject to Sauda
₹165100
Paid only if allotted
GPES Solar IPO AI Summary
- GPES Solar IPO is listed on NSE SME in the Other Electrical Equipment sector.
- Price band: ₹90.0–₹94.0 per share, lot size 1,200 shares (min. investment ₹112,800).
- Subscription window: 14 Jun–19 Jun 2024, listing on 24 Jun 2024.
- Current GMP is +₹181.0 (192.55%), an estimated listing price of ₹275 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
GPES Solar IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 19 Jun 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
GPES Solar IPO Grey Market Premium (GMP) Today
GMP
+₹181.0
GMP %
+192.55%
Est. Listing
₹275.0
Updated: 25 Jul 2026 14:05
About the Company
GP Eco Solutions India Limited was founded in 2010 and offers solar inverters and solar panels. The company offers solar energy solutions by providing comprehensive engineering, procurement, and construction ("EPC") services to commercial and residential customers. The company also distributes hybrid solar inverters and lithium ferro-phosphate (LFP) batteries through its own "Invergy" brand. Invergy is active in the OEM manufacturing of hybrid and LFP products. The company is an authorized dealer of Sungrow India Pvt Ltd or "Sungrow" for Solar Inverters in North India, as well as for Saatvik Green Energy Private Limited or "Saatvik" and LONGi Solar Technology Co Ltd or "LONGi" for solar panels in North India.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 47.29 | 47.15 | 19.05 | 14.30 |
| Total Income | 78.59 | 104.48 | 83.53 | 46.53 |
| Profit After Tax | 4.73 | 3.70 | 2.77 | 0.97 |
| NET Worth | 12.98 | 8.25 | 4.55 | 1.78 |
| Reserves and Surplus | 5.78 | 8.05 | 4.35 | 1.58 |
| Total Borrowing | 15.45 | 13.17 | 5.18 | 3.51 |
Key Ratios
EPS
₹4.38
NAV
₹18.03
ROE
44.59%
ROCE
26.51%
RoNW
42.70%
P/B Value
5.21
P/E Ratio
21.44
Market Cap
₹110.08 Cr
PAT Margin
8.15%
Debt/Equity
1.11
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Sungarner Energies Limited | 19.1 | 23.18% | 59.14 | 6.35 | 6.35 |
| GP Eco Solutions India Limited This IPO | 11.46 | 57.79% | — | 5.14 | 5.14 |
Promoters
Deepak Pandey, Anju Pandey and Astik Mani Tripathi
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Meet Working Capital requirements of our Company “GP Eco Solutions” 12.45 2 Investment in our subsidiary, Invergy India Private Limited (“IIPL”) in relation to Purchase of Plant & Machineries and other Miscellaneous Assets; and also towards Construction / Civil Works for its facility 7.60 3 General Corporate Expenses 7.06
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹46.53 Cr in the year ending 31 Mar 2021, increasing to ₹83.53 Cr by 31 Mar 2022, and further rising to ₹104.48 Cr by 31 Mar 2023. However, total income decreased to ₹78.59 Cr by 31 Dec 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹0.97 Cr in the year ending 31 Mar 2021, rising to ₹2.77 Cr by 31 Mar 2022, and further increasing to ₹3.70 Cr by 31 Mar 2023. By 31 Dec 2023, Profit After Tax reached ₹4.73 Cr, indicating a positive trend in profitability.
Valuation
At the issue price of ₹94.0, GP Eco Solutions India Limited has an implied P/E ratio of 21.44, compared to peers trading at a P/E of 59.14.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO. A higher GMP suggests strong demand and potential for listing gains, while a lower GMP may indicate weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their financial goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making an investment decision.
Who May Want to Wait
Investors who are risk-averse or prefer stable returns may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on 14 June 2024 and closes on 19 June 2024. Allotment of shares will be done on 20 June 2024, with the listing date set for 24 June 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from GPES Solar's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is GPES Solar IPO GMP today?
GPES Solar IPO GMP today is +₹181.0 (192.55%), indicating an estimated listing price of ₹275. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of GPES Solar IPO?
The price band of GPES Solar IPO is ₹90.0–₹94.0 per share.
When does GPES Solar IPO open and close?
GPES Solar IPO opens on 14 June 2024 and closes on 19 June 2024.
When does GPES Solar IPO list on the stock exchange?
GPES Solar IPO listed on 24 June 2024 at ₹275.0.
What is the lot size for GPES Solar IPO?
The lot size for GPES Solar IPO is 1200 shares, requiring a minimum investment of ₹112,800.
What is the price band for the GP Eco Solutions IPO?
The price band for the GP Eco Solutions IPO is ₹90.0 to ₹94.0.
What is the minimum investment required?
The minimum investment required is ₹112,800, which corresponds to a lot size of 1200 shares.
When is the listing date for the IPO?
The listing date for the IPO is 24 June 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO in the grey market.
What are the allotment and subscription dates?
The IPO opens on 14 June 2024 and closes on 19 June 2024, with allotment on 20 June 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
14 Jun 2024
Close
19 Jun 2024
Allotment
20 Jun 2024
Listing
24 Jun 2024
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