GP Eco Solutions India IPO opens for subscription: All you need to know
The initial public offering of GP Eco Solutions India opens for subscription today (June 14).
The IPO of the integrated solar energy solutions provider will conclude on June 19. The price band of the issue has been set in the range of ₹90 to ₹94 per share. The lot size of the IPO is 2,000 shares and the floor price is 9 times of the face value while the cap price is 9.40 times of the face value of the equity shares.
GP Eco Solutions India IPO details
The ₹30.79 crore IPO by the Noida-based company includes a fresh issue of 32,76,000 equity shares with a face value of ₹10 via book-building process. The issue reserves 3.27 lakh equity shares 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. There is no offer-for-sale component in the IPO.
GP Eco Solutions India IPO objectives
Net proceeds from the IPO will be used by the company to meet working capital requirement invest in its subsidiary Invergy India Private Limited and general corporate expenses.
GP Eco Solutions India IPO registrar
The book running lead manager of the IPO is Corporate Capitalventures Pvt Ltd and Bigshare Services Pvt Ltd serving as the registrar. Ss Corporate Securities is the market maker for the IPO.
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