Gp Eco Solutions India Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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GP Eco

CMP

440.40

+73.40 (20.00%)

  • DRHP
₹94

Offer Price

₹ 30.79 Cr

Issue Size

₹ 1,12,800

Min Investment

1,200

Lot size

Time Line

  • 14
    Jun 2024
    Open
  • 19
    Jun 2024
    Close
  • 20
    Jun 2024
    Finalisation of Basis of Allotment
  • 20
    Jun 2024
    Initiation of Refunds
  • 21
    Jun 2024
    Transfer of Shares to Demat Account
  • 24
    Jun 2024
    Listing Date

Objects of the Offer

  • Further explore initiatives to strengthen control over its supply chain.

  • Increase geographical presence.

Products & Services

  • GP Eco Solutions India Limited is involved in the distribution of a wide range of solar inverters and solar panels. The company also has its own brand called "Invergy".

Strengths

  • Experienced Promoter and management team with strong industry expertise and successful track record.

  • The Company has long term relationships with marquee brands supported by its committed strategy on engagement with customers.

  • Good track record for the last 3 years.

  • Distributorship of Sungrow, Saatvik, Longi in Northern India.

Risks

  • The Company has availed Bank Guarantees of Rs. 320.00 Lakh vide dated July 22, 2022 and Rs. 80.00 Lakh vide dated August 17, 2022 in favour of M/s Sungrow India Private Limited pertaining to facilities for the procurement and distribution of products obtained from M/S Sungrow India Private Limited. The company cannot assure that there will be no default done by the company in the future.

  • Its lenders have charged over the company fixed assets and book debts in respect of finance availed by it.

  • The company depends on third parties for the supply of its products and such third parties could fail to meet their obligations, which may have a material adverse effect on its business, results of operations and financial condition.

  • The company has not entered into any long-term agreements with its vendors and any shift in their decisions could adversely affect its business. Additionally, the company is dependent upon its vendors for fulfilment of needs of the company customers. Its inability to maintain relationships with the company vendors or deficiency in the goods provided by such vendors may adversely affect its business, results of operations, cashflow and profitability.

  • Its top ten clients contribute approximately 33.20%, 57.01%, and 51.76% of its revenues from operations for the year ended March 31, 2023, March 31, 2022 and March 31, 2021 respectively. Any loss of business from one or more of them may adversely affect its revenues and profitability.

Company Promoters

Promoters Holding

Issue For IPO
23.83%
Pre Holding

85.19%

Post Holding

61.36%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 83.45 (79.60%) 101.21 (21.30%) 57.79 (-)
Gross Profit 83.45 (79.60%) 101.21 (21.30%) 57.79 (-)
Net Income 83.45 (79.60%) 101.21 (21.30%) 57.79 (-)
Assets 83.45 (79.60%) 101.21 (21.30%) 57.79 (-)
Liabilities 83.45 (79.60%) 101.21 (21.30%) 57.79 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
GP Eco Solutions India Ltd 101.21 3.70 21.41 13.16 57.79 0.00 412.41 1.64 0.62
Sungarner Energies Ltd 17.32 0.74 10.15 10.15 23.18 4.43 19.09 7.32 1.32

Book Running Managers

  • Corporate Capitalventures Pvt Ltd

Registrar & Transfer Agent

Bigshare Services Pvt Ltd

Office No 56-2,
Pinnacle Busine.Park,
Mahakali Caves Road - Mumbai - 400093
Phone : 91-22-62638200 Fax: 91-22-63638299

Company Contact Information

B-39 Sector-59,
Gautam Buddha Nagar,
Noida - 201301
Phone : +91 89600 95217 Email : cs@gpecosolutions.com www.gpecosolutions.com

Offer Related Information

Public issue of 32,76,000 equity shares of face value of Rs. 10 each ("Equity Shares") of GP Eco Solutions India Limited (the "Company" or the "Issuer") for cash at a price of Rs. 94 per equity (the "Issue Price") aggregating to Rs. 30.79 crores ("The Issue") comprising of a fresh issue of 32,76,000 equity shares aggregating to Rs. 30.79 crores (the "Fresh Issue") of which 3,27,600 equity shares aggregating to Rs. 3.08 crores will be reserved for subscription by market maker to the issue (the... More

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