IPO Details

Bidding Dates

14 Jun '24 - 19 Jun '24

Minimum Investment

₹1,12,800/1 Lot ( 1,200 Shares )

Price Range

₹90 - ₹94

Maximum Investment

₹1,12,800/1 Lot ( 1,200 Shares )

Retail Discount

To be announced

Issue Size

₹30.79 Cr

Investor category and sub category

Qualified Institutional Buyers (QIBs)  |   Retail Individual Investors (RIIs)  |   Non-institutional Investors (NIIs)  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jun 14, 2024

IPO Closing Date

Jun 19, 2024

Basis of Allotment

Jun 20, 2024

Initiation of Refunds

Jun 21, 2024

Credit of Shares to Demat

Jun 21, 2024

IPO Listing Date

Jun 24, 2024

Cut-off time for UPI mandate confirmation

Jun 19, 2024

About GP Eco Solutions India Limited

GP Eco Solutions India Limited, originally founded as GP Eco Solutions India Private Limited on July 30, 2010, transformed into a public limited company in November 2023. The company is a key player in the solar energy industry in North India. It is recognised for its distribution of solar inverters and solar panels and operates as an authorised distributor for Sungrow India Pvt Ltd, Saatvik Green Energy Private Limited, and LONGi Solar Technology Co. Ltd.

GP Eco Solutions excels in providing integrated solar energy solutions, primarily focusing on engineering, procurement, and construction (EPC) services tailored to both commercial and residential sectors. Although EPC constitutes a smaller portion of its business compared to distribution, it significantly enhances the company's offerings in the solar energy domain.

Under its proprietary brand, Invergy, GP Eco Solutions specialises in the manufacture and distribution of hybrid solar inverters and lithium ferro phosphate (LFP) batteries. Invergy is distinguished by its robust quality and reliable protocols for contract manufacturing, ensuring that all products meet stringent standards.

The company is ISO 9001:2015 certified, highlighting its commitment to maintaining high standards in quality management systems. GP Eco Solutions' business model encompasses three primary verticals: distribution of solar inverters and panels, solar EPC services, and operation and maintenance services for solar plants.

In terms of distribution, the company offers a variety of solar products, including Sungrow residential, commercial, and utility inverters. It also deals with different types of Saatvik and LONGi solar panels catering to diverse solar energy requirements.

For EPC services, GP Eco Solutions undertakes projects where clients invest in capital expenditures while the company manages the engineering, procurement, construction, and operations. This division has successfully commissioned several government projects, enhancing its reputation in the solar industry.

Additionally, the company provides comprehensive operation and maintenance services for its constructed solar plants, ensuring long-term functionality and efficiency.

Overall, GP Eco Solutions India Limited stands out in the solar industry for its extensive product range, commitment to quality, and comprehensive service offerings, making it a pivotal entity in advancing solar energy solutions across North India.

Industry Outlook:

  1. The projected global growth slowdown, especially in advanced economies, may heighten demand for cost-effective renewable energy solutions, such as solar panels and inverters. This would offer GP Eco Solutions strategic expansion opportunities in markets seeking energy cost reductions.
  2. With an expected recovery in global economic conditions by 2024, GP Eco Solutions can anticipate increased investment in renewable energy infrastructure, leveraging their comprehensive solar solutions and EPC services to capture emerging market demands.

GP Eco Solutions India Limited IPO Objectives

The company intends to utilise the Net Fresh Issue Proceeds for the following Objects :

  1. To meet the working capital requirements of the company “GP Eco Solutions”;
  2. Investment in their subsidiary - Invergy India Private Limited (“IIPL”) concerning the purchase of plant & machinery and other miscellaneous assets and also towards construction / civil works for its facility; and
  3. General corporate expenses

Peer Details

The GP Eco Solutions India’s listed peers includes only one company - Sungarner Energies Limited.

How to Check the Allotment Status of the GP Eco Solutions India Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the Individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of GP Eco Solutions India Limited IPO

  • Registered office: B-39, Sector-59, Gautam Buddha Nagar, Noida, Uttar Pradesh, India, 201301
  • Phone: +91 - 8960095217
  • E-mail:cs@gpecosolutions.com

IPO Financials

Particulars Period ending on Dec 31, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Revenue from Operations (in ₹ lakh) 7840.37 10121.24 8344.76 4646.82
Profit After Tax (PAT) (in ₹ lakh) 473.27 369.82 277.17 96.94
Cash & Cash Equivalents (in ₹ lakh) 11.55 5.93 11.36 52.48
Net Worth (in ₹ lakh) 1,298.08 824.81 454.98 177.81
Debt to Equity Ratio(x) 1.11 1.60 1.14 1.98
Return on Equity (%) 42.70 57.79 87.60 80.55
Return on Capital Employed (RoCE) (%) 25.65 14.23 44.09 30.12
Earning Per Share (EPS)-in absolute ₹ 6.57 5.14 3.85 1.35

Know before investing


  1. Partnerships with Sungrow, Saatvik, LONGi boost GP Eco Solutions.

  2. Founder Deepak Pandey leads with over 13 years' of expertise.

  3. ISO 9001:2015 certification underscores commitment to quality standards.

  4. High customer retention through strong, long-term relationships.


  1. GP Eco Solutions risks high credit with ₹400 lakh guarantees.

  2. Bank defaults could strain finances or harm banking relations.

  3. The company depends heavily on a few suppliers for 92.96% of its materials.

  4. Top ten vendors' dominance raises supply chain disruption risks.

  5. Key client dependency is high; the top 10 generate 57.01% of revenue.

  6. Losing major clients could significantly impact a company's financial health.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

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GP Eco Solutions IPO FAQs

What is GP Eco Solutions India Limited IPO?

GP Eco Solutions India Limited IPO is a fixed-price IPO. The IPO will be open from June 14, 2024, to June 19, 2024.

When will GP Eco Solutions India Limited IPO be allotted?

The Basis of Allotment will happen on Thursday, June 20, 2024.

When will GP Eco Solutions India Limited IPO open for subscription?

The IPO subscription window will open on June 14, 2024.

What minimum lot size can retail investors subscribe to?

The lot size for GP Eco Solutions India Limited’s IPO is 1 lot of 1,200 shares, with a minimum investment of ₹1,12,800.

When will GP Eco Solutions India Limited list on exchanges?

The listing date for GP Eco Solutions India Limited is Monday, June 24, 2024.

What would be the listing gains on the GP Eco Solutions India Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the GP Eco Solutions India Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for GP Eco Solutions India Limited IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of GP Eco Solutions India Limited using one PAN?

You can submit only one application using your PAN card.