GP Eco Solutions India Limited, a leading solar energy solutions provider, had a spectacular debut on the NSE Emerge platform, with its stock listing at ₹375, marking a 299% premium over the IPO price of ₹94. The IPO saw remarkable investor interest, with the QIB portion subscribed 236.64 times, the NII portion 1825.61 times, and the RII portion 793.2 times, totalling an 856.37 times subscription. The IPO involved issuing 32.76 lakh equity shares, managed by Corporate Capital Ventures and registered by Bigshare Services Private Limited.
GP Eco aims to raise ₹30.79 crore from the issue, planning to use ₹12.45 crore for working capital and ₹7.6 crore to invest in its subsidiary, Invergy India Private Limited, for new facility setup and machinery procurement. The remaining funds will support general corporate purposes.
Founded in 2010 by Deepak Pandey, GP Eco distributes solar inverters and panels, provides EPC services, and offers O&M for solar plants. Its brand ‘Invergy’ features hybrid solar inverters and lithium ferro phosphate batteries. The company partners with Sungrow India Pvt Ltd, Saatvik Green Energy Private Limited, and LONGi Solar Technology Co. Ltd. Deepak Pandey, with over 20 years in the solar industry, driving the company’s growth and development.
