GP Eco Solutions India IPO subscribed 30 times so far on Day 1; Check GMP, price band, other key details of SME IPO

Estimated read time 11 min read

GP Eco Solutions IPO: The initial public offering (IPO) of GP Eco Solutions India Ltd has been heavily oversubscribed within hours of opening on Friday. GP Eco Solutions IPO is an SME IPO and the bidding for the issue began on June 14 and will close on June 19.

GP Eco Solutions India offers solar energy solutions and deals in solar inverters and solar panels.

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Let us check GP Eco Solutions IPO GMP, subscription status and other key details of the SME IPO.

GP Eco Solutions IPO Subscription Status

GP Eco Solutions IPO has been subscribed 30.44 times in total so far on June 14, the first day of the bidding process. The public issue received bids for 6.28 crore equity shares as compared to 20.65 lakh shares on the offer, as per data available till 1:40 pm.

The IPO has been subscribed 47.20 times in the retail category, 0.02 times in the Qualified Institutional Bidders (QIB) category and 31.82 times in the Non-Institutional Investors (NII) category so far.

Also Read: Stanley Lifestyles IPO sets price band at 351-369 apiece; check issue, key dates, more

GP Eco Solutions IPO GMP Today

GP Eco Solutions IPO GMP today, or grey market premium today, is 145 per share, according to stock market observers. This indicates that the equity shares of GP Eco Solutions India are trading higher by 145 than their issue price, in the grey market. The latest GMP trend shows the GP Eco Solutions shares are trading at 239 apiece in the grey market, a hefty premium of 154.26% to the issue price of 94 per share.

GP Eco Solutions IPO Details

GP Eco Solutions IPO opened for subscription on Friday, June 14 and will close on Wednesday, June 19. The IPO allotment is expected to be finalized on June 20 and the IPO listing date is June 24.

GP Eco Solutions IPO is an SME IPO and the equity shares of the company will be listed on NSE SME.

Read here: GP Eco Solutions India IPO to open for subscription on June 14; price band set at 90-94 apiece

GP Eco Solutions IPO price band is set at 90 to 94 per share. At the upper-end of the price band, the company plans to raise 30.79 crore from the issue which is entirely a fresh issue of 32.76 lakh equity shares.

The IPO lot size is 1,200 shares and the minimum investment amount required by retail investors is 112,800.

Deepak Pandey, Anju Pandey, and Astik Mani Tripathi are the promoters of GP Eco Solutions India Ltd. The promoter shareholding in the company will come down to 86.4% after the IPO from 62.23% at present.

Corporate Capitalventures Pvt Ltd is the book running lead manager of the GP Eco Solutions IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

Read all IPO news here

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Published: 14 Jun 2024, 01:42 PM IST

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