New Delhi: The renewable energy company, GPES Solar’s Initial Public Offer (IPO) opened for subscription on Friday, i.e. June 14, 2024 and would conclude on June 19. The stake sale is basically an SME IPO and the shares of the company will be listed on the NSE SME index. Retail investors can bid for a minimum of 1,200 shares in a single lot. The GPES Solar IPO price band is set at Rs 90 to Rs 94. For one single lot, investors will have to invest a minimum amount of Rs 1.12 lakh. While, the maximum investment limit is set at Rs 2 lakh for such investors.
GPES Solar IPO subscription status
Within just one hour of opening of the bid window, the issue got subscribed almost eight times its total size. Retail investors led the bidding round as their subscription quota was already full at the time of writing this article.
GPES Solar IPO GMP
Ahead of the issue opening date, the Grey Market Premium (GMP) of the renewable energy stock traded at Rs 12o in the grey market.
GPES Solar IPO Issue Size
The IPO is entirely a fresh equity issue of 32.76 lakh shares. The company aims to raise nearly Rs 31 crore through the stake sale process.
GPES Solar IPO Expected Listing Date
The stocks of the solar products manufacturing company are expected to be listed on the NSE SME on Monday, June 24, 2024. While, the tentative GPES Solar IPO allotment date is Thursday, June 20, 2024.
GPES IPO Issue structure
Retail investors can subscribe 35 per cent of the total IPO size. While, 15 per cent is reserved for Non Institutional Investors (NIIs) and 50 per cent for Qualified Institutional Buyers (QIBs).
About the company
Noida-based GPES Solar manufactures solar energy products like solar panels, solar inverters, and solar energy storage solutions. For the period ending December 2023, the company had clocked revenue of Rs 78.58 crore and relished profits of Rs 4.73 crore.
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GPES Solar IPO opened for subscription on June 14, 2024. The IPO is creating a buzz in in the grey market. The The price band for the SME IPO is set at Rs 90 to Rs 94. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
