GP Eco Solar Targets INR 30-35 Crore IPO on NSE Emerge
This strategic move underscores GPES's commitment to accelerating its growth trajectory within the flourishing solar power sector.
May 16, 2024. By Anurima Mondal
"GP Eco Solar intends to raise capital between INR 30 crore and INR 35 crore, subject to approval. The IPO funds will fuel our growth, with INR 12.45 crore allocated for working capital and expansion, and INR 7.6 crore will be invested in our subsidiary Invergy India for a new solar inverter assembly facility in Noida. Remaining funds will go towards general corporate purposes," said Deepak Pandey, Promoter & Managing Director, GPES.
"This IPO is a significant milestone for us. By going public, we gain access to the resources necessary to drive innovation and make a significant contribution to India’s sustainable future. The proceeds will allow us to expand our manufacturing capabilities, strengthen our service offerings, and solidify our position as a key player in India’s clean energy transition. We are steadfastly committed to making solar energy accessible and affordable to all,” he added.
"This IPO presents an attractive opportunity for investors to partake in the growth trajectory of a company well-positioned to thrive in the burgeoning Indian clean energy market," said Astik Mani Tripathi, Promoter & Director of GPES.
The global solar inverter market, valued at USD 7.7 billion in 2022, is projected to reach USD 17.9 billion by 2030, reflecting a promising CAGR of 8.8 percent. India's solar power industry is anticipated to witness an even more remarkable growth, with a CAGR of 34.24 percent estimated between 2022 and 2027.
please contact: contact@energetica-india.net.
Aman Mehtani
Founder & Group CEO
ADM Group Offers Smart, Sustainable Solutions for Global Automotive Industry
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix