New Delhi: Solar energy solutions provider GP Eco Solutions India Ltd on Thursday said it has filed preliminary papers with NSE Emerge to raise funds through an initial public offering (IPO). The Noida-headquartered company’s IPO is a fresh issuance of a total of 32.76 lakh equity shares, according to a statement. Of the proceeds from the IPO, the company is expected to raise Rs 12.45 crore to meet working capital requirements and invest in its subsidiary Invergy India Pvt Ltd (IIPL), purchase plant and machinery as well as set up a new facility. Will utilize Rs 7.6 crore. , In addition, a portion of the funds will be used for general corporate purposes.
After completion of the issue, the shares of the company will be listed on NSE Emerge, a platform for small and medium enterprises. According to the draft papers, the company plans to assemble a solar inverter at its assembly facility being set up in Gautam Buddha Nagar, Noida, Uttar Pradesh, after completion of trial runs and start of commercial production in the third quarter of 2024-25. Expected to happen. ,
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2024-03-08 16:23:27