GP Eco Alternatives India Restricted (GPES) is planning to lift as worthy as Rs 35 crore by means of an Preliminary Public Offering (IPO) which is anticipated to hit the markers by month-quit, its CEO Deepak Pandey acknowledged on Thursday. The proceeds will be utilised to fuel the firm's expansion plans and help working capital necessities, he acknowledged in a media interaction right here.
The proposed IPO will comprise a singular issuance of 32.76 lakh equity shares with a face designate of Rs 10 every. Throughout the topic, the promoters will dilute about 25 per cent stake within the firm.
"GPES intends to lift Rs 30-35 crore, discipline to significant approvals. Rs 12.Forty five crore will be dispensed for working capital and expansion, and Rs 7.6 crore will be invested in our subsidiary Invergy India for a brand new photo voltaic inverter assembly facility in Noida, and the closing fund will scamper in the direction of commonplace company applications," Pandey, who could well be the MD of the firm, acknowledged.
When asked about the timeline, he acknowledged the IPO is anticipated to be launched by the tip of this month.
Explaing the explanations for going public, the CEO acknowledged the firm will affect access to the resources significant to force innovation and build a critical contribution to India's sustainable future.
Company Capital Ventures Personal Ltd is the E book working lead manager for the topic.
Noida-basically basically basically based GPES Solar is an EPC participant within the photo voltaic energy arena.
The firm had reported a income of Rs 78.40 crore and Profit After Tax (PAT) of Rs 4.73 crore for the length of April-December duration of FY24.
