The GP Eco IPO opened for subscription on June 14 and closed on June 19. The GP Eco IPO aims to raise approximately ₹31 crore through this IPO and plans to list the shares on the NSE SME platform. The GP Eco Solutions IPO allotment status is set to be finalized today.

If you applied for the IPO, here is how you can check the GP Eco IPO allotment status.

Checking Allotment Status on Registrar's Website:

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "GP Eco Solutions" from the dropdown menu.
3. Then you can enter your PAN, application number, or Demat.
4. Enter Captcha and Click Submit to retrieve the GP Eco IPO allotment status.

If all the details are entered correctly and the allotment has been finalised, the GP Eco IPO allotment status will be visible.

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GP Eco IPO Subscription Status

On the final day of bidding, GP Eco's IPO has seen a total subscription of 855 times. The retail individual investors (RIIs) category has been oversubscribed by 793 times, while the non-institutional investors (NII) category has seen a subscription of 1,824 times. The Qualified Institutional Buyers (QIBs) category has been subscribed 236 times.

The IPO allocation is divided with about 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.

GP Eco IPO GMP

The GP Eco's IPO GMP is currently reported at ₹180. With the IPO's price band set at ₹94, the expected listing price is ₹274, indicating a potential gain of approximately 191% on the listing. However, it's crucial to remember that while GMPs can offer some insight into market sentiment, they are not always a reliable predictor of a stock's performance upon listing.

GP Eco IPO Details

The offering consists entirely of a fresh equity issue of 32.76 lakh shares, priced between ₹90-94 apiece. Investors can bid for a minimum of 1 lot, which consists of 1200 shares.

GPES Solar intends to use the net proceeds from this public offering to meet working capital requirements, invest in subsidiaries, and for other general corporate purposes. For the nine-month period ending December 2023, the company reported revenues of ₹78.58 crore and a net profit of ₹4.73 crore.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.