GP Eco Solar Aims for Dominance in Clean Energy Sector; Plans ₹30-35 Crore IPO on NSE Emerge

GP Eco Solutions India Limited (GPES), a leading company in the solar energy sector, has announced plans to raise ₹30-35 crore through an initial public offering (IPO) on NSE Emerge. This strategic initiative highlights GPES’s dedication to accelerating its growth in the rapidly expanding solar power industry.

The global solar inverter market, valued at USD 7.7 billion in 2022, is expected to reach USD 17.9 billion by 2030, demonstrating a strong CAGR of 8.8%. India’s solar power industry is set to experience even more impressive growth, with an estimated CAGR of 34.24% between 2022 and 2027.

“GP Eco Solar intends to raise capital between Rs. 30 Crore and Rs. 35 Crore, subject to approval. The IPO funds will fuel our growth, with Rs. 12.45 Crore allocated for working capital and expansion, and Rs. 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

“The Indian solar energy landscape is on the cusp of exponential growth, and GP Eco Solar is strategically positioned to capitalize on this exciting opportunity,” added Mr Pandey , “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.”