GP Eco Solutions IPO: Shares surge 299% on NSE SME Debut

GP Eco Solutions India saw its shares make a spectacular debut in the stock market today. The shares were listed at ₹375 each on the NSE SME, marking a 299% premium over the issue price of ₹94 per share.

This impressive listing far exceeded market expectations. The grey market premium (GMP) for GP Eco Solutions shares was ₹181 per share, suggesting a listing premium of 193%. However, the actual listing price surpassed these predictions, providing a substantial return for IPO investors.

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The GP Eco Solutions IPO was open for subscription from June 14 to June 19 and attracted significant interest from investors. The IPO was subscribed 856.21 times in total, with the retail category seeing 793.20 times subscription, Qualified Institutional Buyers (QIB) 236.64 times, and Non-Institutional Investors (NII) 1,824.87 times.

The IPO aimed to raise ₹30.79 crore with a price band set between ₹90 and ₹94 per share. It was entirely a fresh issue of 32.76 lakh equity shares. The allotment of shares was finalized on June 20, and the shares were listed today, June 24.

Investors have seen their investments grow over four times with this listing, marking a highly successful debut for GP Eco Solutions on the stock market.