NSE SME stock GP Eco Solutions surged as much as 9.23% to ₹484.90 apiece in Tuesday’s trading session despite weak market sentiments. The SME stock opened at ₹449.95 apiece today, as compared to the previous close of ₹443.10.
Meanwhile, benchmark indices Sensex and Nifty were trading mostly flat on Tuesday, May 26, after a weak opening, amid mixed signals from Asian markets and an uptick in crude oil prices. In early trade, the 30-share BSE Sensex declined 264.82 points to 76,224.14, while the 50-share NSE Nifty dropped 27.6 points to 24,004.10.
It is to be noted that the stock rally came amid an increase in buying activity on the NSE. According to the data available, around 1 lakh shares changed hands on Tuesday.
GP Eco Solutions’ shares had made their stock market debut on June 24, 2024.
GP Eco Solutions share price listing and IPO details
GP Eco Solutions shares debuted on the NSE SME platform at ₹375 apiece, marking a premium of ₹281, or nearly 299%, over the issue price of ₹94 per share.
GP Eco Solutions IPO opened for subscription on June 14 and concluded on June 19, witnessing robust demand from investors across all categories.
The IPO was subscribed 856.21 times overall, with the retail segment booked 793.20 times, the Qualified Institutional Buyers (QIB) portion subscribed 236.64 times, and the Non-Institutional Investors (NII) category received an overwhelming 1,824.87 times subscription.
The ₹30.79-crore GP Eco Solutions IPO was priced in the range of ₹90– ₹94 per share and consisted entirely of a fresh issue of 32.76 lakh equity shares.
GP Eco Solutions India provides solar energy solutions and is engaged in the business of solar inverters and solar panels.
GP Eco Solutions India share price trend
The NSE-listed stock has largely remained positive since its listing in June 2024. GP Eco Solutions share price has delivered 35.31% gains in a week and 36% in a month.
Furthermore, the stock has logged as much as 17% return on a year-to-date (YTD) basis and 49% in one year.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
About The Author
