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GP Eco Solutions eyes Rs 35 crore via IPO
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New Delhi: GP Eco Solutions India Limited (GPES) is planning to raise up to Rs35 crore through an Initial Public Offering (IPO) which is expected to hit the markets by month-end, its CEO Deepak Pandey said on Thursday.
The proceeds will be utilised to fuel the company’s expansion plans and support working capital requirements, he said in a media interaction here. The proposed IPO will comprise a fresh issuance of 32.76 lakh equity shares with a face value of Rs10 each. Through the issue, the promoters will dilute about 25 per cent stake in the company.