On June 7, 2025, GP Eco Solutions India Limited, a listed entity trading under the symbol GPECO on the National Stock Exchange of India (NSE), issued an official addendum to its previously filed outcome of the Extra Ordinary General Meeting (EGM) held on June 6, 2025. This addendum pertains to a clerical correction involving a public category allottee’s name in the resolution concerning a preferential issue of equity shares and warrants.

Background of the EGM Held on June 6, 2025

The EGM convened by GP Eco Solutions India Limited had its agenda focused on the approval of a preferential allotment. This included the issuance of equity shares and warrants to select individuals/entities falling under both Public and Promoter categories. The shareholders duly approved this proposal, adhering to the governance framework prescribed under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, particularly Regulation 30, which mandates prompt and detailed disclosures to stock exchanges.

Nature of the Correction

In the original communication to the exchange regarding the outcome of the EGM, one name from the Public category allottee list was incorrectly mentioned. The company, through its Company Secretary & Compliance Officer Ms. Tanushree, has clarified that:

“The name of the allottee was inadvertently mentioned as Kumar Vishwas, whereas it should correctly read as Vishvas Kumar Sharma.”

This correction does not imply any change in the terms of the preferential issue, the quantum of allotment, or the identity of the rightful recipient, apart from the rectification of the name to ensure the public record is accurate and compliant.

Compliance with SEBI LODR Regulations

The addendum has been filed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs:

• Disclosure of material events and information

• Correction of previously submitted disclosures

• Ensuring transparent communication to investors and the stock exchange

The correction ensures that the regulatory filings are accurate and up to date, especially when it concerns the allotment of securities through preferential mechanisms, which are scrutinized under both SEBI regulations and investor interest.

About the Preferential Issue

While the specifics of the number of equity shares and warrants allotted under this issue were not repeated in the correction notice, the initial EGM outcome would have included:

• Names of allottees from both the Promoter and Public categories

• Number of securities allotted to each

• Pricing details based on SEBI’s pricing formula

• Timeline for warrant conversion and potential dilution impact

The correct identity of allottees is critical for both regulatory compliance and investor understanding, especially since preferential allotments often result in changes in control, dilution, or promoter stake adjustments.

Impact of the Correction

The correction:

• Does not alter the resolution passed by shareholders.

• Does not affect the substance of the preferential allotment.

• Does not impact the valuation or capital structure, other than ensuring accuracy in public records.

However, correctly identifying allottees is essential for maintaining trust and transparency in corporate governance practices. Inaccuracies, even if typographical, must be corrected with diligence, as GP Eco has done.

Responsibility and Timeliness

The company has demonstrated prompt action by issuing the correction within a day of the EGM. Such swift action indicates:

• Awareness of compliance obligations

• Readiness to engage with regulatory frameworks

• A commitment to corporate governance best practices

This rectification enhances investor confidence, as stakeholders are assured that any discrepancies are acknowledged and addressed without delay.

About GP Eco Solutions India Limited

GP Eco Solutions India Limited operates in the renewable energy and eco-sustainability sector, offering solutions and services that promote clean energy and environmental conservation. The company is known for its initiatives in solar energy, energy-efficient systems, and green technology deployment.

Listed on the National Stock Exchange (NSE) under the symbol GPECO, GP Eco remains committed to:

• Transparent shareholder communication

• Sustainable business practices

• Ethical financial reporting

Their consistent adherence to SEBI norms positions them as a responsible market participant in the eco-solutions space.

Looking Forward

Stakeholders, particularly investors tracking the company’s capital structure and governance practices, are advised to:

• Refer to the revised disclosure where the allottee’s name has been corrected

• Monitor subsequent updates, especially when warrants issued during this preferential allotment are converted

• Review quarterly shareholding patterns to observe how such allotments affect ownership dynamics

As preferential issues often precede strategic expansions, partnerships, or funding rounds, investors should also stay alert for future corporate developments announced by GP Eco.

Conclusion

GP Eco Solutions India Limited has acted in compliance with Regulation 30 of SEBI’s LODR Regulations by issuing a timely and transparent addendum to the EGM outcome. The correction involves the proper identification of a Public category allottee, rectifying the name from “Kumar Vishwas” to “Vishvas Kumar Sharma.”

This move reflects the company's commitment to accurate reporting and responsible governance. There is no material change in the outcome or terms of the preferential issue. However, the correction ensures accuracy in official filings, safeguarding the interests of regulators, investors, and other stakeholders alike.

The Upcoming IPOs in this week and coming weeks are Jainik Power Cables, Sacheerome Limited, Victory Electric Vehicles International, Wagons Learning.

The Current active IPO are Ganga Bath Fittings.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.