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The SME IPO of GPES Solar opened for subscription today and will close on June 19. The company aims to raise about Rs 31 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.1) About GPES SolarThe company is involved in the distribution of a wide range of solar inverters and solar panels. It is an authorized distributor of Sungrow India for solar inverters in North India, and also authorized distributors for Saatvik Green Energy Private and LONGi Solar Technology for solar panels in the northern region.2) Industry overviewThe solar inverter market size was valued at $7.7 billion in 2022 and is expected to reach $17.9 billion by 2030, at a CAGR of 8.8% from 2022 to 2030.3) GPES Solar IPO sizeThe IPO is entirely a fresh equity issue of 32.76 lakh shares and through the issue, the company aims to raise nearly Rs 31 crore.4) GPES Solar IPO price bandThe company is offering its shares at Rs 90-94 apiece, and investors can bid for 1200 shares in 1 lot.5) GPES Solar IPO financial performanceFor the period ended December 2023, the company clocked revenues of Rs 78.58 crore and net profit of Rs 4.73 crore.6) Objects of the offerThe net proceeds from the public offer will be used to meet working capital requirements, investment in subsidiaries, and other general corporate purposes.7) Lead managers and RegistrarCorporate Capital Ventures is acting as the lead manager to the issue and Bigshare Services is the registrar.8) Issue structureAbout 50% of the offer is reserved for QIB investors, 35% for retail investors and the rest 15% for non-institutional investors.9) Important datesThe IPO opened on June 14 and will close on June 19. The final allotment will likely be made on June 20. The company's shares will likely get listed on June 24.10) GPES Solar GMPAhead of the issue opening, the company's shares were trading with a GMP of Rs 120 in the unlisted market.

The Bank of Japan kept ultra-low interest rates on Friday but decided to start trimming its huge bond purchases in a slow but steady retreat from its massive monetary stimulus. While it will continue to buy government bonds at the current pace of roughly 6 trillion yen ($38 billion) per month, the central bank decided to lay out details of its tapering plan for the next one to two years at its July meeting. "We will conduct purchases in accordance with our decision made at the March meeting," the BOJ said in a statement, maintaining a phrase put in place at its previous meeting in April that commits to buying bonds at the current pace. "We also decided to reduce our purchase amount thereafter to ensure that long-term interest rates would be formed more freely in financial markets," it said. The BOJ said it will collect views from market players before deciding on the long-term tapering plan at its next meeting. As widely expected, the BOJ kept its short-term policy rate target in a range of 0-0.1% by a unanimous vote. Markets are focusing on how Governor Kazuo Ueda, at his post-meeting briefing at 0630 GMT, reconciles recent weak signs in the economy with the bank's current projection that Japan will make steady progress towards achieving its price target. The BOJ exited negative rates and bond yield control in March in a landmark shift away from a decade-long, radical stimulus programme. It has also dropped signs that it will keep raising short-term rates to levels that neither cool nor overheat the economy - seen by analysts as being somewhere between 1-2%. The central bank is also under pressure to embark on quantitative tightening (QT) and scale back its $5 trillion balance sheet to ensure the effects of future rate hikes smoothly feed into the economy. Nearly two-thirds of economists polled by Reuters had expected the BOJ to start tapering its monthly bond buying on Friday. The BOJ's efforts to normalise monetary policy come as other major central banks, having already tightened monetary policy aggressively to combat soaring inflation, look to cut rates. The Federal Reserve held interest rates steady on Wednesday and signalled the chance of a single cut this year. The European Central Bank cut interest rates last week for the first time since 2019. However, the normalisation of Japan's still-loose monetary policy is clouded by weak consumption and doubts over the BOJ's view that robust domestic demand will keep inflation on track to durably hit its 2% target. Receding prospects of steady U.S. interest rate cuts may also keep the yen weak against the dollar, complicating the BOJ's policy deliberations. Japan's battered currency has become a headache for policymakers by inflating import prices, which in turn boosts living costs and hurts consumption. Some analysts see the BOJ's bond tapering among tools the central bank can use to slow the yen's declines by allowing long-term interest rates to rise more freely. ($1 = 157.9400 yen)