GK Energy was incorporated on October 14, 2008. The company is India's largest EPC service provider for solar-powered agricultural water pump systems under Component B of the PM-KUSUM Scheme, based on installations from January 1, 2022, to December 3, 2024 (Source: CRISIL Report)
| Bidding Dates |
|---|
| 19 Sep 2025 - 23 Sep 2025 |
| Subscription |
|---|
| 89.62x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,210 | 1 | 13 | 98 | 30.3 M | ₹145 - ₹153 | 79.2 % | ₹4399.8 M - ₹4642.6 M | RHP DOC |
GK Energy IPO SUBSCRIPTION STATUS
23 Sep '25GK Energy IPO overall subscription rate was 89.62 times the total available shares
GK Energy IPO retail subscription rate was 20.79 times in the retail segment
GK Energy IPO non-institutional investor subscription rate was 122.73 times in the non-institutional investor category
GK Energy IPO Qualified Institutional Bidder subscription rate was 186.29 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
23 Sep 2025 (Day 3) | 20.79x | 122.73x | 186.29x |
22 Sep 2025 (Day 2) | 6.84x | 10.05x | 2.9x |
19 Sep 2025 (Day 1) | 2.7x | 2.61x | 2.32x |
GK Energy FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 1,094.8 | 133.2 | -98.6 | -103.3 | 18.2% |
| FY24 | 411.1 | 36.1 | -4.9 | -10.3 | 13.1% |
| FY23 | 285.0 | 10.1 | -14.9 | -15.1 | 6.0% |
| Note: FY23 & FY24 financials are standalone basis | |||||
GK Energy IPO SUBSCRIPTION STATUS DETAILS
GK Energy had 30.3 M shares on offer
GK Energy IPO offer price was in the range ₹145 - ₹153
GK Energy IPO minimum Investment was ₹14210
GK Energy IPO issue size was ₹ 4399.8 M - ₹ 4642.6 M
GK Energy had a minimum lot size of 98 Shares per application
GK Energy NUMBER OF SHARES ON OFFER
GK Energy IPO IMPORTANT DATES
| Issue Open Date | 19 Sep 2025 |
| Issue close Date | 23 Sep 2025 |
| Allotment Date | 24 Sep 2025 |
| Refund Date | 25 Sep 2025 |
| Demat Account Credit Date | 25 Sep 2025 |
| Listing Date | 26 Sep 2025 |
| Listing on Exchange(s) | NSE and BSE |
| GK Energy Allotment Status | Exchange/ Registrar |
GK Energy IPO subscription opened on 19 Sep 2025, and closed on 23 Sep 2025
IPO allotment for GK Energy was finalized on Wednesday, 24 Sep 2025
IPO listing for GK Energy was on NSE and BSE on Friday, 26 Sep 2025
GK Energy IPO LISTING GAINS
| Issue Price (adjusted) | 153.0 |
| Listing Open Price | 171.0 |
| Listing Close Price | 167.7 |
| Listing Gain% | 11.8% |
| Current Gain% | -12.8% |
GK Energy Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GK Energy Ltd. | 133.4 | 2704.8 | 11.9 | 0.2 | 1.4 | 23 | 15.6 | 1724.6 | 56.9 | 204.3 | 53.4 | 11.2 | 70.1 |
| Elgi Equipments Ltd. | 571 | 18097.1 | 42.1 | 1.8 | 4.6 | 19.3 | 12.1 | 4068.5 | 14 | 430.2 | 22.8 | 13.6 | 22.9 |
| Kirloskar Brothers Ltd. | 1961.5 | 15576.1 | 41.7 | -4 | 3.3 | 15.2 | 8.5 | 4615.2 | 1.1 | 373.6 | -10 | 47 | -10.4 |
| KSB Ltd. | 814.6 | 14177.2 | 57.7 | -13.1 | 5.2 | 16.1 | 9.7 | 2754.9 | 7.2 | 270.5 | 9.3 | 14.1 | -4.4 |
| Ingersoll-Rand (India) Ltd. | 4259.9 | 13447.7 | 52.5 | -12.2 | 9.7 | 41.6 | 25.6 | 1430.8 | 4.1 | 256 | -4.3 | 81.1 | -4.3 |
| Kirloskar Pneumatic Company Ltd. | 1468 | 9536.6 | 36.3 | 1.5 | 5.3 | 20.5 | 14.6 | 1814.5 | 9.1 | 256.1 | 21.3 | 40.5 | 24.7 |
GK Energy INFORMATION ON IPO ISSUE
About GK Energy
GK Energy was incorporated on October 14, 2008. The company is India's largest EPC service provider for solar-powered agricultural water pump systems under Component B of the PM-KUSUM Scheme, based on installations from January 1, 2022, to December 3, 2024 (Source: CRISIL Report)
Object of the Issue
- Funding long-term working capital requirements
- General corporate purposes
GK Energy - PROMOTERS
| Name |
|---|
| Gopal Rajaram Kabra |
| Mehul Ajit Shah |
GK Energy - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Gopal Rajaram Kabra | Chairman, Managing Director & Chief Executive Officer |
| Mehul Ajit Shah | Whole-time Director & Chief Operating Officer |
| Navaniit Mandhaani | Non-Executive Director |
| Chandra Iyengar | Independent Director |
| Susheel Bhandari | Independent Director |
| Pooja Pawan Chandak | Independent Director |
GK Energy Book Running Lead Manager
IIFL Capital Services Limited
gkenergy.ipo@iiflcap.com
HDFC Bank Limited
gkenergy.ipo@hdfcbank.com
GK Energy Registrar to the Offer
Link Intime India Private Limited
gkenergy.ipo@linkintime.co.in
GK Energy Strengths
Comprehensive support
The company provides end-to-end support, from installation to after-sales service, ensuring a seamless experience for farmers and fostering word-of-mouth publicity that minimizes marketing efforts
Decentralised infrastructure and localised workforce
The company has a decentralised infrastructure with 13 warehouses across three states and a workforce of 60 employees and 485 workmen, enabling efficient operations across five states as of November 30, 2024
Well-positioned in the rooftop solar market
The company is well-positioned to capitalise on the growing market opportunity driven by government schemes and increasing public awareness of renewable energy's role in addressing global warming
GK Energy Risks
Geographically concentrated
The company operates in Maharashtra, Chhattisgarh, Haryana, Uttar Pradesh, and Rajasthan. A sustained economic downturn in any of these states, particularly Maharashtra, could reduce demand for solar-powered pump systems and negatively impact the business
Dependent on third party vendors
The company relies on a limited number of third-party suppliers for components and materials. Any failure by a key supplier to perform could negatively impact the business, financial condition, and operations
Price fluctuations
Significant increases in the costs of key components could negatively impact the business, financial condition, operations, and cash flows
IPO FAQs
This IPO consists of an offer for sale of up to Rs 64.3 crore, of 4,200,000 shares. It also consists of a fresh issue of Rs 400.0 crore.
The promoters of the company are Gopal Rajaram Kabra and Mehul Ajit Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 145.0 - 153.0.
The IPO application opens on Sep 19, 2025 and closes on Sep 23, 2025.
The minimum lot size for the IPO is 98. The maximum lot size for the IPO is 1274.
For all category investors, the minimum application amount for this IPO is Rs. 14,210.0, the maximum value for this IPO is Rs 194,922.0.
This IPO will be allotted on Sep 24, 2025.
The refund will be credited to your account on Sep 25, 2025.
The allotted shares will be credited to your demat on Sep 25, 2025.
GK Energy Ltd.’s shares listed on the stock exchanges on Sep 26, 2025.