The Indian stock market witnessed an upbeat moment as GK Energy shares made a notable debut, listing at a premium on the NSE. The Pune-based renewable energy firm captured investor attention during its maiden public offering, highlighting the growing interest in the solar energy and EPC services sector.
Market Performance
GK Energy shares opened at ₹171 per share on NSE, marking a premium of around 12% over the issue price. On BSE, the listing was slightly lower at ₹165.20 per share, still representing an 8% premium over the IPO price.
The response to the public issue reflected strong investor enthusiasm:
- IPO Size: ₹464 crore
- Subscription: Nearly 90 times the total offer
- IPO Period: September 19 to September 23
This debut underscores the confidence of investors in renewable energy and the growing interest in companies offering solar-powered solutions.
Main News
GK Energy raised funds through a fresh issue of ₹400 crore and an offer-for-sale of 42 lakh shares by promoters Gopal Rajaram Kabra and Mehul Ajit Shah. Investors could apply for a minimum of 98 shares, translating to an investment of ₹14,994 at the upper price band, with applications allowed in multiples thereafter.
The allocation of shares was structured as follows:
- Qualified Institutional Buyers (QIBs): 50%
- Retail Individual Investors: 35%
- Non-Institutional Bidders: 15%
This allocation strategy ensured that both institutional and retail investors could participate in the IPO, reflecting broad market interest.
Company Details
Founded as a provider of EPC services for solar-powered pumps, GK Energy has steadily expanded its footprint in the renewable energy sector. The company moved to the capital markets to raise funds to support operational expansion and long-term growth.
Key financial highlights from the IPO include:
- IPO Proceeds: ₹464.26 crore
- Long-term Working Capital: ₹322.46 crore
- General Corporate Purposes: Remaining balance
The IPO proceeds are set to strengthen the company’s infrastructure and enhance its ability to fulfill increasing demand for solar-powered solutions.
GK Energy has consistently demonstrated strong financial performance, with significant revenue and profit growth in FY 2024. Its order book reflects ongoing projects and strong market presence in the renewable energy segment.
Summary
The listing of GK Energy shares marks a milestone for the company and highlights the growing investor interest in renewable energy solutions. With a premium listing, strong IPO subscription, and well-structured capital allocation, GK Energy demonstrates the potential and momentum of the solar EPC sector in India.
The debut also signals a positive shift in investor appetite toward sustainable energy companies, reflecting both short-term enthusiasm and long-term growth prospects.
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