GK Energy IPO: Check IPO Date, Live Subscription and Key Details
GK Energy is India's largest pure-play provider of EPC (engineering, procurement and commissioning) services for solar-powered agricultural water pump systems under the PM-KUSUM scheme. The company provides end-to-end EPC for solar power systems, including installation of its brand's solar-powered pump systems for farmers, and the supply of solar dual water pump systems to government bodies. It also provides other EPC services for water storage and distribution facilities under the Jal Jeevan Mission, supply of solar products to government agencies, and rooftop solar solutions. As of August 15, 2025, the company had a robust order book of ₹1,028.96 Cr and operates with a decentralized infrastructure of 12 warehouses across three states.
Price Range
₹145.0 - ₹153.0
Issue Size
₹464.26 Cr
Lot Size
98 shares
IPO Type
Mainboard
GMP
₹18(+11.76%)
Est. Listing Price
₹171
Estimate Profit
₹1,764
Retail Portion
-
Key Metrics
Check Live GMPGMPFace Value
₹2
EPS
7.86
P/E Ratio
19.47
RoNW
63.71%
ROE
63.71%
Debt to Equity
0.74
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Timeline
IPO Opens
19 Sept
IPO Closes
23 Sept
Allotment
24 Sept
Listing
26 Sept
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 19 September 2025 | Subscription starts |
| IPO Close Date | 23 September 2025 | Subscription ends |
| Allotment Date | 24 September 2025 | Allotment |
| Listing Date | 26 September 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,994 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,94,922 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,09,916 |
SHNI (Max)Below ₹10,00,000 | 66 | ₹9,89,604 |
BHNIAbove ₹10,00,000 | 67 | ₹10,04,598 |
IPO Objectives
- Funding our long term working capital requirements.
- General corporate purposes.
Strengths
- The company is a leading pure-play provider of EPC services for solar-powered pump systems, with a strong market share under the PM-KUSUM Scheme.
- It has a **robust Order Book of ₹1,028.96 crore**, which provides strong revenue visibility for the future.
- The business operates with a decentralized infrastructure and a localized workforce, enabling efficient operations and scalability across states.
- The company provides comprehensive support, from installation to after-sales service, ensuring high customer satisfaction.
- It has a **proven track record of profitable financial performance** and rapidly increasing growth, with a PAT CAGR of 264% over FY23-25.
Weaknesses
- There is a heavy reliance on government schemes, which presents risks from potential policy changes or the scheme's expiry.
- The business has a high geographical concentration, with a significant portion of its order book and revenue coming from Maharashtra.
- The company has had **negative cash flow from operations** in prior years, indicating potential liquidity issues despite its profitability.
- It faces intense competition from other EPC players and larger companies that manufacture their own solar panels.
- The asset-light model relies on **third-party vendors**, which poses a risk of supply chain disruptions or price fluctuations for key components.
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Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Assets (₹ Cr.) | 583.62 | 214.08 |
| Revenue (₹ Cr.) | 1,099.18 | 412.31 |
| PAT (₹ Cr.) | 133.21 | 36.09 |
| Net Worth (₹ Cr.) | 209.09 | 55.96 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| GK Energy Limited | 24.17 | 19.47 | 63.71% | 107.03 |
| Shakti Pumps (india) Ltd. | 7.43 | 26.19 | 35.17% | 1,161.59 |
| Oswal Pumps Limited | 6.67 | 29.62 | 60.69% | 179 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 2.4x | 3x | 193.01x |
| NII | 2.74x | 10.53x | 128.56x |
| S-HNI | 4.74x | 15.37x | 97.51x |
| B-HNI | 1.74x | 8.1x | 144.08x |
| RII | 2.83x | 7.17x | 21.78x |
| Total | 2.69x | 6.7x | 93.58x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 60,68,759 | 1,17,13,23,342 | 17,921.25 |
| NII | 45,51,569 | 58,51,41,928 | 8,952.67 |
| Small NII | 15,17,190 | 14,79,45,308 | 2,263.56 |
| Big NII | 30,34,379 | 43,71,96,620 | 6,689.11 |
| RII | 1,06,20,327 | 23,12,98,522 | 3,538.87 |
| Total | 2,12,40,655 | 1,98,77,63,792 | 30,412.79 |
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Company Details
- GK Energy Ltd.
- Office No. 802, CTS No. 97-A-1/57/2, Suyog Center, Pune, Maharashtra-411037
- 020 - 24268111
- investors@gkenergy.in
- http://www.gkenergy.in/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- gkenergy.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html
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