GK Energy IPO
ListedMainboardOpens 19 September 2025Closes 23 September 2025
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…
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.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
19 Sept
IPO Closes
23 Sept
Allotment
24 Sept
Listing
26 Sept
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 19 September 2025 |
| IPO Close Date | 23 September 2025 |
| Allotment Date | 24 September 2025 |
| Listing Date | 26 September 2025 |
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.
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 |
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
Frequently Asked Questions
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GK Energy IPO News & Updates
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GK Energy IPO IPO Pages
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GK Energy IPO Details
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GK Energy IPO GMP
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GK Energy IPO Subscription
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GK Energy IPO Allotment
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GK Energy IPO Review
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GK Energy IPO FAQ
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GK Energy IPO Registrar
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GK Energy IPO News
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Sources
We match GK Energy IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Pvt.Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.