GK Energy Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹145 - ₹153
- Lot size
- 98 shares
- Issue amount
- ₹464.26 cr
- Total subscription
- 93.58×
- Opens
- 19 Sept 2025
- Closes
- 23 Sept 2025
- Allotment
- 24 Sept 2025
- Listing
- 26 Sept 2025
Offer at a glance
Issue overview
- Issue size
- 3,03,43,791 shares
- Face value
- ₹2 Per Share
- Minimum investment
- ₹14,210
- Fresh issue
- ₹400 cr
- Offer for sale
- ₹64.26 cr
- Registrar
- Link Intime India Private Ltd (MUFG)
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,994
- Issue type
- Bookbuilding IPO
- Shares before issue
- 17,01,37,529
- Shares after issue
- 17,01,37,529
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 98 | ₹14,994 |
| sHNI | 14 | 1,372 | ₹2,09,916 |
| bHNI | 67 | 6,566 | ₹10,04,598 |
Share reservation
Subscription & GMP
Subscription by category
Reported 23 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,08,371 | 20,58,325 |
| HNIs(10L +) | 2,212 | 65,892 |
| HNIs (2-10L) | 1,106 | 1,05,327 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 92.85 | 17,921.25 |
| FIIs | 0 | 4,698.76 |
| FIs | 0 | 7,233.86 |
| Mutual Funds | 0 | 391.58 |
| Others | 0 | 5,597.06 |
| RETAIL | 162.49 | 3,539.06 |
| HNIs 2+ | 23.21 | 2,263.61 |
| HNIs 10+ | 46.43 | 6,689.11 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 7.86 | 2.14 | 0.66 |
| ROE | 63.71 | 64.49 | 50.73 |
| ROCE | 55.65 | 50.1 | 29.36 |
| RONW | 63.71 | 64.49 | 50.73 |
| PRE IPO(PE) | 20.29 | 0 | 0 |
| POST IPO(PE) | 23.3 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Shakti Pumps (India) Limited | 24.11 | 819.05 | 10.0 | 96.59 | 35.20 | 33.97 |
| GK Energy Limited | NA | NA | 2.0 | 12.35 | 63.71 | 7.86 |
| Oswal Pumps Limited | 29.00 | 817.3 | 1.0 | 44.56 | 93.00 | 28.21 |
Company information
Company profile
GK Energy primarily provides Engineering, Procurement, and Commissioning (EPC) services for solar-powered agricultural water pump systems, catering mainly to farmers in India. The company operates under Component B of the PM-KUSUM Scheme (Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan). Acting as a comprehensive one-stop solution, GK Energy manages the entire process, including surveying, designing, supplying, assembling, installing, testing, commissioning, and maintaining systems. Its business model is asset-light, as the company does not own major manufacturing facilities but instead focuses on project management, integration, and service delivery. All key components, such as solar panels and pumps, are procured from specialized third-party vendors and supplied under the “GK Energy” brand. To support its operations, the company leases 13 warehouses across three Indian states and employs a workforce of 60 people, as of November 30, 2024.
Strengths
- Leading Position in Solar EPC – Commands approximately 15% share in Maharashtra’s solar pump market under PM-KUSUM.
- Robust Order Book – Secured projects worth ₹10,289.64 million across pump and rooftop solar segments, providing strong revenue visibility.
- Wide Operational Footprint – Decentralized operations with 12 warehouses, 90 employees, 709 workmen, and dedicated customer support systems for efficient execution.
Risk factors
- High Revenue Dependence – More than 90% of revenue comes from solar pump EPC projects, increasing concentration risk.
- Cash Flow Pressure – Delays in receivables and recent net cash outflows from operations may strain liquidity.
- Reliance on External Financing – Business growth and daily operations are heavily dependent on working capital funding.
Promoters
Gopal Rajaram Kabra
Mehul Ajit Shah
Registrar & documents
Lead manager
Hdfc Bank Limited, IIFL Capital Services Limited
Registrar & contacts
Link Intime India Private Ltd (MUFG)
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Office No. 802, CTS No. 97-A-1/57/2, Suyog Center, Pune, Maharashtra, 411037
020 - 24268111
[email protected]Company website ↗Understanding GKENERGY IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.