GK Energy
September 19, 2025 – September 23, 2025
| Price | ₹145 - ₹153 |
| GMP Rumors * | ₹0 |
|---|---|
| Lot size | 98 |
| Allotment | Sep 24, 2025 |
| Listing | Sep 26, 2025 |
GK Energy Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 98 | 14994 | 108371 |
| sHNI | 14 | 1372 | 209916 | 1106 |
| bHNI | 67 | 6566 | 1004598 | 2212 |
GK Energy Reservation
| Category | Shares Offered | % |
|---|---|---|
| QIB | 15171895 | 50% |
| HNI | 4551569 | 15% |
| Retail | 10620327 | 35% |
| Total | 30343791 | 100% |
GK Energy About
GK Energy IPO Details
| Issue Size | 3,03,43,791 shares (aggregating up to ₹464.26 Cr) |
| Fresh Issue | 26,143,791 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 42,00,000 shares of ₹2 (aggregating up to ₹64.26 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 17,01,37,529 shares |
| Share Holding Post Issue | 19,62,81,319 shares |
GK Energy IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Key Performance Indicator (KPI)
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 63.71% | 64.49% | 50.73% |
| ROCE | 55.65% | 50.10% | 29.36% |
| RONW | 63.71% | 64.49% | 50.73% |
| EPS (basic) | 7.86 | 2.14 | 0.66 |
| P/E Pre IPO | 19.47 |
Company Financials In Crores
| Period Ended | Sep-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 447.31 | 214.08 | 142.82 | 69.82 |
| Total Income | 423.63 | 412.31 | 285.45 | 70.63 |
| Profit After Tax | 51.08 | 36.09 | 10.08 | 1.56 |
| EBITDA | 78.29 | 53.83 | 17.18 | 5.01 |
| NET Worth | 107.03 | 55.96 | 19.87 | 9.12 |
| Total Borrowing | 202.94 | 62.29 | 42.61 | 24.38 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| GK Energy Limited | - | - | 2.0 |
| Shakti Pumps (India) Limited | 24.11 | 819.05 | 10.0 |
| Oswal Pumps Limited | 29.00 | 817.3 | 1.0 |
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| GK Energy Limited | 12.35 | 63.71% | 7.86 |
| Shakti Pumps (India) Limited | 96.59 | 35.20% | 33.97 |
| Oswal Pumps Limited | 44.56 | 93.00% | 28.21 |
Company Overview
Founded: 2008
Core Business: Provides Engineering, Procurement, and Commissioning (EPC) services for solar-powered agricultural water pump systems.
Primary Customer: Farmers in India.
Key Government Scheme: Operates under Component B of the PM-KUSUM Scheme (Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan).
Services & Value Proposition
GK Energy acts as a single-source, comprehensive solution for farmers, managing the entire process:
Surveying, Designing, Supplying, Assembling, Installing, Testing, Commissioning Maintainin
Business Model & Operations
Business Model: Asset-Light. This means the company does not own major manufacturing facilities. Instead, it focuses on project management, integration, and services.
Supply Chain: Procures all components (solar panels, pumps, etc.) from specialized third-party vendors.
Branding: These components are supplied under the "GK Energy" brand.
Warehousing: Leases 13 warehouses across three Indian states (as of November 30, 2024).
Workforce: Employs 60 people (as of November 30, 2024).
Strength
Market leadership – ~15% share in Maharashtra’s solar pump EPC market under PM-KUSUM.
Strong revenue visibility – Large order book of ₹10,289.64 million across pump and rooftop solar projects.
Operational reach – Decentralised setup with 12 warehouses, 90 employees, 709 workmen, and customer support systems.
Weakness
Revenue concentration – Over 90% of revenues from solar pump EPC projects.
Cash flow stress – Delays in receivables and net cash outflows from operations in recent fiscals.
Financing dependence – Business growth and operations rely heavily on working capital funding.
GK Energy Lead Manager(s)
GK Energy Address
Office No. 802,
CTS No. 97-A-1/57/2,
Suyog Center,
Pune, Maharashtra, 411037
Phone: 020 - 24268111
Email: investors@gkenergy.in
Website: http://www.gkenergy.in/
GK Energy Registrar
MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083