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GK Energy Listing Price
| Exchange | Listing Price | Gain/Loss | % |
|---|---|---|---|
| NSE | ₹171.00 | +₹18.00 | +11.76% |
| BSE | ₹165.00 | +₹12.00 | +7.84% |
GK Energy Subscription
Last updated on 23-Sep-2025 18:23:06
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 6068759 | 1171323342 | 193.01 |
| HNIs | 4551569 | 585144672 | 128.56 |
| HNIs 10+ | 3034379 | 437196620 | 144.08 |
| HNIs 2+ | 1517190 | 147948052 | 97.51 |
| Retail | 10620327 | 231310968 | 21.78 |
| Total | 21240655 | 1987778982 | 93.58 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 2212 | 65892 | 29.79 |
| HNIs (2-10L) | 1106 | 105327 | 95.23 |
| Retail | 108371 | 2031253 | 18.74 |
| Total Applications: 2202472 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 92.85 | 17921.25 | 193.01 |
| FIIs | - | 4698.76 | - |
| DIIs | - | 7233.86 | - |
| Mutual funds | - | 391.58 | - |
| Others | - | 5597.06 | - |
| HNIs | 69.64 | 8952.71 | 128.56 |
| HNIs 10+ | 46.43 | 6689.11 | 144.08 |
| HNIs 2+ | 23.21 | 2263.61 | 97.51 |
| Retail | 162.49 | 3539.06 | 21.78 |
| Total | 324.98 | 30413.02 | 93.58 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹39.6 | @8% ₹45.3 | @9% ₹51 | @10% ₹56.6 | @11% ₹62.3 | @12% ₹68 |
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 | % |
|---|---|---|
| Anchor | 9103136 | 30% |
| QIB | 6068759 | 20% |
| 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 | 20,28,17,266 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 | 20.29 | ||
| P/E Post IPO | 23.3 |
Company Financials (In ₹Crores)
| Period Ended | Mar-25 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 583.62 | 214.08 | 142.82 | 69.82 |
| Total Income | 1099.18 | 412.31 | 285.45 | 70.63 |
| Profit After Tax | 133.21 | 36.09 | 10.08 | 1.56 |
| EBITDA | 199.69 | 53.83 | 17.18 | 5.01 |
| NET Worth | 209.09 | 55.96 | 19.87 | 9.12 |
| Total Borrowing | 217.79 | 62.29 | 42.61 | 24.38 |
The financial statement for March 2025 is presented as restated consolidated, while those for 2024, 2023, and 2022 are presented as standalone.
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.
Strength
Market Leadership in Solar Pump EPC: The company is the leading pure-play EPC provider of solar-powered pump systems in Maharashtra under the PM-KUSUM Scheme, with a growing presence in multiple states.
Strong Order Book: As of August 15, 2025, the company has a robust order book of ₹10,289.64 million, reflecting strong demand and growth opportunities in solar-powered pump and rooftop solar systems.
Comprehensive Customer Support: From installation to after-sales service, the company ensures a seamless experience for farmers, driving customer satisfaction and positive word-of-mouth.
Weakness
Working Capital and Liquidity Risk: Inability to secure adequate financing or generate sufficient cash flow may impact operations, while higher borrowings could increase finance costs.
Competitive Disadvantage: Being a pure-play EPC company, the business may face challenges competing with integrated players that also manufacture solar panels.
Debt Rating Downgrade Risk: Any downgrade in debt ratings could increase borrowing costs and limit access to new borrowings, affecting business growth and financial stability.
GK Energy Latest Announcements
| Date | Subject | Attachment Text |
|---|
GK Energy Financial Results
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
GK Energy Reviewers
| Reviewer | Recommendation | File |
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