NIIs lead demand for GK Energy IPO; subscription surpasses 5x, GMP at 16%

GK Energy IPO GMP: The favorable sentiment extended towards the grey markets too, where the unlisted shares of GK Energy were commanding a solid premium on Monday

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GK Energy IPO Day 2 subscription status: Non-institutional investors (NIIs) are leading the demand for the initial public offering of the engineering, procurement, and commissioning (EPC) company, GK Energy, on the second day of its subscription period. Retail investors are also closely following, while the participation from the qualified institutional buyers (QIBs) is less enthusiastic.

 

The public offering, which opened for subscription on Friday, September 19, 2025, has received bids for 11,74,52,804 equity shares against 2,21,80,828 shares on offer, leading to an oversubscription of 5.30 times, till 2:39 PM on Monday, September 22. NIIs have oversubscribed their respective category by 7.67 times, retail investors at 5.94 times, and QIBs at 2.36 times.

GK Energy IPO grey market premium (GMP)

The favorable sentiment extended towards the grey markets too, where the unlisted shares of GK Energy were commanding a solid premium on Monday. Sources tracking unofficial market activities revealed that GK Energy shares were trading at around ₹178 per share, reflecting a grey market premium (GMP) of ₹25 or 16.34 per cent over the upper end of the issue price. 

GK Energy IPO review

Brokerages have given broadly favorable reviews for the GK Energy IPO. Analysts at Canara Bank Securities have recommended that investors subscribe to the GK Energy IPO for the long term, while those at Angel One have assigned a "Subscribe" rating to the public issue. READ MORE

GK Energy IPO details

The public offering comprises a fresh issue of 26.1 million shares worth nearly ₹400 crore, along with an offer for sale (OFS) of 4.2 million equity shares worth ₹64.26 crore. GK Energy IPO is being offered at a price band of ₹145-153 per share, with a lot size of 98 shares.

 

Investors can bid for a minimum of 98 shares of the GK Energy IPO and in multiples thereof. A retail investor would require a minimum of ₹14,994 to bid for one lot of the GK Energy IPO, and a maximum of 13 lots (1,274 shares) with an investment amount of ₹1,94,922.

 

The GK Energy IPO will remain available for subscription until tomorrow, Tuesday, September 23. Following that, the basis of allotment for GK Energy IPO shares is slated to get finalized on Wednesday, September 24. The successful allottees will receive the company’s shares in their demat accounts on Thursday, September 25.

 

Shares of GK Energy are scheduled to list on BSE and NSE on Friday, September 26.

 

GK Energy will not receive any proceeds from the OFS, and it will be given to selling shareholders. The company, however, intends to use the proceeds from the fresh issue for funding its long-term working capital requirements and general corporate purposes. 

About GK Energy

The company is India’s largest pure-play EPC provider of solar-powered agricultural water pump systems under the PM-KUSUM Scheme. Between Jan 2022 and Jul 2025, it installed 62,559 pumps, holding a 7.37 per cent market share. It is empaneled under the Ministry of New and Renewable Energy in five major states—Maharashtra, Haryana, Rajasthan, Uttar Pradesh, and Madhya Pradesh.