GK Energy defies weak market; shares list at 12% premium on NSE, 8% on BSE

GK Energy shares listed at ₹171 per share on the NSE, and at ₹165 per share on the BSE, against the issue price of ₹153 per share

GK Energy share price: Shares of engineering, procurement, and commissioning (EPC) company GK Energy made a positive debut on Dalal Street in otherwise weak markets on September 26, following the completion of its Initial Public Offering (IPO).

 

On the National Stock Exchange (NSE), GK Energy shares listed at ₹171 per share, up ₹18 or 11.76 per cent over the issue price of ₹153 per share. The company’s shares listed at a slightly lower premium on the BSE at ₹165 per share, up ₹12 or 7.84 per cent from the issue price.

 

GK Energy IPO listing came slighlty below grey market estimates. Ahead of the allotment, unlisted shares of GK Energy were commanding a decent premium in the grey market. As of Wednesday, sources tracking grey market activity revealed that the company’s unlisted shares were trading at around ₹171 per share, reflecting a grey market premium (GMP) of ₹31 per share, or 18 per cent over the upper end of the issue price.  CHECK SOLARWORLD ENERGY IPO ALLOTMENT HERE

 

GK Energy IPO details

The public offering comprised 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’s IPO was offered at a price band of ₹145–₹153 per share, with a lot size of 98 shares.

 

The issue received a solid response from investors and ended up being oversubscribed 89.62 times by the end of the subscription period. The demand was fueled primarily by Qualified Institutional Buyers (QIBs), who oversubscribed their reserved category by 186.29 times. Non-institutional investors (NIIs) followed, with an oversubscription of 122.73 times. Meanwhile, retail investors placed fewer bids but still oversubscribed their category by 20.79 times.

 

GK Energy will not receive any proceeds from the OFS, as those will go to the selling shareholders. However, the company intends to use the proceeds from the fresh issue to fund its long-term working capital requirements and for general corporate purposes.  Saatvik Green Energy IPO listing: Stock makes flat debut; quick overview

About GK Energy

GK Energy Ltd. (GEL) is India’s largest pure-play provider of engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems (also referred to as solar-powered pump systems) under Component B of the Central Government’s Pradhan Mantri KUSUM scheme. This is based on the number of solar-powered pump systems installed under the PM-KUSUM Scheme between January 1, 2022, and July 31, 2025. GK Energy offers farmers an end-to-end, single-source solution for the survey, design, supply, assembly, installation, testing, commissioning, and maintenance of solar-powered pump systems.