Saatvik Green Energy makes disappointing debut; GK Energy jumps 10%

Saatvik Green Energy slips 5% on debut, GK Energy jumps nearly 10%; Aarvee Engineering and Deon Energy file draft papers with Sebi for upcoming IPOs

Shares of solar panel maker Saatvik Green Energy on Friday made a disappointing market debut and settled lower by over 

5 per cent against the issue price of ₹465. 

The stock listed at ₹460, a discount of 1.07 per cent from the issue price of ₹465 on the BSE. Later, it fell by 8.15 per cent to ₹427.10. Shares of the firm finally ended at ₹439.70, down 5.44 per cent. At the NSE, the stock listed at par with the issue price of ₹465. It later ended at ₹440.70, down by 5.22 per cent. The company’s market valuation stood at ₹5,588.81 crore. Saatvik Green Energy’s initial public offering garnered 6.57 times subscription on the closing day of bidding on Tuesday. The IPO had a price band of ₹442-465 per share. 

 

 

GK Energy jumps 10% in inaugural trade 

Shares of GK Energy Ltd, a solar-powered agricultural water pump systems provider, on Friday ended with a premium of nearly 10 per cent against the issue price of ₹153. 

The stock started trading at ₹165, a jump of 7.84 per cent from the issue price on the BSE. During the day, it surged 15 per cent to ₹175.95. Shares of the firm finally ended at ₹167.75 apiece, up 9.64 per cent. On the NSE, the stock got listed at ₹171, a premium of 11.76 per cent. It ended at ₹167.74 per share, a jump of 9.63 per cent. The firm’s market valuation stood at ₹3,402.26 crore. The initial public offering received 89.62 times subscription as it drew to a close on Tuesday. 

Aarvee Engineering Consultants files draft papers with Sebi 

Infrastructure consultancy firm Aarvee Engineering Consultants Ltd has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO), comprising fresh issuance of shares worth ₹202.5 crore. 

Apart from the issue, there will be an offer-for-sale (OFS) component of 6.75 million shares by a promoter, according to the draft red herring prospectus filed on Thursday. 

The Hyderabad-headquartered company, may consider a pre-IPO placement of equity shares aggregating up to ₹40.5 crore. If such placement is completed, the amount raised will be reduced from the fresh issue accordingly. 

For FY25, the company reported revenue from operations of ₹567 crore and a profit after tax of ₹51 crore. 

Deon Energy files papers for ₹150 cr public issue 

Renewable energy solutions provider Deon Energy has filed draft papers with markets regulator Sebi seeking its approval to garner ₹150 crore through an initial public offering (IPO). 

The company’s maiden public offering is entirely a fresh issue of shares with no offer-for-sale component, draft red herring prospectus  filed on Thursday showed. 

Funds raised through the IPO to the tune of ₹100 crore will be utilised for funding the company’s long-term working capital requirements, and a portion will be earmarked for general corporate purposes.