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    GK Energy Ltd

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    GK Energy Ltd IPO opened on 19 Sep 2025 and closed on 23 Sep 2025, with a price band of ₹145–₹153 per share. The IPO had a lot size of 98 shares, requiring a minimum investment of ₹14,994 per lot at the upper price band. The issue size was ₹464.26 crore, and the shares get listed on 26 Sep 2025.

    GK Energy Ltd IPO Details

    Listing Date

    26 Sep 2025

    Bid Price

    ₹145 - ₹153

    Lot Size

    98 Shares

    Minimum Investment

    ₹14,994 / Lot

    Issue Size

    ₹464.26 Cr

    Key Dates to Track

        Here are the important dates you need to know in order to participate in this IPO

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    Offer Start Date

    19th Sep

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    Offer End Date

    23rd Sep

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    Allotment Date

    24th Sep

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    Refund Initiation

    25th Sep

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    Demat Transfer

    25th Sep

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    Listing Date

    26th Sep

    GK Energy Ltd Shareholding Pattern

      Pre-Issue Post-Issue
    Promoter Group 93.29% 79.2%
    Public Group 6.71% 20.8%

    GK Energy Ltd IPO Reservation

    QIB Shares Offered 60,68,758 (20%)
    NII (HNI) Shares Offered 45,51,569 (15%)
    Retail Shares Offered 1,06,20,327 (35%)
    Anchor Investor Shares Offered 91,03,137 (30%)
    Total Shares Offered 3,03,43,792
    Total Shares With Anchor Investor 3,03,43,792

    GK Energy Ltd IPO Lot Size

    Application Lots Shares Amount
    Retail (Min) 1 98 ₹14,994
    Retail (Max) 13 1,274 ₹1,94,922
    S HNI (Min) 14 1,372 ₹2,09,916
    S HNI (Max) 66 6,468 ₹9,89,604
    B HNI (MIN) 67 6,566 ₹10,04,598

    GK Energy Ltd IPO Anchor Portion Size

    Bid Date September 18, 2025
    Shares Offered 91,03,136
    Anchor Investment Details 139.2779808

    GK Energy Ltd IPO registrar

    MUFG Intime India Pvt Ltd
    Phone Number +91 810 811 4949
    Email Id gkenergy.ipo@linkintime.co.in
    Website https://in.mpms.mufg.com

    GK Energy Ltd IPO Lead Manager

    1. IIFL Capital Services Ltd

    2. HDFC Bank Ltd

    GK Energy Ltd Financial Information

    March 31, 2025 March 31, 2024 March 31,
    Net Worth ₹209.09 Cr ₹55.96 Cr ₹ Cr
    Reserves and Surplus ₹175.07 Cr ₹54.66 Cr ₹ Cr
    Total Borrowing ₹217.79 Cr ₹62.29 Cr ₹ Cr

    GK Energy Ltd IPO Subscription LIVE Status

    Category No. of shares offered No. of shares bid Subscription (Times)
    Qualified Institutional Buyers (QIBs) 62,87,724 1,17,13,23,342 186.2873
    Non Institutional Investors (NIIs) 47,67,931 58,51,44,672 122.7251
    Retail Individual Investors (RIIs) 1,11,25,173 23,13,10,968 20.7917
    Total 2,21,80,828 1,98,77,78,982 89.62

    Strength of GK Energy Ltd

    • The leading pure play provider of the EPC of solar-powered pump systems in Maharashtra under the PM-KUSUM Scheme in terms of pump systems installed as at July 31, 2025.
    • Robust Order Book and a growing addressable market for solar-powered pump systems.
    • Decentralised infrastructure and localised workforce enable us to operate across broad geographic areas in five states.
    • Comprehensive support, from installation to after-sales service, thus ensuring a seamless experience for the farmer and increased customer satisfaction.
    • Track record of profitable financial performance and rapidly increasing growth.
    • Experienced senior management with in-depth sector expertise.
    • Well-positioned to seize opportunities in the rooftop solar market.

    Risks Involved

    • We derived Rs.10,873.63 million, Rs.3,743.68 million and Rs.2,580.93 million, equivalent to 99.32%, 91.07% and 90.55% of our revenue from operations for Fiscals 2025, 2024 and 2023, respectively, from the engineering, procurement and commissioning ("EPC") of solar-powered agricultural water pump systems. Any decrease in demand for the EPC of solar-powered agricultural water pump systems could have a material adverse effect on our business, financial condition, results of operations and cash flows.
    • Any failure to recover trade receivables could materially and adversely affect our business, financial condition, results of operations and cash flows.
    • We had net cash used in operating activities in Fiscals 2025, 2024 and 2023. We expect to experience net cash used in operating activities in the future and we will continue to require working capital financing, which if unavailable could adversely affect our ability to operate our business and implement our growth plans.
    • Failure to obtain adequate financing or generate sufficient cash flow to meet our working capital requirements and other liquidity requirements could have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, increasing our borrowings increases our finance costs, thereby adversely affecting our results of operations and cash flows.
    • As we are currently a pure play EPC company, we may find it harder to compete with players that currently manufacture solar panels. Failure to compete effectively in the highly competitive solar-powered pump EPC industry could have an adverse effect on our business, results of operations, financial condition and cash flows.
    • Our revenue from the EPC for solar-powered pump systems - direct-to-beneficiary sales under the PM-KUSUM Scheme was Rs.9,177.52 million, Rs.3,058.22 million and Rs.2,537.23 million, equivalent to 83.83%, 74.39% and 89.02% of our revenue from operations for Fiscals 2025, 2024 and 2023, respectively. If the PM-KUSUM Scheme is not extended beyond its current end date of March 31, 2026 or replaced by similar state government schemes, it could have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, a significant decrease in the number of farmers selecting us as their vendor under the PM-KUSUM Scheme or similar state government schemes, reductions in the amounts paid per solar-powered pump system installed under the PM-KUSUM Scheme or similar state government schemes, any unforeseen change in our eligibility to participate in the PM-KUSUM Scheme or similar state government schemes or any other adverse changes in the PM-KUSUM Scheme or similar state government schemes could have a material adverse effect on our business, financial condition, results of operations and cash flows.
    • We derived Rs.1,656.36 million, Rs.685.29 million and Rs.113.65 million, equivalent to 15.13%, 16.67% and 3.99% of our revenue from operations for Fiscals 2025, 2024 and 2023, respectively, from our top customer in the respective years. The loss of our top customer for Fiscal 2025 and Fiscal 2024 or a material decrease in revenue from it without an equal or more increase in revenue from our other services could have a material adverse effect on our financial condition, results of operations and cash flows.
    • We currently conduct our business in the states of Maharashtra, Chhattisgarh, Haryana, Uttar Pradesh, Rajasthan, and Madhya Pradesh. Any sustained downturn in the economy of any of those states, Maharashtra in particular, could reduce demand for solar-powered pump systems and thereby adversely affect our business, financial condition, results of operations and cash flows.
    • We rely on a limited number of third-party suppliers for components and materials for our business. A failure by a key supplier to perform could have a material adverse effect on our business, financial condition, results of operations and cash flows.
    • Any downgrade of our debt ratings could lead to an increase in our borrowing costs and/or constrain our access to borrowings.
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    Frequently Asked Questions

    What is GK Energy Ltd IPO?

    Answer Field

    GK Energy Ltd IPO is a Mainboard IPO of 3,03,43,792 equity shares of a face value of ₹2 aggregating up to ₹464.26 Crores. The issue is priced at ₹145 to ₹153 per share. The minimum order quantity is 98 Shares. The IPO opens on September 19, 2025, and closes on September 23, 2025. MUFG Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

    When GK Energy Ltd IPO will open?

    Answer Field

    The GK Energy Ltd IPO opens on September 19, 2025 and closes on September 23, 2025.

    What is the lot size of GK Energy Ltd?

    Answer Field

    GK Energy Ltd lot size is 98 shares, and the minimum amount required is ₹14,994.

    How to apply for GK Energy Ltd IPO?

    Answer Field

    You can apply in GK Energy Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

    • Login to Bajaj Broking account App/Website & click on IPO
    • Enter the number of lots and price at which you wish to apply.
    • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
    • You will receive a mandate notification to block funds in your UPI app.
    • Approve the mandate request on your UPI and funds will be blocked.

    When is GK Energy Ltd IPO allotment?

    Answer Field

    The finalization of Basis of Allotment for GK Energy Ltd IPO will be done on September 24, 2025, and the allotted shares will be credited to your demat account by September 25, 2025.

    When is GK Energy Ltd IPO listing date?

    Answer Field

    The GK Energy Ltd listing date is September 26, 2025.

    Who is the registrar of GK Energy Ltd IPO?

    Answer Field

    The registrar of GK Energy Ltd IPO is MUFG Intime India Pvt Ltd

    Which company is the book-running lead manager of the IPO?

    Answer Field

    IIFL Capital Services Ltd,HDFC Bank Ltd will be the book-running lead manager of this IPO.

    What is the fresh issue of GK Energy Ltd IPO?

    Answer Field

    The fresh issue size is ₹400 Crores equity shares.

    What minimum lot size can retail subscribers subscribe to GK Energy Ltd?

    Answer Field

    Retail investors can subscribe to a minimum of one lot, 98 shares and ₹14,994 amount.

    How can I approve the UPI mandate request for GK Energy Ltd IPO?

    Answer Field

    To apply for GK Energy Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

    What is the price range of GK Energy Ltd?

    Answer Field

    The price of each GK Energy Ltd share will be ranging in between ₹145 to ₹153 per share.

    What is the cut-off time for the UPI mandate for GK Energy Ltd IPO?

    Answer Field

    The cut-off time for the UPI mandate confirmation is 5:00 PM, September 23, 2025.

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