GK Energy’s IPO Oversubscribed 89.62 Times

GK Energy’s IPO, with a fresh issue of INR 500 crore and OFS of up to 84,00,000 equity shares, closed oversubscribed 89.62 times on September 23, 2025. The stock is expected to be listed on September 26, 2025 on BSE and NSE.

September 24, 2025. By Mrinmoy Dey

Maharashtra-based solar-powered agricultural water pump systems provider GK Energy’s initial public offering (IPO) closed with an oversubscription of 89.62 times on September 23, 2025, reflecting strong investor appetite across categories.

The issue, priced in the range of INR 145-153 per equity share (with a face value INR 2), attracted bids for 198 crore shares against 2.218 crore on offer.

The demand was led by qualified institutional buyers (186.29x), followed by non-institutional investors (122.72x) and retail investors (20.79x). The stock is slated for listing on the BSE and NSE on September 26, 2025.

The IPO comprises a fresh issue of equity shares aggregating up to INR 500 crore and an Offer for Sale (OFS) of up to 84,00,000 equity shares by existing shareholders.

As per the red herring prospectus, the IPO proceeds will be primarily used to meet long-term working capital needs of INR 422.26 crore, with the balance earmarked for general corporate purposes.

The company specialises in EPC services for rooftop solar systems and solar water pumps, with significant participation in government initiatives such as the PM-KUSUM program.

The company has shown an impressive financial trajectory over the past two fiscal years. Revenue from operations soared nearly 3.8 times from INR 285.03 crore in FY23 to INR 1,094.83 crore in FY25.

Operating EBITDA increased by 11.6 times, jumping from INR 17.18 crore in FY23 to INR 199.68 crore in FY25. Profit after tax (PAT) demonstrated an equally remarkable rise of 13.2 times, going from INR 10 crore in FY23 to INR 133.20 crore in FY25.

Tags:

GK Energy financial performance

If you want to cooperate with us and would like to reuse some of our content,
please contact: contact@energetica-india.net.

Next events

Renewable Energy India Expo 2025

October 30, 2025

The Renewable Energy India Expo (REI Expo) showcases India’s achievements in renewable energy and industry progress. In its remarkable 17th edition, the event brought together top brands and over 800 suppliers, featuring a diverse range of prod...

more information