GK Energy IPO Fully Subscribed on Day 1 with Strong QIB and Retail Support

New Delhi, September 19, 2025 – The Initial Public Offering (IPO) of GK Energy Limited, which is worth ₹464 crore, garnered excellent bidding on its opening day. At 4:49 PM, the issue was 2.66 times subscribed overall, indicating strong participation from investors across all categories.

Founded in 2008 and located in Pune, GK Energy is one of the leading EPC service providers in the industry for solar agricultural water pump systems. The company has completed over 42,000 installations across PM-KUSUM and state renewable energy schemes. It maintains a strong national market share of 8.56% as of September 2024, making GK Energy an important player in India’s renewable energy market.

Strong Participation from Investors

Qualified Institutional Buyers (QIBs) demonstrated strong confidence, bidding 2.40 times their allotted allocation. Non-Institutional Investors (NIIs) also showed robust interest, subscribing for 301,834 shares—2.72 times their allocation. Breaking it down further, smaller NIIs bid 4.69 times their allotted shares, while larger NIIs placed bids at 1.74 times their allocation. Retail investors showed even greater enthusiasm, subscribing 2.80 times their allotted shares and placing bids nearly three times the amount allocated to them.

Price Band Attracts Heavy Bidding

GK Energy IPO is priced in the range of ₹145 to ₹153 per share, with strong interest leaning towards the upper end. Bids at ₹153 surged to 4.61 crore shares, while cut-off bids accounted for 2.00 crore shares. This demonstrates significant conviction, especially among retail investors, suggesting that GK Energy’s offering is viewed as attractively priced with promising growth potential.

Anchor Investors Provide Early Boost

Before the issue, GK Energy raised ₹139.28 crore via its anchor book, allocating more than 91 lakh shares at ₹153 apiece. The anchor book included key domestic and global institutions such as Pinebridge India, HSBC Flexi Cap, Motilal Oswal Large Cap, Bandhan Small Cap, Citigroup and Société Générale. The anchor allocation helped to build investor confidence before the IPO opening to the public.

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