GK Energy IPO Opens Today; Raises ₹139 Crore from Anchor Investors

New Delhi, September 19, 2025 – GK Energy Limited launched its ₹464 crore Initial Public Offering (IPO) today, September 19, after successfully raising ₹139.28 crore from anchor investors. The company allotted 91,03,136 equity shares at the upper price band of ₹153 per share to a select group of institutional investors on September 18.

Founded in 2008 and headquartered in Pune, Maharashtra, GK Energy Limited is a renewable energy solutions company specialising in engineering, procurement, and construction (EPC) of solar-powered agricultural water pump systems. The company has played a significant role under the PM-KUSUM scheme, completing 42,778 installations by September 2024 with an 8.56% market share.

Its asset-light model leverages third-party suppliers and contractors, focusing on efficient execution and maintenance. With strong government-backed demand and a growing presence across multiple states, GK Energy aims to use IPO proceeds for expansion and working capital needs.

Anchor Investor Allocation

Ahead of its public issue, the company raised ₹139.28 crore from 13 anchor investors, reflecting strong institutional interest. Among the key participants, Pinebridge India Equity Fund, 360 ONE Flexicap Fund, HSBC Flexi Cap Fund, and 3P India Equity Fund 1M each picked up 14.70 lakh shares, accounting for 16.16% of the anchor portion apiece.

Other large allocations went to Motilal Oswal Large Cap Fund, Bandhan Small Cap Fund, and VQ Fastercap Fund II, with each securing close to 4.43 lakh shares worth about ₹6.78 crore. Smaller yet notable allocations were made to Edelweiss Equity Savings Fund and Edelweiss Recently Listed IPO Fund, which together absorbed over 4.43 lakh shares.

On the global front, Citigroup Global Markets Mauritius and Société Générale – ODI each took up 3.26 lakh shares, while AAA India Equity Fund – Scheme I matched their participation. Nuvama Multi Asset Strategy Return Fund also made a significant contribution with more than 4.06 lakh shares allotted.

The strong line-up of domestic mutual funds and global institutions signals broad-based confidence in the company’s fundamentals and growth prospects even before GK Energy IPO hit the market.

Mutual Fund Participation

Of the total anchor allocation, 42.72 lakh shares (46.9%) went to five domestic mutual funds across six schemes. Major allocations included:

• Motilal Oswal Large Cap Fund – 4.43 lakh shares
• Bandhan Small Cap Fund – 4.43 lakh shares
• Edelweiss Equity Savings Fund – 2.22 lakh shares
• Edelweiss Recently Listed IPO Fund – 2.22 lakh shares
• HSBC Flexi Cap & 360 ONE Flexicap – 14.7 lakh shares each

IPO Details

The company launched its ₹464 crore IPO, with the price band fixed at ₹145–₹153 per share. Investors were able to bid in lots of 98 shares, translating to a minimum investment of ₹14,994 at the upper band. The issue opened for subscription on September 19, 2025, and closed on September 23, 2025. The shares are scheduled to make their debut on the bourses on September 26, 2025.

Lead Managers

The issue is being managed by IIFL Securities Limited and HDFC Bank Limited as the Book Running Lead Managers (BRLMs).

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