GK Energy IPO Subscription Reaches 2.69 Times on Day 1

The GK Energy IPO has received a strong response from investors, with a subscription of 2.69x by the end of Day 1. The company is offering shares at a price of Rs. 145 to Rs 153 per share, with a minimum lot size of 98 shares. The issue size stands at 3,03,43,790 shares (aggregating up to Rs 464.26 crore), comprising only offer for sale. Stay tuned for the latest updates on the GK Energy IPO subscription status as the offering progresses.

GK Energy IPO Subscription Status - Day 1

The GK Energy IPO was subscribed 2.69 times on Day 1, with Retail Investors at 2.83 times, Non-Institutional Investors (NIIs) with a demand at 2.74 times, and Qualified Institutional Buyers (QIBs) at 2.40 times.

Last updated: 05:04 PM, Friday, 19 Sept 2025

Company Overview of the GK Energy IPO

GK Energy Limited is India’s leading engineering, procurement, and commissioning (EPC) provider specializing in solar-powered agricultural water pump systems, predominantly under the Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan (PM KUSUM) scheme. Their expertise extends to supplying proprietary solar dual water pump systems to local government entities, positioning the company as a pivotal player in supporting rural irrigation and agricultural mechanization across various key agrarian states nationwide. With a rich track record of over one year actively installing solar pumps and engaging a robust workforce, GK Energy Limited is recognized for its large-scale implementations under government-backed rural electrification initiatives.

The company is committed to providing sustainable energy solutions that benefit both the environment and rural communities, with an emphasis on affordable solar installation and high service standards. GK Energy Limited’s offerings include a product portfolio tailored to agricultural needs, project executions with a strong client satisfaction record, and extensive FAQ resources to educate stakeholders about solar technology, benefits, and environmental impact.

Strengths and Risks of GK Energy IPO

Let’s dive into the strengths and risks to assess if the GK Energy IPO is good or bad for investors

Strengths

• Strong Revenue Growth and Profitability: The company has demonstrated robust CAGR in revenue around 90% over the last 3 years and significant profit growth, indicating improving financial health and operational efficiency.

• Market Leadership in Solar EPC: GK Energy is India’s largest pure play EPC provider for solar-powered agricultural water pump systems with a strong presence under government schemes like PM KUSUM, offering good government backing and demand visibility.

• Robust Order Book and Execution Capabilities: The company maintains a large order book approx Rs 1,028 crore as of mid-2025, providing revenue visibility and has proven execution skills in a growing renewable energy sector.

• Growing Renewable Energy Sector Tailwind: Benefit from India’s strong governmental push towards sustainable energy and rising market demand for solar-powered solutions, positioning the company for future expansion

Risks

• High Dependence on Government Subsidy Schemes: Heavy reliance on PM KUSUM scheme subsidies, which are scheduled to end by March 2026, creates uncertainty if these policies are not extended or changed.

• High Debt Levels and Cash Flow Concerns: The company has considerable borrowings and operational cash flows have been negative or weak at times despite profit growth, impacting financial flexibility.

• Customer and Geographic Concentration: Revenue is concentrated in a few key states and a limited set of large customers, increasing vulnerability to project delays or regional policy changes.

• Industry Competition and Market Risks: As a pure play EPC provider, GK Energy faces competition from integrated manufacturers and risks from fluctuating input costs impacting margins.

GK Energy IPO Details

• IPO Date: September 19, 2025, to September 23, 2025

• Issue Price: Rs 145 to Rs 153 per share

• Lot Size: 98 shares

• Total Issue Size: 3,03,43,790 shares (aggregating up to Rs 464.26 crore)

• Tentative Allotment Date: Wednesday, September 24, 2025

• Tentative Listing Date: Friday, September 26, 2025

How to Apply for GK Energy IPO

• Visit the Rupeezy app or Rupezy DOCK.

• Navigate to the IPO section on the Home Page

• Here, you can view all the IPOs with details such as market lot, minimum bid quantity, price range, and analysis.

• You can read the Red Herring Prospectus for the issue details.

• Click on Apply.

• Enter your UPI ID for payment & place the bid.

• While placing the bid, enter the cutoff price or desired price in the range specified. Select quantity as per lot size. 

• Submit to complete the order.