GK Energy Ltd. announced the price band, lot size, and other details of its initial public offering set to open on Sept. 19 and close on Sept. 23. The IPO consists of a fresh issue of equity shares worth Rs 400 crore and an offer for sale of 42 lakh shares by promoters aggregating to Rs 64 crore.
Investors can bid in the IPO at a price range of Rs 145 to Rs 153 per share, according to a public advertisement on Tuesday. The minimum bid size is 98 equity shares for Rs 14,994 at the upper price band.
The company will invite bids from institutional investors in the pre-IPO anchor round on Sept. 18. It has already raised Rs 100 crore from Valuequest, 360 One, and Kotak AIF by allotting 65.36 lakh equity shares at Rs 153 apiece.
Under the offer-for-sale segment, promoter Gopal Rajaram Kabra will offload 40 lakh shares while promoter Mehul Ajit Shah will sell two lakh shares.
The company will allot shares to IPO investors on Sept. 24 and the shares will be listed on the BSE and NSE on Sept. 26.
IIFL Capital Services Ltd. and HDFC Bank Ltd. are the book-running lead managers for the issue.
GK Energy offers an end-to-end single-source solution for the survey, design, supply, assembly, installation, testing, commissioning, and maintenance of solar-powered pump systems. It is India’s largest pure-play provider of engineering, procurement and commissioning services for solar-powered agricultural water pump systems, according to its offer documents.
The company also offers other EPC services, comprising the erection and installation of water storage and distribution facilities under the Modi government's Jal Jeevan Mission.
Funds worth Rs 422.4 crore from the fresh issue proceeds will be used for funding their long-term working capital requirements and the rest will be deployed for general corporate purposes.
GK Energy filed its draft papers with the Securities and Exchange Board of India in December 2024 and received IPO approval in April 2025.
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