GK Energy IPO will open for subscription on September 19, 2025, and close on September 23, 2025. Incorporated in 2008, GK Energy Limited provides engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems under the PM-KUSUM Scheme.
Further details on the IPO will cover the issue size, price band, financial performance in recent years, peer comparison, and risk factors.
GK Energy IPO Date
The key pointers for the GK Energy IPO dates are:
- Bidding Opening Date: September 19, 2025
- Bidding Closing Date: September 23, 2025
- Allotment Date: September 24, 2025
- Initiation of Refunds (in case of less or no allotment): September 25, 2025
- Shares Credited to Your Demat Account: September 25, 2025
- IPO Listing Date: September 26, 2025
- Listing on Exchange: BSE and NSE
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GK Energy: IPO Issue Size
GK Energy IPO valuation, as denoted by the market capitalisation, stood at ₹3,103.10 crores. Here are the essential details:
- GK Energy IPO Price Band: ₹145 to ₹153 per share
- Lot Size: 98 Shares
- Issue Size and Amount: 3.03 crore shares (aggregating up to ₹464.26 crores)
- Fresh Issue: 2.61 crore shares (aggregating up to ₹400 crores)
- Offer for Sale: 42 lakh shares of ₹2 (aggregating up to ₹64.26 crores)
GK Energy IPO Proceeds Usage
The net proceeds from the GK Energy IPO are proposed to be utilised for the following purposes:
- Working Capital Requirements: To meet the company’s long-term working capital needs and ensure smooth operational growth.
- General Corporate Purposes: To be applied towards broader business needs and other strategic corporate objectives.
GK Energy IPO Reservations
GK Energy IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net Offer
- For NIIs: Not less than 15% of the Net Offer
- For Retail Investors: Not less than 35% of the Net Offer
GK Energy IPO Lot Size
GK Energy IPO lot size is 98 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 98 | ₹14,994 |
| S-HNI (Min) | 14 | 1,372 | ₹2,09,916 |
| B-HNI (Min) | 67 | 6,566 | ₹10,04,598 |
GK Energy IPO Details: Promoter Holding
Gopal Rajaram Kabra and Mehul Ajit Shah are the company promoters.
GK Energy Ltd: Company Overview
GK Energy Limited, incorporated in 2008, provides engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems.
The company operates under Component B of the Government’s Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan (PM-KUSUM) scheme, where it has installed a large number of solar-powered pump systems between January 1, 2022, and December 3, 2024.
The company offers farmers a complete solution that covers everything from survey and design to supply, assembly, installation, testing, commissioning, and ongoing maintenance of solar-powered pumps.
GK Energy follows an asset-light business model, sourcing solar panels, pumps, and other components from specialised vendors and marketing them under the “GK Energy” brand. This approach helps the company stay cost-efficient and flexible.
GK Energy Limited: Financial Performance
GK Energy Ltd’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | 31 Mar 2025 (Consolidated) |
31 Mar 2024 (Standalone) |
YoY Change |
|---|---|---|---|
| Total Income | 1,099.18 | 412.31 | 167% |
| Profit After Tax (PAT) | 133.21 | 36.09 | 269% |
| EBITDA | 199.69 | 53.83 | 271% |
| Net Worth | 209.09 | 55.96 | 274% |
| Assets | 583.62 | 214.08 | 173% |
| Total Borrowing | 217.79 | 62.29 | 250% |
- Revenue Growth: Total income rose sharply by 167%, climbing from ₹412.31 crores in FY24 to ₹1,099.18 crores in FY25, reflecting strong execution under renewable energy projects.
- Profitability: PAT increased by 269%, from ₹36.09 crores in FY24 to ₹133.21 crores in FY25, showcasing a significant improvement in profitability.
- EBITDA Performance: EBITDA jumped 271%, moving from ₹53.83 crores in FY24 to ₹199.69 crores in FY25, highlighting robust operating performance.
- Strengthened Net Worth: Net worth surged by 274%, growing from ₹55.96 crores in FY24 to ₹209.09 crores in FY25, driven by rising profits.
- Asset Base: Total assets increased by 173%, rising from ₹214.08 crores in FY24 to ₹583.62 crores in FY25, reflecting higher investments and business growth.
- Debt Position: Borrowings increased by 250%, from ₹62.29 crores in FY24 to ₹217.79 crores in FY25, mainly due to funding requirements for scaling operations.
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GK Energy IPO: Peer Comparison
Here’s the peer comparison table for GK Energy IPO with its listed peers:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | RoNW (%) |
|---|---|---|---|
| GK Energy Limited | 7.86 | 20.29 | 63.71 |
| Shakti Pumps (India) Ltd. | 33.97 | 24.11 | 35.20 |
| Oswal Pumps Limited | 28.21 | 29.00 | 93.00 |
- EPS: GK Energy lags behind Shakti Pumps (₹33.97) and Oswal Pumps (₹28.21), reflecting lower earnings per share.
- P/E: GK Energy’s pre-IPO PE ratio is 20.29 as compared to Shakti (24.11) and Oswal (29), making it relatively cheaper.
- RoNW: GK Energy shows much stronger return efficiency than Shakti (35.20%) but trails behind Oswal (93%).
GK Energy IPO Risk Factors
GK Energy IPO GMP is ₹44 as of September 18, 2025 (at 16:58). It is expected to list at a 28.76% gain at a price of ₹197. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
GK Energy IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Customer Concentration: A significant part of the company’s revenue comes from the top 3 customers. If these customers are lost or reduce orders, and the company cannot replace this revenue from other clients, its financial performance and cash flows could be affected.
- Geographic Dependence: GK Energy’s operations are focused mainly in Maharashtra, Chhattisgarh, Haryana, Uttar Pradesh, and Rajasthan. An economic slowdown or reduced demand for solar-powered pump systems in any of these states could hurt its business and growth prospects.
- Supplier Reliance: The company depends on a few third-party suppliers for critical components and materials. Any delay, shortage, or failure by these suppliers to meet commitments could disrupt operations and negatively impact the company’s financial health and cash flows.
For all the insights on GK Energy IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the GK Energy IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. When will the GK Energy IPO open and when is the listing date?
GK Energy IPO opens for subscription on September 19, 2025, and closes on September 23, 2025. The allotment will be finalised on September 24, 2025, and the shares are expected to list on September 26, 2025, on both BSE and NSE.
2. What is the GK Energy IPO price band and lot size?
The price band for the IPO is ₹145 to ₹153 per share, with a lot size of 98 shares. The minimum investment for retail investors is ₹14,994 for one lot, while the maximum retail application is 13 lots (₹1,94,922).
3. What is the size of the issue, and how will the proceeds be used?
The IPO issue size is 3.03 crore shares, aggregating up to ₹464.26 crores. This includes a fresh issue of ₹400 crores and an offer for sale of ₹64.26 crores. Net proceeds will be used mainly to meet long-term working capital requirements and for general corporate purposes.
References:
https://www.sebi.gov.in/filings/public-issues/sep-2025/gk-energy-limited-rhp_96636.html
https://www.investorgain.com/gmp/gk-energy-ipo-gmp/1433/
Author: All Content is verified by SMC Global Securities.
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