GK Energy IPO Subscription Status

The GK Energy IPO concluded on 23 September 2025 with an overall subscription of 93.58 times as of 5:00 PM on the final bidding day, reflecting exceptionally strong investor interest.

• Qualified Institutional Buyers (QIB): 193.01x
• Non-Institutional Investors (NII): 128.56x
• Retail Individual Investors (RII): 21.78x

Investors placed bids for 1,98,77,63,792 shares against the total offer of 2,12,40,655 shares.

Daily subscription trend:

• Day 1: 2.69x
• Day 2: 6.70x
• Day 3: 93.58x (final tally)

The heavy QIB participation highlights strong institutional confidence and positions this IPO among the most oversubscribed issues of 2025.

About GK Energy Limited

Founded in 2008, GK Energy Limited is a leading provider of engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems. The company operates primarily under Component B of the Central Government’s PM-KUSUM Scheme, which promotes solar irrigation across India.

Between 1 January 2022 and 31 July 2025, GK Energy emerged as one of the fastest-growing players in terms of the number of solar pump installations under this scheme.
The company offers a comprehensive one-stop solution for farmers, covering survey, design, supply, installation, testing, commissioning, and maintenance of solar-powered pumps.

Key operational highlights:

• Asset-light model: GK Energy sources solar panels, pumps, and key components from established manufacturers, reducing capital expenditure and ensuring scalability.
• Infrastructure: As of 30 August 2025, the firm operates 12 warehouses across three states, enabling faster delivery and service.
• Workforce: A team of 90 full-time employees and 709 contractual workmen supports projects across five Indian states, ensuring efficient execution.

This integrated approach helps the company maintain flexibility, reduce overhead, and scale rapidly in India’s renewable energy sector.

Financial Performance

• Revenue: ₹412.31 crore in FY 2023–24 versus ₹285.45 crore in FY 2022–23 (a robust ~44% year-on-year growth).
• Profit After Tax (PAT): ₹36.09 crore in FY 2023–24, sharply higher than ₹10.08 crore in FY 2022–23—over a 250% jump in net profit, reflecting improved margins and operational efficiency.
• EBITDA Margin (FY 2024): Estimated around 15%, highlighting strong cost management despite rising raw material expenses.

The company’s strong revenue trajectory underscores the growing adoption of solar irrigation solutions and the government’s continued push for renewable energy.

Grey Market Premium (GMP)

As of Tuesday, 23 September 2025, the GK Energy IPO recorded a grey market premium (GMP) of ₹23, indicating its shares were trading at ₹176—a ₹23 premium over the issue price of ₹153 in the unofficial market.
This suggests optimistic listing expectations, though final market performance will depend on broader sentiment and listing-day demand.