GK Energy IPO

GK Energy IPO

Power Generation/Distribution
open
₹14,210Min. investment
  1. Pre-apply
    17 Sep
  2. Bid start
    19 Sep
  3. Bid end
    23 Sep
  4. Allotment
    24 Sep
  5. Release of funds
    25 Sep
  6. Demat transfer
    25 Sep
  7. Listing
    26 Sep

About GK Energy Limited

SectorPower Generation/Distribution
Price range₹145 – ₹153
IPO type
Regular
Lot size98 shares
Issue size₹464Cr
Red Herring Prospectus
Read
Market Cap
₹3,103CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹1,094.8CrLower than sector avg
Growth rate3Y CAGR
56.60%Higher than sector avg

GK Energy Limited IPO Overview

GK Energy Limited IPO date

GK Energy Limited IPO will open for subscription on September 19, 2025, and the closing date for the IPO is September 23, 2025. After this, investors are expected to be updated about the allotment status on September 24, 2025.

Investors who have been allotted shares can expect them to be credited to their demat account on September 25, 2025. The shares will be listed on the NSE and the BSE on Friday, September 26, 2025.

GK Energy Limited IPO price band

The IPO includes an offer for sale. The IPO price band has been set between ₹145 to ₹153 per share. Interested investors can choose a price within this band to apply for the IPO.

The IPO is a book-building issue, comprising a fresh issue of ₹400 crore and an offer for sale of ₹64.26 crore only.

GK Energy Limited's IPO listing price will be determined on September 26, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.

GK Energy Limited IPO lot size

GK Energy Limited IPO details have been declared. The minimum lot size for an application is 98 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹ 464.26 crore.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
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The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

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Revenue
Higher revenue means strong sales and good market demand
This IPO
₹1,094.8Cr
This sector
₹7,783.3Cr
Compare with companies
3Y growth
Strong 3-year growth shows consistent progress and potential
This IPO
56.60%
This sector
0.01%
Compare with companies
PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹133.21Cr
This sector
₹1,281.2Cr
Compare with companies
Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹3,103Cr
This sector
₹38,103.65Cr
Compare with companies
P/E ratio
Lower ratio usually means stock is undervalued
This IPO
19.47
This sector
45.35
Compare with companies
D/E ratio
Lower ratio usually means fewer liabilities
This IPO
0.74
This sector
2.10
Compare with companies

Objectives

Working capital requirements
80.61%
General corporate purposes
19.40%

Strength and Weakness

Market leadership in Maharashtra

GK Energy is the leading pure-play EPC provider of solar-powered pump systems under the PM-KUSUM scheme in Maharashtra, with about 15% market share as of July 2025. The company installed approximately 5,500 solar-powered pump systems under government schemes in Maharashtra.

Strong order book

As of August 2025, the company had an order book of about ₹1,028.96 crores, primarily comprising solar-powered pump projects. This healthy backlog indicates consistent revenue over the coming quarters and reflects strong demand momentum under the ongoing government schemes.

Strong demand from farmers

Farmers are increasingly opting for solar pumps due to lower operating costs compared to diesel pumps, reliable daytime availability of power, and protection against frequent grid failures and voltage fluctuations. This shift in preference supports long-term growth for GK Energy.

Decentralised infrastructure and localised workforce

The company has a decentralised infrastructure, comprising 12 warehouses in 3 states as of August 30, 2025, and a localised workforce of 90 employees and 709 workmen as of March 31, 2025, which enables it to efficiently operate across broad geographic areas in five key states.

About GK Energy Limited

GK Energy Limited is India's largest pure-play EPC supplier of solar-powered agricultural water pump systems under the PM-KUSUM scheme. The company offers an end-to-end single-source solution that includes survey, design, supply, installation, testing, commissioning, and maintenance of solar pump systems.
The company is empanelled as a vendor with the Ministry of New and Renewable Energy in key agricultural states such as Maharashtra, Haryana, Rajasthan, Uttar Pradesh, and Madhya Pradesh.
The company’s operations are backed by 12 warehouses, situated across three states and a staff model integrated with 90 personnel, along with 700+ third-party installers. As of August 15, 2025, the company had an order book of ₹1,028.96 crore, comprising a solar-powered pump system (SPPS) order book of ₹1,008.8 crore and rooftop solar system orders of ₹20.08 crore.
The company’s revenue is mainly focused on EPC services for solar-powered pumping systems, which accounted for 99.32% of operating revenue in FY25. Other EPC services included rooftop solar and Jal Jeevan Mission projects. Maharashtra led the revenue regionally, contributing more than 90% of FY25 revenue, followed by Haryana, Rajasthan, and Uttar Pradesh.
It is an approved vendor under state-specific initiatives, such as Maharashtra's Magel Tyala Saur Krushi Pump Yojana, Madhya Pradesh's Pradhan Mantri Krishak Mitra Surya Yojana, and Chhattisgarh's Saur Sujala Yojana. It also implements projects under the Jal Jeevan Mission, which deals with water storage and distribution infrastructure, and distributes solar products like streetlights, heaters, and home-lighting systems.
India's shift to renewable energy is opening up massive rooftop solar opportunities on a large scale. As the government continues to provide more support with schemes such as the PM Surya Ghar Yojana, and as public awareness of clean energy increases, the demand for rooftop solar systems is increasing. GK Energy is using its solar-powered pump EPC experience to expand into rooftop solar projects. By August 2025, it had already won rooftop orders of ₹23.29 crore, which equates to 5.28 MW of capacity. The company is leveraging the similarity in pump and rooftop systems, differing largely in terms of installation location (ground vs. roof) and system elements (controller vs. inverter). It is set to scale up in the rooftop solar space.
GK Energy is focusing on replicating its success in Maharashtra across high-potential states such as Haryana, Rajasthan, Uttar Pradesh, and Madhya Pradesh, which together account for a majority of national PM-KUSUM allocations. Alongside, it is developing a vendor ecosystem to ensure consistent component supply and is exploring new opportunities such as solarising grid-connected pumps, selling larger capacity pumps to non-subsidised farmers, and expanding rooftop offerings to commercial and industrial customers.
Now, GK Energy Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹400 crore and an offer for sale of ₹64.26 crore. The total issue size of the IPO is ₹464.26 crore. Its shares will be listed on the NSE and BSE.

Latest News on IPO

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GK Energy IPO: The ₹464.26 crore public offer is a mix of fresh issuance of shares valued at ₹400 crore as well as an offer for sale (OFS) of ₹64.26 crore. The price band has been set at ₹145 to ₹153 per share.

2 min read

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Solar-powered agricultural water pump systems provider GK Energy Ltd has filed preliminary papers with markets regulator SEBI to garner funds through an initial public offering (IPO). The company plans a pre-IPO placement of shares aggregating to ₹100 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced.
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Upcoming IPOs: BlueStone Jewellery and Lifestyle, which offers fine jewellery under its flagship brand "BlueStone", is looking to raise ₹1,000 crore via a fresh issue. It also has an offer for sale (OFS) component of 2.4 crore equity shares.

3 min read

Frequently asked questions

How to invest in the IPO?

Investors can apply for the IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of GK Energy IPO ?

The issue size of the GK Energy IPO is 464 Cr.

What is 'pre-apply' for GK Energy IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will GK Energy IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Ipo opens on 19 Sep 2025, 10:00 AM