GK Energy IPO opens on September 19: From price band to objectives, key things to know

GK Energy IPO: The initial public offering of GK Energy will hit the primary market on Friday, September 19. The issue will end on September 23. The bidding window for anchor investors will be open on September 18.

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.

Under the OFS, promoters Gopal Rajaram Kabra and Mehul Ajit Shah will be offloading their stake.

The money generated will be utilised for long-term working capital requirements and corporate general purposes.

GK Energy IPO: Lot size

A lot consists of 98 shares and in multiples thereafter. Half of the net offer has been set aside for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

GK Energy IPO: Key dates

IIFL Capital Services Limited and HDFC Bank Limited are the issue's book running lead managers, while MUFG Intime India Private Limited is the registrar.

About GK Energy

GK Energy is the largest pure-play provider of EPC services for solar-powered agricultural water pump systems in India under Component B of the government's PM-KUSUM Scheme.

It provides farmers an end-to-end single-source solution from survey, design, and supply to commissioning and maintenance of solar-powered pump systems. It has been empanelled as a vendor under the Ministry of New and Renewable Energy (MoNRE) for the PM-KUSUM Scheme in Maharashtra, Rajasthan, Haryana, Uttar Pradesh and Madhya Pradesh.

It is also empanelled under several state government schemes like Maharashtra’s Magel Tyala Saur Krushi Pump Yojana, Chhattisgarh’s Saur Sujala Yojana, and Madhya Pradesh’s Pradhan Mantri Krishak Mitra Surya Yojana.