Upcoming IPO: GK Energy raises ₹100 crore from investors in pre-public offering round

GK Energy Ltd raised ₹100 crore in a pre-initial public offering (IPO) funding round from Valuequest, 360 One (formerly IIFL Wealth) and Kotak AIF, among others.

In its public notice last week, the solar-powered agricultural water pump systems provider said it has undertaken a private placement of 65.36 lakh equity shares for ₹153 apiece, representing 3.70% of the company's pre-offer equity share capital.

Under this, the company allotted shares worth ₹35 crore to Valuequest India G.I.F.T. Fund, VQ FasterCap Fund II (₹30 crore), 360 One High Growth Companies Fund (₹15 crore), 360 One Equity Opportunities Fund—Series 4 (₹10 crore), Kotak Iconic Fund (₹5 crore) and Kotak Iconic Fund II (₹5 crore).

GK Energy's proposed IPO comprises a fresh issue of up to ₹500 crore and an offer for sale of up to 84 lakh equity shares by selling shareholders.

Proceeds from the fresh issue to the tune of ₹422.46 crore will be used to fund its long-term working capital requirements, and the remaining funds for general corporate purposes.

GK Energy is an Indian company specialising as an Engineering, Procurement, and Commissioning (EPC) provider, primarily focusing on solar-powered agricultural pump systems under the PM-KUSUM Scheme and other government initiatives like the Jal Jeevan Mission. They also offer rooftop solar solutions, supply solar products, and engage in the trading of PV cells and modules. 

According to media reports, the company had installed the highest number of solar-powered pumps under the PM-KUSUM scheme between January 1 and December 3.

The firm had filed for a draft red herring prospectus (DRHP) in December 2024 and been given permission to go for a pre-IPO round in August 2025.

The company’s revenue from operations increased to ₹1,094 crore in FY25 from ₹285 crore in FY23—at a CAGR of 96%. Its net profit jumped to ₹133 crore as compared to ₹10 crore in the same period.