Here are the full details (as of latest public filings) for GK Energy Limited IPO:
Company: GK Energy Ltd, Pune (EPC provider for solar-powered agricultural water pump systems etc.)
What they do: Engineering, Procurement & Commissioning (EPC) of solar-powered agricultural water pump systems; also involved in water storage and distribution under Jal Jeevan Mission; trading of solar modules/cells; rooftop solar etc.
IPO Dates
- Opening Date: 19 September 2025
- Closing Date: 23 September 2025
- Allotment Date: 24 September 2025
- Initiation of Refunds: 25 September 2025
- Credit of Shares to Demat: 25 September 2025
- Listing Date: 26 September 2025
IPO Details
- Face Value: ₹2 per equity share
- Price Band: ₹145 to ₹153 per share
- Lot Size: 98 shares
- Sale Type: Fresh Capital-cum-Offer for Sale
- Total Issue Size: 3,03,43,790 shares
- Fresh Issue: 2,61,43,790 shares
- Offer for Sale: 42,00,000 shares
- Issue Type: Bookbuilding IPO
- Listing At: BSE, NSE
- Share Holding Pre Issue: 17,66,73,476 shares
- Share Holding Post Issue: 20,28,17,266 shares
GMP of GK Energy Limited IPO
I couldn’t find a confirmed, reliable Grey Market Premium (GMP) for GK Energy Limited IPO in the sources I checked.
Promoters of GK Energy Limited
Here are the promoters of GK Energy Limited along with their publicly available personal / professional details. This is based on the company website, IPO filings and other public disclosures.
- Gopal Rajaram Kabra
- Mehul Ajit Shah
Gopal Rajaram Kabra
- He is the Chairman, Managing Director and Chief Executive Officer of GK Energy Limited.
- Gopal Kabra holds a bachelor’s degree in commerce from Swami Ramanand Teerth Marathwada University, Nanded and an MBA in marketing from Vishwakarma School of Business Management & Research.
- He has around 17–18 years of experience in the solar power and renewable energy EPC sector and has been associated with the company since it began operations in 2008.
- Before that, he was also a partner in a firm called Energy Marketers from 2007.
- He was honoured with the “Udyog Ratan Award” in 2013 by the Institute of Economic Studies, New Delhi, for his contribution to industry.
Mehul Ajit Shah
- He is the Whole-time Director and Chief Operating Officer of GK Energy Limited.
- Mehul Shah has a bachelor’s degree in commerce and an MBA from the University of Pune.
- He has roughly 13 years of experience in the solar power and EPC industry and has been with the company since April 26, 2011.
- He is responsible for overseeing project administration and execution within GK Energy.
GK Energy Limited IPO Lot Size
Here is the lot size for the GK Energy Limited IPO, along with related info:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 98 | ₹14,994 |
| Retail (Max) | 13 | 1,274 | ₹1,94,922 |
| S-HNI (Min) | 14 | 1,372 | ₹2,09,916 |
| S-HNI (Max) | 66 | 6,468 | ₹9,89,604 |
| B-HNI (Min) | 67 | 6,566 | ₹10,04,598 |
GK Energy Limited IPO Promoter Holding
Here is the information available on promoter shareholding for GK Energy Limited IPO:
| Promoter Holding Pre Issue | 93.29% |
| Promoter Holding Post Issue | 78.64% |
- Promoter holding pre-issue: ~ 93.29 %
- Promoter holding post-issue: ~ 78.64 %
About GK Energy Limited
- GK Energy is an engineering, procurement and commissioning (EPC) company specializing in solar-powered agricultural water pump systems, especially under the Indian government’s PM-KUSUM scheme.
- It also undertakes EPC work under Jal Jeevan Mission (water storage and distribution), rooftop solar solutions, and supplies/trades solar modules, PV cells, and related solar products.
Scale, Reach & Operations
- Founded in 2008, headquartered in Pune, Maharashtra.
- It claims to be India’s largest pure-play EPC provider of solar agricultural pump systems under Component B of the PM-KUSUM scheme, by installations.
- Operates in multiple states: major presence in Maharashtra, Haryana, Rajasthan, Uttar Pradesh, also Madhya Pradesh and others.
- Infrastructure: Decentralised network of warehouses (12-13 across some states) to facilitate storage and logistics. Workforce includes both regular employees and many workmen for on-ground operations.
Challenges & Risks
- Rapidly rising costs & expenses: For instance, total expenses nearly doubled in certain periods, cash flows from operations have turned negative in some half-year periods.
- Working capital / receivables: Like many EPC firms or businesses dependent on government schemes, there is exposure to delays in payments, subsidy flows etc.
- Concentration risk: A large part of its business is solar pumps under PM-KUSUM & similar government programmes; dependence on policy continuity, subsidy implementation, scheme rollout.
Key Metrics & Other Details
- Company Identification Number (CIN): U74900PN2008PLC132926.
- Authorized capital & Paid-up capital: Authorized ~ ₹75.00 crore; paid-up ~ ₹34-35 crore as of recent filings.
- Address: Office at Suyog Center, Pune, Maharashtra.
GK Energy Limited Financial Information
Here’s a table summarizing key financial information for GK Energy Limited taken from their IPO / DRHP / addendum filings:
| Period Ended | 31 Mar 2025 |
| Assets | 583.62 |
| Total Income | 1,099.18 |
| Profit After Tax | 133.21 |
| EBITDA | 199.69 |
| NET Worth | 209.09 |
| Reserves and Surplus | 175.07 |
| Total Borrowing | 217.79 |
Key Performance Indicator (KPI)
Here are some of the Key Performance Indicators (KPIs) for GK Energy Limited pulled from their DRHP / IPO filings and public disclosures:
| KPI | Values |
|---|---|
| ROE | 63.71% |
| ROCE | 55.65% |
| Debt/Equity | 0.74 |
| RoNW | 63.71% |
| PAT Margin | 12.12% |
| EBITDA Margin | 18.24% |
| Price to Book Value | 12.39 |
Objects of the Issue (GK Energy Limited IPO Objectives)
Here are the Objects of the Issue (i.e. how GK Energy Limited intends to use the proceeds from its IPO), as per its DRHP / addendum filings:
Objects of the Issue of GK Energy Limited IPO
Long-term working capital requirements
- A large part of the net proceeds from the fresh issue — about ₹422.46 crore — is earmarked primarily to meet the company’s long-term working capital needs. This helps in managing cash flows, funding inventories, receivables, paying suppliers, etc.
General corporate purposes
- The remainder of the funds raised through the fresh issue will be utilized for general corporate purposes. This usually means various internal uses such as expansion, administrative expenses, strengthening balance sheet, possibly investment in plant & equipment or internal projects — but the filing does not always break down further specific items under general corporate purpose.
Pre-IPO Placement (conditional / optional)
- The DRHP also mentions a pre-IPO placement of up to ₹100 crore. If this pre-IPO placement is completed, it will reduce the amount of the fresh issue (i.e. the fresh issue size will be reduced by the amount raised in the pre-IPO placement). While the proceeds of pre-IPO placement are not strictly “object of the issue” in the sense of deployment, it is relevant to how the IPO is structured and how much net fresh funds GK Energy ends up raising.
Strengths of GK Energy Limited IPO
- Strong revenue & profit growth
- GK Energy has shown very rapid growth: revenue from operations surged ~3.8× from FY 2023 to FY 2025, and Profit After Tax (PAT) increased ~13.2× in the same period.
- High return metrics
- The company’s Return on Equity (RoE) and Return on Capital Employed (RoCE) are high—RoE ~ 63.71% and RoCE ~ 55.65% in FY 2025.
- Good order book / revenue visibility
- As of 31 March 2025, its order book for solar pump systems stood at ~ ₹714.28 crore, which provides visibility into future revenue.
- Asset-light business model
- GK Energy does not manufacture most of its major hardware; it focuses on EPC (engineering, procurement, commissioning) and leverages third-party suppliers. This allows faster scaling with lower fixed assets.
- Geographic presence & local infrastructure
- They have warehouses and workforce locally, multiple states of operation. This helps with operational reach and potentially reduces logistical bottlenecks.
Risks of GK Energy Limited IPO
- High dependence on government schemes
- Much of GK Energy’s revenue is tied to schemes like PM-KUSUM. If subsidy levels change, scheme implementation is delayed, or rules are modified, the business could be adversely impacted.
- Rising costs & margin pressure
- Although revenue has grown steeply, expenses have also increased sharply (for example, total expenses more than doubled in the 6 months ended Sept 30, 2024 vs the same period last year). This can squeeze margins and profits.
- Cash flows / working capital stress
- Even though profits are up, cash flow from operations has at times turned negative, largely due to big trade receivables, inventory buildup etc. If these are not managed well, liquidity could be impacted.
- Customer / Supplier concentration
- A few customers contribute a significant share of revenue. Also, dependence on third-party suppliers for critical components means supply chain risks (delays, price volatility) are real.
- Geographic concentration risk
- Maharashtra contributes a very large portion of their business. If operational / regulatory / political issues arise in that state, it could disproportionately hurt GK Energy.
GK Energy Limited Contact Details
Here are the contact details for GK Energy Limited as per their IPO / company disclosures:
Company Contact
- Office Address: Office No. 802, CTS No. 97-A-1/57/2, Suyog Center, Pune, Maharashtra – 411037
- Phone Number: +91 20-24268111
- Alternate Phone Number: +91 94221 86842
- Email (General / Investors): investors@gkenergy.in
- Website: www.gkenergy.in
Registrar Contact (for the IPO)
- Registrar: MUFG Intime India Pvt. Ltd. via Link Intime India Pvt. Ltd.
- Address: C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400083
- Phone: +91-22-4918 6270
- Alternate Contact: +91-810 811 4949
- Email: gkenergy.ipo@linkintime.co.in
- Registrar Website: https://linkintime.co.in/Initial_Offer/public-issues.html
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