GK Energy submitted IPO papers with SEBI for ₹500 crore via Fresh Issue

In this Book-Build IPO process up to 50% of shares will be allocated for QIBs, 15% will be allocated for HNI and 35% will be allocated for Retailers. 

As per the DRHP, this company has decided on fund deployment, ₹422.46 crore from the fresh issue will be used for long-term working capital needs, and the rest will be used for general corporate purposes.

This company is one the leading engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems. Moreover, these solar-powered agricultural water pump systems are part of Component B of the Central Government’s PM-KUSUM scheme, and also they have the aim of supporting farmers. As a part of the Jal Jeevan Mission, GK Energy assists in setting up a water storage and distribution system and also provides various EPC Services. Additionally, they supply and install solar products for government agencies and offer rooftop solar solutions. 

This company mainly focuses on designing, procuring, and installing solar-powered pump systems and it provides services to farmers who directly benefit from the systems and other customers like businesses or organizations that may need the same technology. 

This company is also involved in trading activities, selling PV cells, solar modules made by other companies, and related products. It appeared that the company’s order book was Rs 759 crore. 

Financially, GK Energy’s revenue ratio increased by 44.23% to 411.09 crore in 2024, while it was Rs 285.03 crore in 2023. The profit after tax also grew to 36 crore in 2024 in contrast to Rs 10 crore in 2023 respectively.

Indian Infoline Capital Services and HDFC Bank are the lead managers for the IPO, and the shares are planned to be listed on the Bombay Stock Exchange (BSE).

GK Energy IPO Prospectus:

GK Energy Company Financial Report

Amount ₹ in Crores

GK Energy IPO Valuation – FY2024

LG Electronics India IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Peer Group Comparison

Objects of the Issue

• Funding long term working capital requirements
• General corporate purposes

IPO Lead Managers aka Merchant Bankers

IIFl Capital Services Limited and HDFC Bank Limited