By Priya Raghuvanshi

Copyright timesnownews

GK Energy’s Rs 464.26 crore initial public offering (IPO) opened for bidding on September 19 and is set to close on September 23. With an aggressive price band of Rs 145–Rs 153 per share, the IPO has already generated substantial interest among investors across categories. On the first day of bidding, the IPO was subscribed 2.69 times, receiving bids for 5.70 crore shares against the 2.12 crore on offer. Here’s the category-wise subscription status by the end of Day 1: Retail Investors: 2.83 times subscribed Non-Institutional Investors (NII): 2.74 times Qualified Institutional Buyers (QIBs): 2.40 times This strong demand across all segments reflects growing investor confidence in both the company’s fundamentals and the renewable energy sector. Grey Market Premium (GMP) Hints At Positive Listing The last recorded Grey Market Premium (GMP) for the GK Energy IPO stands at Rs 25 as of September 22, 10:33 am, according to the grey market tracking website, Investorgain. With the price band set at Rs 153, the estimated listing price is Rs 178 (calculated as the cap price plus the current GMP). This implies an expected gain of approximately 16.34 per cent per share on listing. This premium suggests bullish sentiment in the grey market, typically a good indicator of early interest and perceived value by investors ahead of the official listing. IPO Structure, Dates, and Key Details Issue Size: Rs 464.26 crore Fresh Issue: Rs 400 crore (2.61 crore shares) Offer for Sale: Rs 64.26 crore (42 lakh shares by promoters) Lot Size: 98 shares (minimum investment of Rs 14,994 at Rs 153) Allotment Date: Likely to be September 24 Listing Date: September 26 (on NSE and BSE) Book Running Lead Manager: IIFL Capital Services Ltd. Registrar: MUFG Intime India Pvt. Ltd. Proceeds from the IPO will be used to meet long-term working capital requirements (Rs 322.5 crore) and for general corporate purposes. Business Overview Founded in 2008, GK Energy Ltd. specialises in EPC services for solar-powered agricultural water pump systems, particularly under the government’s PM-KUSUM scheme. Operating under an asset-light model, the company sources equipment from vendors and sells it under its own brand. Analyst Views Brokerage houses have issued a ‘Subscribe’ rating for the IPO: Angel One highlighted the company’s healthy financials, attractive valuation (P/E of 23.3x), and strong presence in a growing sector. Geojit Investments emphasised its execution capabilities, government-backed demand, and long-term growth potential, recommending it for medium- to long-term investors. (Disclaimer: This article is meant solely for informational and educational purposes. The views and opinions expressed are those of individual analysts or brokerage firms and do not reflect the stance of Times Now. Readers are advised to consult certified financial experts before making any investment decisions.) Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world.