GK Energy IPO Listing: What to Expect
GK Energy shares will be listed on the BSE and NSE on Friday, September 26, after a successful initial public offering (IPO) that saw strong demand from investors. The share allotment status for the IPO was finalized on September 24, and the transfer of shares to successful bidders and refunds for non-allottees were completed on September 25.
GK Energy IPO Details
The GK Energy IPO was open for subscription from September 19 to 23 and was oversubscribed 89.62 times, with bids for 1,98,77,78,982 shares against the 2,21,80,828 shares on offer. The Qualified Institutional Buyers (QIBs) portion was subscribed 186.29 times, while the Non-Institutional Investors (NIIs) category saw 122.73 times subscription. Retail investors booked their quota 20.79 times.
Grey Market Premium (GMP)
Ahead of the listing, bidders are closely monitoring the grey market premium of the GK Energy IPO. The grey market premium (GMP) for the GK Energy IPO was Rs 18 as of 8.00 am on September 26. With a price band of Rs 153, the estimated listing price is pegged at Rs 171, factoring in the GMP. This implies an expected gain of around 11.76% per share on listing.
Use of Proceeds
GK Energy intends to use the net proceeds from its IPO primarily to support its long-term working capital requirements. Additionally, a portion of the funds has been earmarked for general corporate purposes.
Company Profile
GK Energy Ltd., incorporated in 2008, provides engineering, procurement and commissioning (EPC) services for solar-powered agricultural water pump systems under the Central Government’s PM-KUSUM Scheme. The company offers farmers a complete single-source solution covering survey, design, supply, assembly, installation, testing, commissioning, and maintenance of these systems.
Investor Guidance
Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
For more information on the GK Energy IPO, including the latest news and updates, please visit our IPO news section. You can also check our market analysis section for more insights on the Indian stock market.