GK Energy IPO Last Day: Today is the last day of subscription to GK Energy IPO. Retail, NII and QIB investors participated extensively in this issue of ₹ 400 crore. Its listing is likely to be on NSE and BSE on 26 September.
Gk energy IPO gmp: Today, Tuesday is the last day of subscription for GK Energy Limited IPO. Investors have the last chance to take part in this ₹ 400 crore issue. The IPO was opened on Friday, September 19 and now the last day’s booking is going on. Know gray market status and full details …
GK Energy IPO overview
Issu Size: ₹ 400 Crore
Face Value: ₹ 2 per share
Price Band: ₹ 153
number of shares: Fresh Issue 2.61 Crore + ofS 42 Lakh (Total ₹ 64.26 Crore)
Subscription: Retail 7.93 times, NII 15.51 times, QIB 2.92 times
Minimum Retail Application: 98 shares (about ₹ 14,994)
What does GK Energy Ltd do?
GK Energy provides solar-pumping systems for the agricultural sector. The company provides EPC services to farmers under the PM-Kusum scheme, including survey, design, installation, commissioning and maintenance.
GK Energy IPO’s Financial and Market Position
In FY24, the company showed strong revenue and profit growth. Brokerage firm Angel One advised to subscribe to it, as the Indian solar pump sector is growing rapidly due to government schemes. Post IPO P/E 23.3 times the IPO’s top price ₹ 153, which is considered to be attractive compared to industry peers. According to Geojit Investments, FY25 is in the company’s P/E Fair value and a strong order book, government demand makes it growth productive for long term.
GK Energy IPO GMP and Listing
GK Energy is showing a strong signal of ₹ 20 in the IPO gray market premium. Its estimated listing price is ₹ 173 i.e. about 13.07% premium. The basis of allotment is 24 September. At the same time, the listing date on NSE and BSE is 26 September.
Where will the amount raised from IPO be used?
₹ 322.5 crore: Long-term working capital
Rest of the money: For general corporate purposes
Book Running Lead Manager: Iifl Capital Services Limited
Registrar: Mufg Intime India Pvt. Ltd.
Disclaimer: The information given in this article is only for general information. It should not be taken as investment advice. Investing in IPO, stocks, bonds, commodity or other financial products comes with risk. Before investment, consult your financial advisor.
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