The initial public offering (IPO) of GK Energy and Saatvik Green Energy concluded with significant demand, particularly for GK Energy, which attracted bids nearly 90 times the shares available. In comparison, Saatvik Green Energy’s IPO was subscribed 6.57 times.
The ₹464-crore IPO of GK Energy Ltd saw remarkable interest from qualified institutional buyers (QIBs), with a subscription rate of 186.29 times, followed by non-institutional investors at 122.73 times and retail investors at 20.79 times. The IPO was priced within a band of ₹145-153.
Prior to the IPO, GK Energy secured ₹139 crore from anchor investors. The proceeds from the fresh issue, amounting to ₹322.5 crore, are earmarked for the company’s long-term working capital and general corporate purposes. The offering comprised a fresh issue of ₹400 crore alongside an offer-for-sale (OFS) totaling ₹64.26 crore.
In the case of Saatvik Green Energy, the IPO received bids for 9.38 crore shares, which exceeded the 1.427 crore shares on offer. The QIB portion was subscribed 10.84 times, the non-institutional investors by 10.04 times, and retail investors by 2.66 times.
Ahead of the IPO, Saatvik Green Energy attracted ₹269 crore from anchor investors. The IPO was initially offered within a price band of ₹442-465 and included a fresh issue of ₹700 crore and an OFS of ₹200 crore. Proceeds from the fresh issue, which amounts to ₹477.23 crore, will be utilized to establish a 4 GW solar photovoltaic module manufacturing facility at Gopalpur Industrial Park in Odisha, along with ₹166.44 crore designated for the subsidiary to address outstanding borrowings.
Published on September 23, 2025.
