GK Energy, a provider of solar-powered agricultural water pump systems, announced on Tuesday a price range of ₹145 to ₹153 per share for its upcoming initial public offering (IPO), which aims to raise ₹465 crore.
The IPO will be open for public subscription from September 19 to September 23, with a one-day bidding period for anchor investors scheduled for September 18, as per the company’s announcement.
Based in Pune, GK Energy’s offering consists of a fresh issue of shares worth ₹400 crore, along with an offer-for-sale (OFS) of 42 lakh equity shares valued at ₹65 crore at the upper price range from existing shareholders. This brings the total size of the issue to ₹465 crore.
The company will utilize ₹322.5 crore from the fresh issue to support its long-term working capital needs, with the remaining funds allocated for general corporate purposes. GK Energy holds the distinction of being India’s largest provider focused solely on engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems. It provides comprehensive solutions for farmers that encompass survey, design, supply, assembly, installation, testing, commissioning, and maintenance of solar-powered pump systems.
Regarding the allocation of the issue, 50% is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors. Investors may bid for a minimum of 98 shares, with additional bids in multiples of 98.
IIFL Capital Services and HDFC Bank are the book-running lead managers for the IPO.
Published on September 16, 2025.
