Shares of GK Energy made a strong debut on the Bombay Stock Exchange (BSE) today, listing at ₹165 per share, a 7.84% premium over the issue price of ₹153. At 10:19 IST, the stock was trading higher at ₹174.25, marking a 13.89% gain. The counter has so far touched an intraday high of ₹175.95 and a low of ₹165, with more than 18.95 lakh shares changing hands.
The company’s initial public offering (IPO) had received an overwhelming response from investors, recording a subscription of 89.62 times. The issue was open between 19 and 23 September 2025, with a price band of ₹145–153 per share. The IPO comprised a fresh issue worth ₹400 crore along with an offer-for-sale (OFS) of up to 42 lakh equity shares by promoters Gopal Rajaram Kabra and Mehul Ajit Shah.
Of the proceeds from the fresh issue, ₹322.46 crore will be allocated towards long-term working capital requirements, while the remainder will go towards general corporate purposes. Ahead of its public issue, the company had already raised ₹139.27 crore from anchor investors on 18 September by allotting 98.03 lakh shares at ₹153 apiece to 13 institutional investors.
Promoted by Kabra and Shah, GK Energy is positioned as India’s largest pure-play EPC (engineering, procurement, and construction) provider of solar-powered agricultural pump systems under the government’s PM-KUSUM scheme (Component B). By December 2024, the company had completed more than 62,500 installations. Its portfolio also includes EPC work for water storage and distribution projects, rooftop solar systems, and other renewable energy solutions for government agencies.
The firm follows an asset-light business model, sourcing components under its own brand, and has plans for backward integration with a proposed 1 GW solar module manufacturing facility in Maharashtra. It is empanelled with the Ministry of New and Renewable Energy across several states, with strong operations in Maharashtra, Haryana, Rajasthan, and Uttar Pradesh.
For the financial year ending March 2025, GK Energy reported a net profit of ₹133.21 crore on a total income of ₹1,094.83 crore.