GK Energy IPO Oversubscribed 89.62 Times, Allotment Status Expected Today
GK Energy's IPO has been oversubscribed 89.62 times, receiving bids for 1,98,77,78,982 shares against 2,21,80,828 shares offered. QIBs led with 186.29 times subscription, followed by NIIs at 122.73 times and retail investors at 20.79 times. The IPO aims to raise Rs 464.26 crore with a price band of Rs 145-153 per share. Allotment is expected on September 24, with listing planned for September 26 on BSE and NSE. The Grey Market Premium indicates a potential listing price of Rs 184.00.
*this image is generated using AI for illustrative purposes only.
GK Energy's Initial Public Offering (IPO) has witnessed a robust response from investors, with the issue being oversubscribed 89.62 times. The company, which specializes in EPC services for solar-powered agricultural water pump systems, saw significant interest across various investor categories.
Subscription Details
The IPO received bids for 1,98,77,78,982 shares against the 2,21,80,828 shares on offer, showcasing strong demand. Here's a breakdown of the subscription rates across different investor categories:
| Investor Category | Subscription Rate |
|---|---|
| Qualified Institutional Buyers (QIBs) | 186.29 |
| Non-Institutional Investors (NIIs) | 122.73 |
| Retail Investors | 20.79 |
IPO Specifics
- Price Band: Rs 145-153 per share
- Total Fundraise: Rs 464.26 crore
- Fresh Issue: Rs 400.00 crore
- Offer-for-Sale: Rs 64.26 crore
Key Dates
- Allotment Status: Expected to be finalized on September 24
- Refund Processing: Scheduled for September 25
- Listing Date: Tentatively set for September 26 on both BSE and NSE
Use of Proceeds
GK Energy plans to utilize the funds raised from the fresh issue for working capital requirements and general corporate purposes.
Grey Market Premium
The Grey Market Premium for GK Energy stands at Rs 31.00 per share, indicating a potential listing price of Rs 184.00. However, it's important to note that grey market premiums are unofficial and subject to change.
About GK Energy
GK Energy provides Engineering, Procurement, and Construction (EPC) services specifically for solar-powered agricultural water pump systems. The successful IPO is expected to strengthen the company's position in the renewable energy sector, particularly in agricultural applications.
Investors who have applied for shares in the IPO are advised to check their allotment status on September 24. Those who do not receive an allotment can expect refunds to be processed on September 25.
The strong oversubscription across all investor categories suggests significant interest in GK Energy's business model and growth prospects. However, as with all investments, potential investors should conduct their own research and consider their risk appetite before making investment decisions.
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