GK Energy IPO Set to Open on September 19, Aims to Raise Rs 464.26 Crore
GK Energy Ltd., a solar-powered agricultural pump systems provider, is launching its IPO from September 19-23. The company aims to raise Rs 464.26 crore, with a fresh issue of Rs 400 crore and an OFS of Rs 64.26 crore. The price band is set at Rs 145-153 per share. Listing is scheduled for September 26 on NSE and BSE. The grey market shows a premium of Rs 45 per share. The minimum lot size is 98 shares, requiring a minimum investment of Rs 14,994. GK Energy reported a total income of Rs 412.31 crore and a PAT of Rs 36.09 crore in the last fiscal year. The IPO proceeds will primarily be used for working capital requirements.
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GK Energy Ltd., a provider of solar-powered agricultural pump systems, is gearing up for its Initial Public Offering (IPO) set to open on September 19. The company has set the price band for its shares at Rs 145-153, with ambitions to raise Rs 464.26 crore from the market.
IPO Details
The IPO comprises a fresh issue of equity shares worth Rs 400.00 crore and an offer-for-sale (OFS) component of Rs 64.26 crore. Investors will have the opportunity to participate in the IPO until September 23, with the listing scheduled for September 26 on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Grey Market Premium
The grey market is showing a positive sentiment towards the GK Energy IPO, with a premium of Rs 45 per share. This indicates an estimated listing price of Rs 198, suggesting potential upside for investors if the trend holds.
Investment Information
For retail investors interested in participating:
| Particulars | Details |
|---|---|
| Minimum Lot Size | 98 |
| Minimum Investment | 14,994 |
Company Overview
GK Energy Ltd. specializes in providing solar-powered agricultural pump systems under the PM-KUSUM Scheme, a government initiative aimed at promoting solar energy in the agricultural sector.
Financial Performance
The company has demonstrated strong financial growth:
| Metric | FY (Year not specified) | Previous Year |
|---|---|---|
| Total Income | 412.31 | Not specified |
| Profit After Tax | 36.09 | 10.08 |
Use of Proceeds
GK Energy plans to utilize the IPO proceeds as follows:
- Working capital requirements: Rs 322.46 crore
- General corporate purposes: Remaining amount
The IPO presents an opportunity for investors to participate in the growing renewable energy sector, particularly in agricultural applications. As always, potential investors should carefully review the offer document and consider their financial objectives before making an investment decision.
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