GK Energy Ltd IPO
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GK Energy Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 303.44 L | ₹ 42 L | TBA | ₹ 1,648.21 L | DBC | ₹ 464.26 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 19 Sep, 25 | 23 Sep, 25 | 98 | ₹ 14,210 | Book Building | 26 Sep, 25 |
GK Energy Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Engineering - Turnkey Services |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 0 | 0 |
| NII | 0x | 0 | 0 |
| Retail | 0x | 0 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 30343791 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
GK Energy Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 48.95 | 13.96 | 2.57 |
| EBITDA | 49.62 | 14.44 | 3.04 |
| PAT | 36.09 | 10.08 | 1.56 |
| Total Assets | 193.17 | 132.99 | 63.50 |
| Share Capital | 1.30 | 1.30 | 1.00 |
| Total Borrowings | 46.58 | 32.13 | 24.14 |
| Operating Activities (Net Cash) | 36.76 | 10.56 | 2.03 |
| Investing Activities (Net Cash) | -0.02 | 0.00 | 0.00 |
| Financing Activities (Net Cash) | 46.58 | 32.13 | 24.14 |
| Net Cashflow | 9.71 | 4.17 | 3.44 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About GK Energy Ltd
Our Company was originally incorporated as GK Energy Marketers Private Limited, a private limited company under the provisions of the Companies Act, 1956 at Pune, Maharashtra, pursuant to a certificate of incorporation dated October 14, 2008, issued by the RoC. Thereafter, pursuant to a resolution passed by our Board on March 11, 2024, and by our Shareholders on June 3, 2024, the name of Company was changed from GK Energy Marketers Private Limited to GK Energy Private Limited to align the name of our Company with our business activities and the certificate of incorporation pursuant to the change of name of our Company was issued by the registrar of companies, Central Processing Centre on July 20, 2024. Our Company was subsequently converted from a private company to a public company, pursuant to a resolution passed by our Board on October 9, 2024, and by our Shareholders on October 19, 2024, consequent to which its name was changed to GK Energy Limited and a fresh certificate of incorporation consequent upon conversion to public company was issued by the RoC on December 2, 2024.
We primarily operate in the EPC of solar-powered agricultural water pump systems in India. India's 118 million farmers are heavily dependent on groundwater extraction for irrigation. As of 2022, eight million out of approximately 30 million agriculture pumps in India were diesel based and 22 million pumps relied on grid electricity. Solar-powered pump systems present a transformative solution, offering an environmentally sustainable, cost-effective and reliable alternative to traditional irrigation methods. The PM-KUSUM Scheme, launched in 2019 with an outlay of ?344 billion, aims to install 1.4 million standalone solar-powered pump systems by March 31, 2026 to aid farmers and to reduce carbon dioxide emissions. The market size of the domestic solar-powered pump systems increased at a compound annual growth rate (CAGR) of 15% from Rs.19.3 billion in Fiscal 2019 to approximately Rs.39 billion in Fiscal 2024 and is forecast to reach Rs.300-320 billion by Fiscal 2029, witnessing a significant CAGR of 52% between Fiscals 2024 and 2029. Close to 84% of the additions are expected to be under the PM-KUSUM Scheme components B and C. Component B covers and provides for the installation of stand-alone solar-powered agriculture pump systems of capacity up to 7.5 HP for replacement of existing diesel agriculture pumps / irrigation systems in off-grid areas, where grid supply is not available. Component C covers and provides for the solarisation of existing grid connected agriculture pumps of capacity up to 7.5 HP. The balance additions are expected to be driven by state government schemes.
We are primarily a pure play engineering, procurement and commissioning (EPC) provider of solar-powered agricultural water pump systems, which comprises direct-to-beneficiary sales and sales to others. Direct-to-beneficiary sales comprise (i) the EPC of GK Energy brand solar-powered pump systems to farmers who chose us as their vendor on portals of agencies appointed by state governments (known as state nodal agencies or state implementing agencies (SNAs/SIAs)) wherein the orders are placed with us by SNAs/SIAs under the Government's Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan scheme (PM-KUSUM Scheme) and similar state government schemes, and (ii) the EPC of GK Energy brand solar dual water pump systems (solar-powered pump systems that include water storage) to local government bodies. Sales to others comprise the EPC of solar-powered pump systems under orders placed by customers directly with the Company.
GK Energy Ltd IPO Key Points
Strengths
- The leading pure play provider of the EPC of solar-powered pump systems in Maharashtra under the PM-KUSUM Scheme in terms of pump systems installed as at July 31, 2025.
- Robust Order Book and a growing addressable market for solar-powered pump systems.
- Decentralised infrastructure and localised workforce enable us to operate across broad geographic areas in five states.
- Comprehensive support, from installation to after-sales service, thus ensuring a seamless experience for the farmer and increased customer satisfaction.
- Track record of profitable financial performance and rapidly increasing growth.
Risk
- We derived Rs.10,873.63 million, Rs.3,743.68 million and Rs.2,580.93 million, equivalent to 99.32%, 91.07% and 90.55% of our revenue from operations for Fiscals 2025, 2024 and 2023, respectively, from the engineering, procurement and commissioning (EPC) of solar-powered agricultural water pump systems. Any decrease in demand for the EPC of solar-powered agricultural water pump systems could have a material adverse effect on our business, financial condition, results of operations and cash flows.
- Any failure to recover trade receivables could materially and adversely affect our business, financial condition, results of operations and cash flows.
- We had net cash used in operating activities in Fiscals 2025, 2024 and 2023. We expect to experience net cash used in operating activities in the future and we will continue to require working capital financing, which if unavailable could adversely affect our ability to operate our business and implement our growth plans.
Strategy
- Replicate our success in Maharashtra in the high-potential states of Haryana, Rajasthan, Uttar Pradesh and Madhya Pradesh.
- Diversify sources of revenue by installing rooftop solar systems.
- Backward integrate by manufacturing our own solar panels.
- Development of a dedicated vendor ecosystem for various components of solar-powered pump and rooftop systems through organic and inorganic means.
- Exploring other solar market opportunities.
- The leading pure play provider of the EPC of solar-powered pump systems in Maharashtra under the PM-KUSUM Scheme in terms of pump systems installed as at July 31, 2025.
- Robust Order Book and a growing addressable market for solar-powered pump systems.
- Decentralised infrastructure and localised workforce enable us to operate across broad geographic areas in five states.
- Comprehensive support, from installation to after-sales service, thus ensuring a seamless experience for the farmer and increased customer satisfaction.
- Track record of profitable financial performance and rapidly increasing growth.
How To Apply for GK Energy Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
