GK Energy Raises Rs 139.3 Million From Anchor Investors
POWER & RENEWABLE ENERGY

GK Energy Raises Rs 139.3 Million From Anchor Investors

GK Energy, a provider of engineering, procurement, and commissioning services for solar-powered agricultural water pumps, raised Rs 139.3 million from 12 anchor investors on 18 September, a day before its initial public offering (IPO) opened to the public.
The Rs 464.3 million IPO will open for all investors on 19 September at a price band of Rs 145–153 per share, with bidding closing on 23 September. The company plans to issue fresh shares worth Rs 400 million, while promoters will sell 4.2 million shares valued at Rs 64.26 million at the upper price band through an offer-for-sale.
In its filing to exchanges, GK Energy stated that 9.103 million shares were allocated to anchor investors at Rs 153 per share. Pinebridge Global Funds, 360 ONE MF, HSBC MF, and Prashant Jain's 3P India Equity Fund each invested Rs 22.5 million for 1.47 million shares in the anchor book. Motilal Oswal AMC, Bandhan MF, Edelweiss, Nuvama, Citigroup, and Societe Generale were among the other participants.
Of the total allocation to anchor investors, 4.271 million shares went to five domestic mutual funds, GK Energy noted.
The Pune-based company intends to use Rs 322.46 million from the fresh issue for long-term working capital requirements, with the remainder allocated to general corporate purposes. IIFL Capital Services and HDFC Bank are managing the IPO as merchant bankers.

GK Energy, a provider of engineering, procurement, and commissioning services for solar-powered agricultural water pumps, raised Rs 139.3 million from 12 anchor investors on 18 September, a day before its initial public offering (IPO) opened to the public.The Rs 464.3 million IPO will open for all investors on 19 September at a price band of Rs 145–153 per share, with bidding closing on 23 September. The company plans to issue fresh shares worth Rs 400 million, while promoters will sell 4.2 million shares valued at Rs 64.26 million at the upper price band through an offer-for-sale.In its filing to exchanges, GK Energy stated that 9.103 million shares were allocated to anchor investors at Rs 153 per share. Pinebridge Global Funds, 360 ONE MF, HSBC MF, and Prashant Jain's 3P India Equity Fund each invested Rs 22.5 million for 1.47 million shares in the anchor book. Motilal Oswal AMC, Bandhan MF, Edelweiss, Nuvama, Citigroup, and Societe Generale were among the other participants.Of the total allocation to anchor investors, 4.271 million shares went to five domestic mutual funds, GK Energy noted.The Pune-based company intends to use Rs 322.46 million from the fresh issue for long-term working capital requirements, with the remainder allocated to general corporate purposes. IIFL Capital Services and HDFC Bank are managing the IPO as merchant bankers.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code