GK Energy IPO: Check application status, allotment odds latest GMP & listing date

GK Energy is scheduled to finalize the basis of allotment of its shares on Wednesday, September 23. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on weekend or latest by Thursday, September 23. The EPC solutions player for solar pumps saw a strong response from the investors during the bidding process.

The IPO of GK Energy was open for bidding between September 19 and September 23. It had offered its shares in the price band of Rs 145-153 per share with a lot size of 98 shares. The company raised a total of Rs 464.26 crore from its IPO, which included a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 42,00,000 equity shares.

The issue was overall subscribed a solid 89.62 times, fetching more than 22.02 lakh applications and bids worth Rs 30,400 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 186.29 times. The allocation for non-institutional investors (NIIs) was booked 122.73 times. The portions for retail investors and employees were subscribed 20.79 times.  

Based on the bidding, here are the odds of allotment for GK Energy IPO:

• Big HNI category: 1 investor out of 30 investors will get 1,372 shares (Probability: 3.33 per cent)
• Small HNI category: 1 investor out of 95 investors will get 1,372 shares (Probability: 1.05 per cent)
• Retail category: 1 investor out of 19 investors will get 98 shares. (Probability: 5.26 per cent)  

The grey market premium (GMP) of GK Energy has seen a rise after a strong bidding despite volatile market sentiments. Last heard, the company was commanding a premium of Rs 31 per share in the unofficial market, suggesting a listing pop of 20 per cent for the investors. The GMP stood around Rs 22, when the issue was running for bidding.

Incorporated in 2008, Pune-based GK Energy provides engineering, procurement and commissioning (EPC) services for solar-powered agricultural water pump systems under Component B of the Central Government’s PM-KUSUM Scheme” as measured by the number of solar-powered pump systems installed under the Scheme in the period from January 1, 2022 to July 31, 2025.

IIFL Capital Services and HDFC Bank is the book running lead manager and MUFG Intime India is the registrar of the issue. Initiations of refund and credit of shares is likely to be done on Thursday, September 25. Shares of the company shall be listed at the bourses on Friday, September 26, 2025.

Investors, who had bid for the issue of GK Energy, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select GK Energy Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.