The GK Energy IPO allotment, which determines the allocation of shares, will conclude today. Valued at Rs 464.26 crore, the IPO has garnered significant interest from investors, receiving an overwhelming response. For every share on offer, there were 93 applicants. Retail investors applied 21 times more than the available shares, Qualified Institutional Buyers (QIB) applied 193 times, and Non-Institutional Investors (NII) applied 128 times. The Grey Market Premium (GMP), indicating the additional price at which shares are being traded outside the stock exchange, experienced fluctuations. Initially, it was 30% higher, later decreasing to 14-16%, but is now rising again just before the listing. Analysts believe GK Energy represents a solid long-term investment opportunity.
The company is a leader in solar pump projects under the PM-KUSUM initiative and is broadening its scope into rooftop solar and water projects, benefiting from government support in states like Maharashtra, Rajasthan, Haryana, Uttar Pradesh, and Madhya Pradesh.