GK Energy, a company specializing in solar-powered water pump systems for farmers, had a notable stock market debut on September 26. The shares were listed at 171 rupees on the National Stock Exchange, marking an increase of 11.76 percent from the IPO price of 153 rupees. On the Bombay Stock Exchange, the shares opened at 165.20 rupees, reflecting a gain of 7.97 percent, before slightly declining to 169.70 rupees later in the day. The company’s market capitalization now stands at 3442.62 crore rupees. Retail investors who acquired shares during the IPO earned a profit of 16,758 rupees per lot, with each lot consisting of 98 shares. The IPO was met with significant enthusiasm, achieving a total subscription of 89.62 times.
Qualified Institutional Buyers subscribed 186.29 times, high net-worth individuals subscribed 122.73 times, and retail investors subscribed 20.79 times. The IPO raised a total of 464.26 crore rupees, with 400 crore rupees generated from new shares and 64.26 crore rupees from promoters selling their shares. The funds will be allocated for working capital and other business requirements.