GK Energy IPO GMP Today: Subscription, Allotment Date, Listing Price

GK Energy Ltd.’s IPO, which opened on September 19, has been a strong draw for investors. According to BSE data, the issue was oversubscribed 6.41 times, receiving bids for 14.22 crore shares against 2.21 crore shares on offer. Segment-wise, NIIs subscribed 10.05 times, retail investors 6.84 times, and QIBs 2.90 times.

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Company Background

The Maharashtra-based firm provides engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems. These projects fall under Component B of the government’s PM-KUSUM scheme, aimed at boosting solar energy adoption among farmers.

GMP Performance Update

With just a day left before closing, the IPO’s grey market premium (GMP) remains in focus. As of September 23 (9:00 a.m.), the GMP stood at Rs.20 per share, implying an estimated listing price of Rs.173 against the upper band of Rs.153. This translates to an expected 13.07% listing gain for investors.

GMP Trend So Far

The IPO opened with a GMP of Rs.25, which later dropped to Rs.20. The highest GMP was recorded at Rs.36, a day before the subscription began. While the premium has eased, investor sentiment remains positive due to strong demand and oversubscription.

Allotment and Listing Date

Investors eagerly await the IPO allotment status, expected later this week. Post-allotment, shares will list on both the BSE and NSE, with investors eyeing short-term gains and long-term growth prospects.

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