GK Energy's Rs 465-cr IPO opens on Sep 19
Gopal Kabra- Chairman, Managing Director & Chief Executive Officer, GK Energy Limited, outlined the company’s strategic growth roadmap at the Mumbai IPO press conference in Mumbai recently |
Solar-powered agricultural water pump systems provider GK Energy on Thursday opened its ₹465-crore initial public offering (IPO) for public subscription. The issue will remain open till September 23, with the anchor investor portion having closed on September 18.
The Pune-based company has fixed a price band of ₹145–153 per share. The offering comprises a fresh issue of shares worth ₹400 crore and an offer-for-sale (OFS) of 42 lakh equity shares valued at ₹65 crore at the upper end.
Of the net proceeds from the fresh issue, about ₹322.5 crore will go towards funding long-term working capital needs, with the rest earmarked for general corporate purposes.
GK Energy is India’s largest pure-play provider of engineering, procurement and commissioning (EPC) services for solar-powered agricultural water pump systems, offering farmers an end-to-end solution from survey and design to installation and maintenance.
In terms of allocation, 50% of the IPO is reserved for QIBs, 35% for retail investors, and 15% for non-institutional investors. Bids can be made for a minimum of 98 shares and in multiples thereafter.
IIFL Capital Services and HDFC Bank are the book-running lead managers to the issue.
RECENT STORIES
-
-
-
-
-