GK Energy IPO Day 1 LIVE Updates: The initial public offering (IPO) for GK Energy, which specializes in solar-powered agricultural water pump systems, is set to take place from September 19 to 23. GK Energy IPO price band has been established at ₹145-153 per share.
GK Energy IPO GMP today is ₹36. This indicates Ivalue Infosolutions share price were trading at a premium of ₹36 in the grey market on Friday, according to investorgain.com.
The offering from the Pune-based company comprises a fresh issuance of shares valued at ₹400 crore, along with an offer-for-sale (OFS) of 42 lakh equity shares, which amounts to ₹65 crore at the higher end, from selling shareholders.
The proceeds from the fresh issue, amounting to ₹322.5 crore, will be directed towards supporting the company’s long-term working capital needs, with the remainder allocated for general corporate uses.
As India’s leading provider of engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems, the company delivers a comprehensive, single-source solution for farmers that covers survey, design, supply, assembly, installation, testing, commissioning, and maintenance of solar pump systems.
IIFL Capital Services and HDFC Bank are acting as the book-running lead managers for this offering.
(Stay tuned for more updates)
