GK Energy Shares Surge 12% in Market Debut Amid Strong Investor Demand
GK Energy Ltd, a solar-powered agricultural water pump systems provider, made a robust market debut with shares jumping nearly 12% above its issue price of ₹153. The stock opened at ₹165 on the BSE and ₹171 on the NSE, reflecting strong investor appetite for renewable energy plays. The company's market valuation now stands at ₹3,448.91 crore.
The IPO, which closed with an oversubscription of 89.62 times, raised ₹464 crore through a combination of fresh issuance and an offer for sale. Proceeds will primarily fund working capital needs as the Pune-based firm expands its position as India's leading EPC provider for solar-powered irrigation systems.