GK Energy Ltd Surges on Market Debut with Solar-Powered Agriculture Solutions

GK Energy Ltd's shares debuted at a nearly 12% premium, outperforming their issue price. The company's IPO was significantly oversubscribed, raising Rs 464 crore. Proceeds will be used for working capital and corporate purposes. GK Energy specializes in solar-powered agricultural water pump systems, offering comprehensive EPC services.

GK Energy Ltd, a noteworthy player in the solar-powered agricultural sector, saw its shares listed at a substantial premium on Friday. The stock opened at Rs 165 on the BSE, marking a 7.84% increase from its issue price of Rs 153.

Meanwhile, the company made a stronger entrance on the NSE, with shares starting at Rs 171, reflecting an 11.76% premium. This impressive stock market debut was underpinned by an overwhelming 89.62 times subscription for its Rs 464 crore IPO.

Headquartered in Pune, GK Energy is recognized as India's top provider of Engineering, Procurement, and Commissioning services in solar-powered agricultural solutions. The IPO proceeds will primarily address the firm's long-term working capital needs and other corporate requirements.

(With inputs from agencies.)