GK Energy IPO subscribed 90x; Saatvik Green 6.57 times

Saatvik Green Energy IPO received bids for 9.38 crore shares against 1.427 crore shares on offer

The initial public offering of GK Energy and Saatvik Green Energy were ended on strong note, especially the former attracting bids for nearly 90 times. Saatvik Green IPO was subscribed 6.57 times.

The ₹464-crore IPO of GK Energy was backed heavily by QIBs (186.29 times subscription) followed by non-institutional investors (122.73 times) and retail Investors (20.79 times). The IPO came out with a price band of ₹145-153.

GK Energy had rasied ₹139 crore from anchor investors, ahead of the issue. Proceeds from the fresh issue to the extent of ₹322.5 crore will be utilised for funding the company’s long-term working capital requirements and the balance for general corporate purposes.

The Pune-based firm’s IPO was a combination of fresh issue worth ₹400 crore and an offer-for-sale (OFS) worth ₹64.26 crore.

Saatvik Green Energy IPO received bids for 9.38 crore shares against 1.427 crore shares on offer. QIB portion was subscribed 10.84 times, NIIs by 10.04 times and retail investors by 2.66 times.

Ahead of the IPO, Saatvik Green Energy mobilised ₹269 crore from anchor investors. The IPO hit the market with a price band of ₹442-465. The IPO consisted of a fresh issue (₹700 crore) and OFS (₹200 crore).

Proceeds from the fresh issue worth ₹477.23 crore will be invested in Saatvik Solar Industries Private Ltd for setting up a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park in Odisha, and ₹166.44 crore will be infused into the subsidiary for repayment or prepayment of its outstanding borrowings.

Published on September 23, 2025