GK Energy IPO allotment today: How to check status online
What's the story
The allotment status for GK Energy's ₹464 crore IPO will be announced today. The issue, which closed on September 23, was oversubscribed by a whopping 93.5 times. Retail investors subscribed 21.78 times while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) showed even more interest with subscriptions of 193 times and 128.5 times, respectively.
Allotment verification
How to check allotment status
Investors can verify their IPO allotment status through two platforms: the registrar's website and the BSE website. To check via MUFG Intime India, one must visit https://in.mpms.mufg.com/Initial_Offer/public-issues.html and enter their PAN, DP/Client ID or application number. Alternatively, on the BSE site at https://www.bseindia.com/investors/appli_check.aspx, select Equity under issue type and GK Energy before entering application number and PAN for verification.
Post-allotment process
Refunds, demat credits, and listing dates
Refunds for investors who didn't get shares will start on September 25. Meanwhile, those whose bids were successful will have their shares credited to their demat accounts on the same day. The listing of GK Energy's shares is expected to take place on September 26 at both BSE and NSE.
Market trends
Strong gray market performance and financials
In the gray market, GK Energy shares are trading at a premium of ₹32 or 21% over the issue price of ₹153. If this trend continues, the stock could debut around ₹185, giving investors healthy listing gains. The company's financials also look strong with a revenue of ₹1,099 crore in FY25 and a net profit of ₹133 crore.
Industry impact
GK Energy's business model and empanelments under PM-KUSUM scheme
GK Energy is a leading provider of engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems under the government's PM-KUSUM scheme. The company has installed thousands of such pumps and works on an asset-light model. It is also empaneled under the PM-KUSUM scheme in several states including Maharashtra, Rajasthan, Haryana, Uttar Pradesh and Madhya Pradesh.