GK Energy Ltd Shares Surge as IPO Gains Broad Acceptance
GK Energy Ltd's IPO shares saw a strong debut, ending nearly 10% above the issue price. The company's Rs 464 crore IPO was oversubscribed 89.62 times. Proceeds will fund working capital and corporate requirements. Offering a comprehensive solution, GK Energy is a leading EPC service provider for solar-powered agricultural pumps.
- Country:
- India
Shares of GK Energy Ltd, a leading provider of solar-powered agricultural water pump systems, ended the trading day with an impressive premium of nearly 10 percent against its issue price of Rs 153.
The stock began trading at Rs 165 on the BSE, a 7.84 percent rise from its issue price, eventually surging to Rs 175.95 during the day before closing at Rs 167.75.
On the NSE, shares debuted at Rs 171, an 11.76 percent increase, and concluded at Rs 167.74. The company's recent IPO, which received overwhelming demand with 89.62 times subscription, aims to support its long-term capital requirements.
- READ MORE ON:
- GK Energy
- IPO
- debut
- premium
- solar-powered
- pump systems
- BSE
- NSE
- engineering
- agriculture
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