Valuequest, 360 One and Kotak AIF invest in GK Energy’s pre-IPO round of Rs 100 crore

IPO-bound GK Energy has raised around Rs 100 crore from marquee investors Valuequest, 360 One (formerly IIFL Wealth), and Kotak AIF in a pre-IPO placement. The company received SEBI approval for its IPO in April this year.

In consultation with its book-running lead managers, the company issued 65.35 lakh equity shares at Rs 153 per share through a private placement. This represents 3.7% of GK Energy’s pre-offer equity share capital.

Valuequest India GIFT Fund led the round with an investment of Rs 35 crore, picking up 22.87 lakh shares. Another Valuequest vehicle, VQ FasterCap Fund II, invested Rs 30 crore for 19.60 lakh shares.

From the 360 One stable, the High Growth Companies Fund bought 9.80 lakh shares for Rs 15 crore, while the Equity Opportunities Fund – Series 4 added 6.53 lakh shares for Rs 10 crore. Kotak Iconic Fund and Kotak Iconic Fund II invested Rs 5 crore each, subscribing to 3.26 lakh shares apiece.

The IPO will comprise a fresh issue worth up to Rs 500 crore and an offer for sale of up to 84 lakh equity shares by promoter selling shareholders. Each share carries a face value of Rs 2.

About GK EnergyGK Energy is India’s largest pure-play provider of engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems. These systems, commonly known as solar-powered pump sets, form part of Component B of the PM-KUSUM scheme, a flagship programme of the central government.The company’s leading position is supported by installation data. According to CRISIL, GK Energy installed the highest number of solar-powered pumps under the PM-KUSUM scheme between January 1 and December 3.

Through its EPC model, the company offers end-to-end services including design, supply, construction, testing, and commissioning of solar pump systems. This enables farmers to access affordable and clean energy for irrigation, while supporting the government’s renewable energy goals.