Three major IPOs are hitting Dalal Street this week—Saatvik Green Energy, GK Energy, and Jinkushal Industries—aiming to raise a combined ₹1,480 crore. These issues are spread across renewable energy, agriculture-focused solar solutions, and construction equipment exports, highlighting India’s diversified growth story.
Saatvik Green Energy IPO
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Issue Size: ₹900 crore (Fresh issue ₹700 cr + OFS ₹200 cr)
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Price Band: ₹442–₹465 per share
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Dates: September 19 – September 23, 2025
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Utilisation: Debt repayment, subsidiary investment, and a 4 GW solar PV module facility in Odisha
Research Insight:
Saatvik is one of India’s fastest-growing solar module companies. With government focus on renewable energy and solar adoption under schemes like PM Surya Ghar Yojana, demand is expected to rise. However, valuations appear on the higher side, and competition from global players could pressure margins.
GK Energy IPO
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Issue Size: ₹464.26 crore (Fresh issue ₹400 cr + OFS ₹64.26 cr)
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Price Band: ₹145–₹153 per share
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Dates: September 19 – September 23, 2025
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Utilisation: Long-term working capital, vendor and supplier payments
Research Insight:
GK Energy focuses on solar-powered agricultural water pumps, aligning with India’s green agriculture push. The rural market offers massive opportunities, but execution risks and dependency on government subsidies should be considered.
Jinkushal Industries IPO
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Issue Size: ₹116.11 crore
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Price Band: ₹115–₹121 per share
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Dates: September 25 – September 29, 2025
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Utilisation: Long-term working capital
Research Insight:
Jinkushal specializes in exporting refurbished and customized construction machinery. This niche market offers steady demand in developing countries, but forex volatility and global trade cycles could impact growth.
Should You Apply?
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Saatvik Green Energy: Subscribe with a long-term view (renewable energy growth + expansion plans).
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GK Energy: Suitable for aggressive investors looking at agri-tech & rural demand.
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Jinkushal Industries: Riskier bet, fits investors seeking diversification into export-focused businesses.
📌 Conclusion: Renewable and solar-focused IPOs (Saatvik & GK) look stronger compared to Jinkushal. Investors with a moderate to high-risk appetite may consider subscribing, keeping valuation and sector risks in mind.
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