Overview

• GK Energy closed with 89.62 times overall subscription, including 186.29 times from QIBs and 20.79 times from retail, with allotment expected today and a tentative September 26 listing.
• Saatvik Green Energy was subscribed 6.57 times at close, has allotment slated for today with refunds on September 25, and is tentatively set to list on September 26.
• Solarworld Energy Solutions opened a Rs 490 crore issue at Rs 333–351, was fully subscribed on Day 1 at 1.23 times, and targets allotment on September 26 and listing on September 30.
• Unofficial grey‑market premiums as of this morning indicate GK Energy at about Rs 31 (~20% over the upper band), Solarworld at about Rs 65 (~18.5%), and Saatvik at about Rs 13 (~2.8%), which are speculative indicators rather than official data.
• Use of proceeds includes Solarworld allocating roughly Rs 420 crore to a 1.2 GW TopCon facility via its subsidiary, GK Energy funding working capital, and Saatvik reducing debt and investing in its subsidiary, with analysts flagging Solarworld’s revenue concentration risk to SJVN Green Energy.