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India IPO Rush Nears Close: GK Energy Draws Heavy Bids as Saatvik Green Tops Subscription

Allotments arrive on Sept. 24 with grey‑market signals pointing to modest listing gains for most issues.

Overview

  • GK Energy was subscribed 7.83 times as of Tuesday morning, led by NIIs at 14.51 times and retail at 7.75 times, with a GMP of about Rs 20 implying roughly a 13% premium to the Rs 153 upper band.
  • Saatvik Green moved from a slow start to fully booked by Day 2 and reached about 1.22 times on the final day, though QIB interest remained thin near 0.02 times and the GMP eased to around Rs 9, or about 2% over the Rs 465 cap; proceeds target a 4 GW Gopalpur module plant and debt reduction.
  • Atlanta Electricals was fully subscribed on Day 2 at 1.46 times overall with stronger NII and retail demand, while recent GMP readings near Rs 95–110 suggest potential low‑teens listing gains.
  • Ganesh Consumer’s opening day showed muted take‑up at 0.12 times and a GMP near Rs 10 that points to only small prospective upside.
  • Share allotments for GK Energy and Saatvik Green are slated for Sept. 24 with tentative listings on Sept. 26, capping a crowded slate of mainboard and SME IPOs that sought more than Rs 6,300 crore this week.