Today marks the end of the three‑month lock‑in for two newly listed small‑cap stocks, GK Energy and Saatvik Green Energy, freeing about 5 million shares for the market.
GK Energy, backed by Citigroup and Societe Generale, had about 5 million shares (roughly 2% of its total) locked until today. The stock opened at Rs 171 on its debut on September 26, a 12% premium to the issue price. Since then it fell below the issue price of Rs 153 and is now trading around Rs 151.85, down 37% from its high of Rs 239.
Founded in 2008, GK Energy builds solar‑powered water‑pump systems for farms. It operates 12 warehouses across three Indian states. The company raised Rs 464 crore in its IPO, which was subscribed 93.58 times overall – retail investors 21.78 times, qualified institutional buyers 193.01 times, and non‑institutional investors 128.56 times.
Saatvik Green Energy also saw its lock‑in end, releasing about 3 million shares. The stock listed flat on both the NSE and BSE, but is now down 33% from its peak of Rs 567 and 18% below the issue price.
Established in 2015, the company makes solar modules and provides EPC services. It runs two manufacturing plants in Ambala, Haryana, and started production in 2016. Its Rs 900 crore IPO included a fresh issue of Rs 700 crore and an offer‑for‑sale of Rs 200 crore. Overall subscription was 6.93 times, with qualified institutional buyers leading at 11.41 times.
Remember, this is just an overview, not a recommendation. Do your own research and consider your risk tolerance before investing.
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