India’s two major solar sector companies, Satwik Green Energy and GK Energy, have come to the market with their initial public issue (IPO). The IPOs of both companies have opened on Friday, 19 September and investors can apply to them by Tuesday, 23 September. These IPOS are getting good premium in the gray market, which is a sign of their strong demand among investors.
Satvik Green Energy: Big player of solar module
The goal of Satvik Green Energy at Gurugram is to raise ₹ 900 crore from this IPO. This IPO is a mixture of ₹ 700 crore new shares as well as an offer-for-sale (offs) of ₹ 200 crore.
Price Band and Lot Size: The company has fixed a price band of ₹ 442 to ₹ 465 per share. One lot will have 32 shares, which means the minimum investment will be ₹ 14,880.
Listing: The allocation of shares is expected on September 24, and the listing will be on NSE and BSE on 26 September.
Gray Market Premium (GMP): According to market experts, Satvik Green’s Gray Market Premium (Gmp) is running above 15% from its issue price.
About the company: Satvik Green Energy manufactures solar PV modules and provides Engineering, Procurement and Construction (EPC) services. The company started in 2016 with a capacity of 125 MW, which has increased to 3.8 GW by June 2025. It forms advanced modules such as mono perc and N-Topcon, which are used in residential and large solar projects.
GK Energy: Lead in Solar Pump
GK Energy has planned to raise ₹ 464.26 crore through its IPO. This is a book-built issue, which includes new shares of ₹ 400 crore and O ₹ 64.26 crore O.S.
Price Band and Lot Size: The company’s price band has been fixed at ₹ 145 to ₹ 153 per share. Retail investors will have to bid for at least 98 shares, for which the minimum investment will be ₹ 14,994.
Listing: GK Energy shares will also list on NSE and BSE on 26 September.
Gray Market Premium (GMP): The gray market premium (GMP) of this IPO is currently running 26%, which reflects its strong demand.
About the company: GK Energy is mainly specialized in creating solar -powered agricultural water pump systems. It is one of the largest companies working under the PM-Kusum scheme of the Government of India. Between January 2022 to July 2025, the company has installed 62,559 pumps in five major states and has a market share of 7.37% in these states.
What is a chance for investors?
Both companies work in India’s rapidly growing renewable energy sector. The region is continuously expanding due to government policies and challenges of global climate change. The premium found in the gray market shows the confidence of investors on the strong performance of these companies and future prospects.
However, before investing in any IPO, it is important to do a thorough analysis of the company’s financial statements, management team and market risks. This IPO can be an attractive opportunity for investors who want to be a part of development in the solar energy sector of India.
