Below the IPO price, anchor lock-ins for Citigroup-backed GK Energy and Saatvik Green end today

The three-month anchor lock-in period for Citigroup and Societe Generale-backed GK Energy ends today, with nearly 5 million or 2% of outstanding shares now eligible for trading, according to Nuvama estimates. Another small cap stock, Saatvik Green Energy, will also have its mandatory institutional holding period lifted, releasing 3 million shares.Both stocks have fallen sharply after hitting their respective peaks despite decent listing gains.

GK Energy shares, listed on September 26 at Rs 171 apiece (a 12% premium), have fallen below the issue price of Rs 153 and are down 37% from their peak of Rs 239 on the NSE. On Tuesday, the shares closed at Rs 151.85.

Established in 2008, GK Energy Limited provides engineering, procurement and commissioning (EPC) services for solar agricultural water pumping systems. The Pune-headquartered company has 12 warehouses across three states as of August 30, 2025.

GK Energy’s IPO worth Rs 464 crore saw overwhelming demand and was subscribed a total of 93.58 times. According to exchange data, the retail category was subscribed 21.78 times, qualified institutional buyers (QIBs) a whopping 193.01 times, and non-institutional investors (NIIs) 128.56 times.

Meanwhile, Saatvik Green Energy also listed on the same day. The shares were also flat on the NSE and the BSE. The stock is down 33% from its peak of Rs 567 and 18% lower than its issue price.

Saatvik Green Energy, founded in 2015, produces modules and offers EPC services. The company offers a comprehensive portfolio of solar panel products manufactured at two module manufacturing facilities in Ambala, Haryana. It started its manufacturing operations in 2016.

The Rs 900 crore IPO included a fresh issue of Rs 700 crore and an offer for sale (OFS) of Rs 200 crore. The IPO witnessed healthy demand across all categories, with a total subscription rate of 6.93 times. Data shows that the qualified institutional buyer (QIB) section led demand and was subscribed 11.41 times, while the non-institutional investor (NII) category saw bids 10.57 times. The portion for private investors was subscribed 2.81 times, while the employee quota was subscribed 5.59 times.

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)