Three-month anchor lock-in period for Citigroup and Societe Generale-backed GK Energy ends today, with nearly 5 million or 2% of the outstanding shares now eligible for trade, according to Nuvama’s estimates. Another smallcap stock, Saatvik Green Energy, will also see its mandatory institutional holding period lifted, releasing 3 million shares.

Both stocks have declined sharply after hitting their respective peaks, despite delivering decent listing gains.

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

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

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

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

Incorporated in 2015, Saatvik Green Energy manufactures modules and offers EPC services. The company offers a comprehensive portfolio of solar module products that are manufactured in two module manufacturing facilities in Ambala, Haryana. It commenced its manufacturing operations in 2016.

The Rs 900 crore IPO comprised a fresh issue of Rs 700 crore and an offer for sale (OFS) of Rs 200 crore. The IPO witnessed healthy demand across categories, with an overall subscription of 6.93 times. Data shows that the qualified institutional buyers (QIB) portion led the demand, being subscribed 11.41 times, while the non-institutional investor (NII) category saw bids of 10.57 times. The retail investor portion was subscribed to a more moderate 2.81 times, while the employee quota was subscribed to 5.59 times.

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