EPC services provider to farmers GK Energy raises Rs.100-Cr from 360 ONE, Valuequest, Kotak

IPO-bound, Pune-based EPC provider GK Energy has raised INR 100 crore from 360 ONE (formerly IIFL Wealth), Valuequest and Kotak AIF in a pre-IPO placement. The company issued 65,35,000 lakh equity shares at INR 153 per share through a private placement.ValueQuest, via Valuequest India G.I.F.T. Fund and VQ FasterCap Fund II, invested INR 35 crore and INR 30 crore respectively. 360 ONE, via 360 ONE High Growth Companies Fund and 360 ONE Equity Opportunities Fund, invested INR 15 crore and INR 10 crore, respectively. Kotak, via Kotak Iconic Fund and Kotak Iconic Fund II, invested INR 10 crore.The company is preparing for an IPO which includes a fresh issue of INR 500 crore and an offer for sale of 84,00,000 equity shares by promoters and selling shareholders.GK Energy provides engineering, procurement and commissioning services to solar-powered pump systems. It offers services to farmers to access affordable, clean irrigation energy.