SAATVIK GREEN ENERGY LIMITED

19 Sep 2025 - 23 Sep 2025 Individual Category Main Board BSE NSE

Min Investment

₹14880

Price Band

₹442-₹465

Issue Size

142.72 lakhs
Equity Shares

Lot Size

32 (per lot)

IPO Dates
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19 Sep 2025

Open Date

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23 Sep 2025

Close Date

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24 Sep 2025

Allotment Date

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26 Sep 2025

Listing Date

Saatvik Green Energy IPO will open for bidding on September 19, 2025, and close on September 23, 2025. The basis of allotment is likely to be finalised on September 24, 2025, while the shares are listing on both BSE and NSE on September 26, 2025.The company is launching a book-built IPO of worth up to Rs 900 crore. The public issue comprises a fresh equity issue of 1.51 crore shares valued at Rs 700 crore and an offer for sale of 0.43 crore shares worth Rs 200 crore. The price band has been fixed between Rs 442 and Rs 465 per share, with a lot size of 32 shares. For retail investors, the minimum application size is Rs 14,880 at the upper price band. For non-institutional investors, the requirement is 14 lots (448 shares) totalling Rs 2,08,320 under the sNII category, and 68 lots (2,176 shares) amounting to Rs 10,11,840 under the bNII category. The book-running lead manager for this IPO is Dam Capital Advisors Ltd, Ambit Private Ltd, Motilal Oswal Investment Advisors Ltd, while Kfin Technologies Ltd. will serve as the registrar.

Know Before Investing

Strengths icon

  • High-capacity manufacturing with strong utilisation.
  • Advanced solar tech with diverse products.
  • Solid order book and strong financials.

Weaknesses icon

  • Heavy reliance on imports.
  • Low export contribution.
  • Expansion and debt add execution risk.

About Saatvik Green Energy Limited

Saatvik Green Energy Limited is established in 2015, engaged in the manufacturing of solar modules and also provides engineering, procurement, and construction (EPC) services. The company offers a diverse range of solar module products designed with advanced technologies aimed at minimising energy losses and improving efficiency. Commercial operations began in 2016 with an initial installed capacity of 125 MW. Over the years, Saatvik has scaled up significantly, reaching an annual installed capacity of nearly 3.80 GW as of June 30, 2025. This growth highlights the company’s strong focus on expanding its presence in the renewable energy sector. Saatvik operates two large-scale manufacturing units located in Ambala, Haryana, collectively referred to as the Ambala Facilities. These facilities cover a total land area of approximately 724,225 square feet and are equipped to support large-scale production. The company manufactures Monocrystalline PERC (passive emitter and rear cell) modules as well as N-TopCon solar modules. Both product categories are available in mono-facial and bifacial variants, making them suitable for residential, commercial, and utility-scale solar power projects. Saatvik has also expanded its workforce alongside its operations. The company employed 138 people in March 2023, 270 in March 2024, 566 in March 2025, and 618 as of June 30, 2025, reflecting its continuous growth and operational scale-up.

Founded

2015

Managing Director

Parent Organization

IPO Objectives

Saatvik Green Energy IPO proposes to utilise the Net Proceeds from the Issue towards the prepayment or repayment of certain outstanding borrowings, investment in its wholly owned subsidiary Saatvik Solar Industries Private Limited for repayment or prepayment of borrowings, investment in the subsidiary for setting up a 4 GW solar PV module manufacturing facility at Gopalpur, Odisha, and for general corporate purposes.

Company Promoters

Neelesh Garg

Manik Garg

Manavika Garg

SPG Trust

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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