Bookbuilding IPO | ₹900 Cr | Listed at BSE, NSE | Fri, Sep 19, 2025 - Tue, Sep 23, 2025
Saatvik Green Energy IPO is a book build issue of ₹900.20 crores. The issue is a combination of fresh issue of 1.51 crore shares aggregating to ₹700.20 crores and offer for sale of 0.43 crore shares aggregating to ₹200.00 crores.
Saatvik Green Energy IPO bidding started from Sep 19, 2025 and ended on Sep 23, 2025. The allotment for Saatvik Green Energy IPO was finalized on Sep 24, 2025. The shares got listed on BSE, NSE on Sep 26, 2025.
Saatvik Green Energy IPO price band is set at ₹465 per share. The lot size for an application is 32. The minimum amount of investment required by an retail is ₹14,880 (32 shares) (based on upper price). The lot size investment for sNII is 14 lots (448 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (2,176 shares), amounting to ₹10,11,840.
The issue includes a reservation of up to 47,505 shares for employees offered at a discount of ₹44.00 to the issue price.
Dam Capital Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Saatvik Green Energy IPO RHP for detailed Information.
IPO Open
Fri, Sep 19, 2025
IPO Close
Tue, Sep 23, 2025
Issue Price
₹465 per share
Market Cap (Pre-IPO)
₹5,910.19 Cr
| IPO Date | 19 to 23 Sep, 2025 |
| Listed on | Fri, Sep 26, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹442 to ₹465 |
| Issue Price | ₹465 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹44.00 |
| Total Issue Size | 1,93,59,079 shares (agg. up to ₹900 Cr) |
| Fresh Issue | 1,50,58,004 shares (agg. up to ₹700 Cr) |
| Offer for Sale | 43,01,075 shares of ₹2 (agg. up to ₹200 Cr) |
| Share Holding Pre Issue | 11,20,47,000 shares |
| Share Holding Post Issue | 12,71,05,004 shares |
| BSE Script Code / NSE Symbol | 544526 / SAATVIKGL |
| ISIN | INE13B501022 |
Saatvik Green Energy IPO offers total 1,93,59,332 shares. Out of which 96,55,912 (49.88%) allocated to QIB, 38,62,365 (19.95%) allocated to QIB (Ex- Anchor), 28,96,775 (14.96%) allocated to NII 67,59,140 (34.91%) allocated to RII and 57,93,547 (29.93%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 96,55,912 (49.88%) | NA |
| − Anchor Investor Shares Offered | 57,93,547 (29.93%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 38,62,365 (19.95%) | NA |
| NII (HNI) Shares Offered | 28,96,775 (14.96%) | NA |
| − bNII > ₹10L | 19,31,183 (9.98%) | 4,310 |
| − sNII < ₹10L | 9,65,592 (4.99%) | 2,155 |
| Retail Shares Offered | 67,59,140 (34.91%) | 2,11,223 |
| Employee Shares Offered | 47,505 (0.25%) | NA |
| Total Shares Offered | 1,93,59,332 (100.00%) |
Investors can bid for a minimum of 32 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,880 |
| Retail (Max) | 13 | 416 | ₹1,93,440 |
| S-HNI (Min) | 14 | 448 | ₹2,08,320 |
| S-HNI (Max) | 67 | 2,144 | ₹9,96,960 |
| B-HNI (Min) | 68 | 2,176 | ₹10,11,840 |
Saatvik Green Energy IPO raises ₹269.40 crore from anchor investors. Saatvik Green Energy IPO Anchor bid date is September 18, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Sep 18, 2025 |
| Shares Offered | 57,93,547 |
| Anchor Portion (₹ Cr.) | 269.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Oct 23, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Dec 22, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2015, Saatvik Green Energy Limited is the manufacturer of modules and offers engineering, procurement and construction (“EPC”).
The company offer a comprehensive portfolio of solar module products that are currently manufactured using technologies that help reduce energy loss and enhance overall efficiency..
The company commenced their manufacturing operations in 2016 and have over the years expanded the annual installed capacity, from 125 MW as of March 31, 2017 to about 3.80 GW as of June 30, 2025.
The company operates two module manufacturing facilities in Ambala, Haryana (together, the “Ambala Facilities”) spread across a total land area of 724,225 square feet.
Products:
As of June 30, 2025, March 31, 2025, March 31, 2024 and March 31, 2023, the company had 618, 566, 270 and 138 full-time employees.
Competitive Strengths:
Saatvik Green Energy Ltd.'s revenue increased by 100% and profit after tax (PAT) rose by 113% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 1,635.74 | 688.04 | 263.00 |
| Total Income | 2,192.47 | 1,097.18 | 617.63 |
| Profit After Tax | 213.93 | 100.47 | 4.75 |
| EBITDA | 353.93 | 156.84 | 23.87 |
| NET Worth | 337.66 | 120.67 | 20.27 |
| Reserves and Surplus | 315.25 | 117.36 | 16.89 |
| Total Borrowing | 458.10 | 263.42 | 144.49 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company | 10.82 |
| 2 | Investment in the wholly owned Subsidiary, Saatvik Solar Industries Private Limited, in the form of debt or equity for repayment/prepayment of borrowings, in full or in part, of all or a portion of certain outstanding borrowings availed by such Subsidiary | 166.44 |
| 3 | Investment in the wholly owned Subsidiary, Saatvik Solar Industries Private Limited, for setting up of a 4 GW solar PV module manufacturing facility at National Highway – 16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam – 761 020, Odisha. (“Project Site”) | 477.23 |
| 4 | General corporate purposes | 3.04 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 63.41% |
| ROCE | 60.45% |
| Debt/Equity | 1.36 |
| RoNW | 63.41% |
| PAT Margin | 9.76% |
| EBITDA Margin | 16.40% |
| Price to Book Value | 43.18 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 19.09 | 16.83 |
| P/E (x) | 24.35 | 27.63 |
| Promoter Holding | 90.05% | 75.99% |
| Market Cap | ₹5,910.19 Cr. |
The Saatvik Green Energy IPO is subscribed 6.93 times on September 23, 2025 5:04:38 PM (Day 3). The public issue subscribed 2.81 times in the retail category, 11.41 times in the QIB category, and 10.57 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 11.41 | 38,60,119 | 4,40,28,000 |
| NII | 10.57 | 28,96,100 | 3,06,02,304 |
| bNII (bids above ₹10L) | 11.28 | 19,30,733 | 2,17,86,144 |
| sNII (bids below ₹10L) | 9.13 | 9,65,367 | 88,16,160 |
| Retail | 2.81 | 67,57,566 | 1,90,21,856 |
| Employee | 5.59 | 47,506 | 2,65,632 |
| Total | 6.93 | 1,35,61,291 | 9,39,17,792 |
Total Application : 5,26,484
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers and commissions (including underwriting commission, brokerage and selling commission) | 27.00 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids (other than Bids submitted by UPI Bidders) procured by the members of the Syndicate, the Registered Brokers, RTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Banks for Bids made by RIBs | 2.02 |
| 3 | Fees payable to Registrar to the Offer | 0.04 |
| 4 | Printing and stationery expenses | 2.00 |
| 5 | Advertising and marketing expenses | 4.50 |
| 6 | Listing fees, SEBI fees, BSE and NSE processing fees, book-building software fees, and other regulatory expenses | 4.11 |
| 7 | Fees payable to the other parties to the Offer, including, Statutory Auditors, Independent Chartered Accountant, practicing company secretary, industry expert and legal counsels | 13.32 |
| 8 | Miscellaneous | 1.71 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹465.00 | ₹465.00 |
| Open | ₹460.00 | ₹465.00 |
| Low | ₹427.10 | ₹427.30 |
| High | ₹464.35 | ₹465.00 |
| Last Trade | ₹439.70 | ₹440.70 |
Saatvik Green Energy IPO is a main-board IPO of 1,93,59,079 equity shares of the face value of ₹2 aggregating up to ₹900 Crores. The issue is priced at ₹465 per share. The minimum order quantity is 32.
The IPO opens on Fri, Sep 19, 2025, and closes on Tue, Sep 23, 2025.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Saatvik Green Energy IPO using UPI as a payment gateway. Zerodha customers can apply in Saatvik Green Energy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Saatvik Green Energy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Saatvik Green Energy IPO opens on Fri, Sep 19, 2025 and closes on Tue, Sep 23, 2025.
Saatvik Green Energy IPO lot size is 32, and the minimum amount required for application is ₹14,880.
You can apply in Saatvik Green Energy IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Saatvik Green Energy IPO will be done on Wednesday, September 24, 2025, and the allotted shares will be credited to your demat account by Thu, Sep 25, 2025. Check the Saatvik Green Energy IPO allotment status.
The Saatvik Green Energy IPO listing date is on Fri, Sep 26, 2025.
