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Saatvik Green Energy Ltd. 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 ₹465.00 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 Date | September 19, 2025 to September 23, 2025 |
| Listing Date | September 26, 2025 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹442 to ₹465 per share |
| Issue Price Final | ₹465 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,93,59,079 shares (aggregating up to ₹900.20 Cr) |
| Fresh Issue | 1,50,58,004 shares (aggregating up to ₹700.20 Cr) |
| Offer for Sale | 43,01,075 shares of ₹2 (aggregating up to ₹200.00 Cr) |
| Employee Discount | ₹44.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 11,20,47,000 shares |
| Share Holding Post Issue | 12,71,05,004 shares |
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 | Maximum 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%) |
| 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 |
Saatvik Green Energy IPO raises ₹269.40 crore from anchor investors. Saatvik Green Energy IPO Anchor bid date is September 18, 2025. Saatvik Green Energy IPO Anchor Investors list
| Bid Date | September 18, 2025 |
| Shares Offered | 57,93,547 |
| Anchor Portion Size (In Cr.) | 269.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 23, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 22, 2025 |
Saatvik Green Energy IPO opens on September 19, 2025, and closes on September 23, 2025.
| IPO Open Date | Fri, Sep 19, 2025 |
| IPO Close Date | Tue, Sep 23, 2025 |
| Tentative Allotment | Wed, Sep 24, 2025 |
| Initiation of Refunds | Thu, Sep 25, 2025 |
| Credit of Shares to Demat | Thu, Sep 25, 2025 |
| Tentative Listing Date | Fri, Sep 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Sep 23, 2025 |
Investors can bid for a minimum of 32 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| 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 |
| Market Capitalization | 5910.19 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 19.09 | 16.83 |
| P/E (x) | 24.35 | 27.63 |
The Company Saatvik Green Energy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] SGEL is one of the leading module manufacturers and a fastest growing company in India. It reaped the benefits of China+1 regime and anti-dumping duty on Chinese modules by GoI. The company posted spectacular performance with surge in its top and bottom lines for the reported periods. Based on its recent financial data, the issue appears fully priced. Investors can park funds for the medium to long term rewards. Read detail review...
| Listing Date | September 26, 2025 |
| BSE Script Code | 544526 |
| NSE Symbol | SAATVIKGL |
| ISIN | INE13B501022 |
| Final Issue Price | ₹465 per share |
| NSE Listing Group | EQ (Rolling) |
| BSE Listing Group | B (Rolling) |
| 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 Ltd.
Vill. Dubli,
V.P.O
Bihta Tehsil, ,
Ambala, Haryana, 133101
Phone: 0124-3626755
Email: investors@saatvikgroup.com
Website: https://saatvikgroup.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: saatvik.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
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 ₹900.20 Crores. The issue is priced at ₹465 per share. The minimum order quantity is 32.
The IPO opens on September 19, 2025, and closes on September 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 September 19, 2025 and closes on September 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 Thursday, September 25, 2025. Check the Saatvik Green Energy IPO allotment status.
The Saatvik Green Energy IPO listing date is on Friday, September 26, 2025.
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