Saatvik Green Energy IPO subscribed 59%

The offer received bids for 84.05 lakh shares as against 1.42 crore shares on offer.

The initial public offer of Saatvk Green Energy received bids for 84, 5,344 shares as against 1,42,71,970 shares on offer, according to stock exchange data at 17:00 IST on Friday (19 September 2025). The issue was subscribed 0.59 times.

The issue opened for bidding on 19 September 2025 and it will close on 23 September 2025. The price band of the IPO is fixed between Rs 442 and 465 per share. An investor can bid for a minimum of 32 equity shares and in multiples thereof.

The IPO comprises offer for sale (OFS) of equity shares aggregating to Rs 200 crore and fresh issue of equity shares, aggregating to Rs 700 crore.

Of the OFS, the entire lot is by promoter shareholders,i.e., Parmod Kumar [Rs 112 crore] and Sunila Garg [Rs 88 crore]

Of the net proceeds from the fresh issue, about Rs 10.819 crore will be used for payment/pre-payment of certain outstanding borrowings; Rs 166.436 crore for investment in Saatvik Solar Industries, a wholly owned subsidiary, for repayment and prepayment of certain borrowings availed by the subsidiary; Rs 477.227 crore towards investment in Saatvik Solar Industries, a WOS of the company for setting up of a 4 GW solar PV module manufacturing facility at Gopalpur (Odisha); and balance for general corporate purposes

Saatvik Green Energy is among the leading module manufacturers in India in terms of operational solar photovoltaic (PV) module manufacturing capacity, with an operational capacity of about 3.80 gigawatt (GW) modules as of March 31, 2025. It is recognized as one of the few companies with capabilities in module manufacturing as well as engineering, procurement and construction (EPC) and operations and maintenance (O&M) services.

The EPC vertical provides comprehensive solar solutions, managing projects from concept through to execution. The offerings of this vertical include ground-mounted solar installations and rooftop solar installations. It also provides O&M services to customers, primarily for EPC projects undertaken by the company.

Ahead of the IPO, Saatvik Green Energy on Thursday, 18 September 2025, raised Rs 269.39 crore from anchor investors. The board allotted 57.93 lakh shares at Rs 465 each to 9 anchor investors.

The firm reported a consolidated net profit of Rs 213.93 crore and sales of Rs 2,158.39 crore for the three months ended on 31st March 2025.

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