Saatvik Green Energy IPO
Open MainLineCurrent GMP
₹10 (+2.15%)
Price Band
₹ 442 – 465
Lot Size
32
Issue Size
₹900 Cr
Minimum Investment
₹14880 (32 Shares)
Listing Date
26 September 2025
Subscription
6.57x
About the Company
Saatvik Green Energy Limited
Incorporated in 2015, Saatvik Green Energy Limited is engaged in the manufacturing of solar photovoltaic (PV) modules and providing engineering, procurement, and construction (EPC) services.
The company offers a comprehensive portfolio of high-performance solar modules, manufactured using advanced technologies that minimize energy loss and maximize overall efficiency.
Saatvik commenced manufacturing operations in 2016 and has consistently expanded its production capacity over the years—from 125 MW as of March 31, 2017, to approximately 3.80 GW as of June 30, 2025.
The company operates two state-of-the-art module manufacturing facilities located in Ambala, Haryana (the “Ambala Facilities”), spread across a total land area of 724,225 square feet.
Product Portfolio:
- Monocrystalline PERC (Mono PERC) Modules
- N-TopCon Solar Modules
- Available in both mono-facial and bifacial variants
- Suitable for residential, commercial, and utility-scale solar projects
Workforce:
As of:
- June 30, 2025 – 618 full-time employees
- March 31, 2025 – 566 full-time employees
- March 31, 2024 – 270 full-time employees
- March 31, 2023 – 138 full-time employees
Promoters
- Neelesh Garg
- Manik Garg
- Manavika Garg
- SPG Trust
Promoters Holding
Holding Pre Issue
90.05%
Holding Post Issue
0.00%
Objects of the Issue
The Company Saatvik Green Energy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company
- Investment in our 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
- Investment in our 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”)
- General corporate purposes
Address / Contact Info
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/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 19 September 2025
IPO Close Date
Tuesday, 23 September 2025
Basis of Allotment
Wednesday, 24 September 2025
Initiation of Refunds
Thursday, 25 September 2025
Credit of Shares to Demat
Thursday, 25 September 2025
Listing Date
Friday, 26 September 2025 — NSE & BSE
Important Dates
Open Date
19 September 2025
Close Date
23 September 2025
Basis Of Allotment
24 September 2025
Listing Date
26 September 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Dec 2023 |
|---|---|---|---|
| Assets | 1635.74 | 688.04 | 373.1 |
| Revenue | 2192.47 | 1097.18 | 643.35 |
| Profit After Tax | 213.93 | 100.47 | 36.24 |
| Net Worth | 337.66 | 120.67 | 56.54 |
| Reserve & Surplus | 315.25 | 117.36 | 16.89 |
| Total Borrowings | 458.1 | 263.42 | 132.63 |
EPS Pre
19.09%
EPS Post
16.83%
P/E Pre
24.35
P/E (Post Issue)
27.63x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Mon |
|---|---|
| ROE % | 63.41 |
| ROCE % | 60.45 |
| Debt / Equity | 1.36 |
| RoNW % | 63.41 |
| PbW | 0 |
| Pat Margin % | 9.76 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 4063347 | 28.47 | 0 |
| Non-Institutional | 3047512 | 21.36 | 0 |
| BNII | 2031675 | 14.24 | 0 |
| SNII | 1015837 | 7.12 | 0 |
| Retail Investors | 7110860 | 49.82 | 0 |
| Employees | 50251 | 0.35 | 0 |
| Total | 14271970 | 100 | 0 |
Subscription Status ( Tue, 23 Sep 25 01:34 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 4063347 | 44028000 | 10.84x |
| Non-Institutional | 3047512 | 30602752 | 10.04x |
| BNII | 2031675 | 21786144 | 10.72x |
| SNII | 1015837 | 8816608 | 8.68x |
| Retail Investors | 7110860 | 18912288 | 2.66x |
| Employees | 50251 | 265632 | 5.29x |
| Total | 14271970 | 93808672 | 6.57x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Saatvik Green Energy Ltd | 2 | 0.00 | 19.09 | 19.07 | 63.41 | 30.14 |
| Waaree Energies Ltd | 10 | 55.02 | 68.24 | 67.96 | 19.48 | 158.13 |
| Premier Energies Ltd | 1 | 49.96 | 21.35 | 21.35 | 33.14 | 15.33 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 32 | 14,880.00 |
| Retail (Max) | 13 | 416 | 193,440.00 |
| S-HNI (Min) | 14 | 448 | 208,320.00 |
| S-HNI (Max) | 67 | 2,144 | 996,960.00 |
| B-HNI (Min) | 68 | 2,176 | 1,011,840.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Ambit Private Limited
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- Motilal Oswal Investment Advisors Pvt Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Saatvik Green Energy IPO is a Book-building IPO worth ₹900 crores. The price band is ₹442 to 465 per share. The IPO opens on Fri, Sep 19, 2025 and closes on Tue, Sep 23, 2025. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Saatvik Green Energy IPO opens on Fri, Sep 19, 2025 and closes on Tue, Sep 23, 2025
Saatvik Green Energy IPO Price Band is ₹442 to 465.
Saatvik Green Energy IPO lot size is 32, and the minimum amount required for application is ₹14880.
The minimum investment for Saatvik Green Energy IPO is approximately ₹14880 based on the upper price band.
To apply for the Saatvik Green Energy IPO , investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Sep 23, 2025. After submission, funds are blocked until the basis of allotment of Saatvik Green Energy IPO is finalised.
Saatvik Green Energy IPO issue size is ₹900 crores.
Saatvik Green Energy IPO allotment date is Sat, Jun 27, 2026.
The registrar for Saatvik Green Energy IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Saatvik Green Energy IPO through their official website or helpline.
The Saatvik Green Energy IPO GMP (Grey Market Premium) is ₹10 as of Fri, Sep 26, 2025. Based on the upper price band of ₹465 per share, the estimated Saatvik Green Energy IPO listing price is ₹475, indicating a potential listing gain of approximately 31% over the issue price.