Saatvik Green Energy IPO
GMP, Subscription, Price, Dates & Financial Details
Power and Energy
Saatvik Green Energy LimitedIncorporated 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,…
Open Date
Fri, 19 Sep 2025
Close Date
Tue, 23 Sep 2025
Price Band
₹ 442 – 465
Lot Size
32
Issue Size
₹ 900.00 Cr
Minimum Investment
₹ 14,880 (32 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Saatvik Green Energy IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹900.00 Crore, comprising a fresh issue of 1.51 Crore equity shares aggregating to ₹700.00 Crore and an offer for sale (OFS) of 43.01 Lakh equity shares aggregating to ₹200.00 Crore by the existing shareholders.
The Saatvik Green Energy IPO remained open for subscription from September 19, 2025, to September 23, 2025. The basis of allotment was finalized on September 24, 2025, and the company's shares were listed on the NSE and BSE on September 26, 2025.
The company had fixed the price band at ₹442 to ₹465 per share, with a lot size of 32 shares. Retail investors were required to make a minimum investment of ₹14,880 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Ambit Private Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), and Motilal Oswal Investment Advisors Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Saatvik Green Energy Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Saatvik Green Energy IPO Timeline (Tentative)
- IPO Open Date
- Fri, 19 Sep 25
- IPO Close Date
- Tue, 23 Sep 25
- Basis of Allotment
- Wed, 24 Sep 25
- Initiation of Refunds
- Thu, 25 Sep 25
- Credit of Shares to Demat
- Thu, 25 Sep 25
- Listing Date
- Fri, 26 Sep 25 — NSE & BSE
Open Date
19 September 2025
Close Date
23 September 2025
Basis Of Allotment
24 September 2025
Listing Date
26 September 2025
IPO Subscription
Check Live Subscription →The Saatvik Green Energy IPO has received bids for 9,38,08,672 shares against 1,42,71,970 shares offered, resulting in an overall subscription of 6.57x. the NII category is subscribed 10.04x, Retail Investors 2.66x, Employees 5.29x, and QIBs 10.84x. Within the NII category, BNII is subscribed 10.72x, while SNII is subscribed 8.68x.
QIB
10.84x
NII
10.04x
BNII
10.72x
SNII
8.68x
RII
2.66x
EMP
5.29x
Total
6.57x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 71,10,860 shares, representing 49.82% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 40,63,347 shares (28.47%), while Non-Institutional Investors (NIIs) receive 30,47,512 shares (21.36%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 4,063,347 | 28.47% |
| Non-Institutional | 3,047,512 | 21.36% |
| BNII | 2,031,675 | 14.24% |
| SNII | 1,015,837 | 7.12% |
| Retail Investors | 7,110,860 | 49.82% |
| Employees | 50,251 | 0.35% |
| Total | 14,271,970 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Saatvik Green Energy Limited KPI Information
| Particular | KPI as of Mon |
|---|---|
| ROE % | 63.41 |
| ROCE % | 60.45 |
| Debt / Equity | 1.36 |
| RoNW % | 63.41 |
| Pat Margin % | 9.76 |
Peers Comparison
| 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 |
About Saatvik Green Energy Limited
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
Saatvik Green Energy IPO Promoters
- Neelesh Garg
- Manik Garg
- Manavika Garg
- SPG Trust
Promoters Holding
Holding Pre Issue
90.05%
Holding Post Issue
0.00%
Saatvik Green Energy IPO Objective
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
Saatvik Green Energy Limited Address / Contact Details
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
Saatvik Green Energy IPO Lot Size
The Saatvik Green Energy IPO has a lot size of 32 shares. Retail investors require a minimum investment of ₹14,880 by applying for 1 lot (32 shares). The maximum application allowed for the retail category is 13 lots (416 shares), requiring an investment of ₹1,93,440.
| 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 |
Issue Reservation
- QIB — 28.47%
- NII — 21.36%
- RII — 49.82%
- EMP — 0.35%
Book Running Lead Managers
- Ambit Private Limited
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- Motilal Oswal Investment Advisors Ltd
IPO Documents & Links
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Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Saatvik Green Energy IPO?
Saatvik Green Energy IPO is a Book-building IPO with a total issue size of ₹900 crore. The Saatvik Green Energy IPO price band is ₹442 to 465 per share. The Saatvik Green Energy IPO subscription opens on Fri, Sep 19, 2025, and closes on Tue, Sep 23, 2025. The Saatvik Green Energy IPO will be listed on the BSE,NSE. KFin Technologies Limited is the registrar for the Saatvik Green Energy IPO.
When will the Saatvik Green Energy IPO open for subscription?
The Saatvik Green Energy IPO opens on Fri, Sep 19, 2025 and closes on Tue, Sep 23, 2025
What is Saatvik Green Energy IPO Price Band?
Saatvik Green Energy IPO Price Band is ₹442 to 465 per share.
What is Saatvik Green Energy IPO Lot Size?
Saatvik Green Energy IPO lot size is 32 shares, Retail investors need a minimum investment of ₹14880 based on the upper price band
What is the minimum investment for Saatvik Green Energy IPO?
The minimum investment for Saatvik Green Energy IPO is ₹14880, based on one lot of 32 shares at the upper price band of ₹465 per share.
How to apply for Saatvik Green Energy IPO?
Investors can apply for the Saatvik Green Energy IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Sep 23, 2025. The application amount remains blocked until the Saatvik Green Energy IPO allotment is finalized.
What is Saatvik Green Energy IPO Issue Size?
Saatvik Green Energy IPO issue size is ₹900 crores.
What is the Saatvik Green Energy IPO Allotment Date?
Saatvik Green Energy IPO allotment date is Wed, Sep 24, 2025.
Who is the Saatvik Green Energy IPO Registrar?
The registrar for Saatvik Green Energy IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Saatvik Green Energy IPO allotment status, refund processing, and other IPO-related information.
What is the Saatvik Green Energy IPO GMP?
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 2.15% over the issue price.
Who is the Saatvik Green Energy IPO Lead Manager?
The book-running lead managers (BRLMs) for the Saatvik Green Energy IPO are Ambit Private Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), and Motilal Oswal Investment Advisors Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Saatvik Green Energy IPO Red Herring Prospectus (RHP).