Incorporated in 2015, Saatvik Green Energy manufactures solar PV modules and offers EPC solutions for rooftop and utility‑scale projects, operating two facilities in Ambala with ~3.8 GW installed capacity as of June 30, 2025. Product lines include Mono‑PERC and n‑TOPCon modules in mono‑facial and bifacial variants, supported by rapid capacity expansion and a growing workforce.
Saatvik Green Energy IPO
Mainboard book‑built issue (Fresh + OFS + Employee)
UPCOMING IPOSaatvik Green Energy is raising ₹900 crore, comprising a fresh issue of about ₹700 crore and an OFS of about ₹200 crore, totaling 1,93,54,838 equity shares. The offer opened on September 19, 2025 and closes on September 23, 2025, with allotment expected on September 24 and listing proposed on BSE and NSE on September 26, 2025. The price band is ₹442 to ₹465 per share; the minimum retail application is 1 lot of 32 shares for ₹14,880, and eligible employees receive a ₹44 per‑share discount.
| Face Value | ₹2 per share |
|---|---|
| Issue Price Band | ₹442 to ₹465 per share |
| Offer Structure | Fresh + Offer for Sale + Employee Reservation |
| Total Shares | 1,93,54,838 shares (aggregating up to ₹900.00 crore) |
| Fresh Issue | 1,50,53,763 shares (aggregating up to ₹700.00 crore) |
| Offer for Sale | 43,01,075 shares (aggregating up to ₹200.00 crore) |
| Employee Discount | ₹44 per share (47,506 shares reserved) |
| Issue Type | Book‑building IPO |
| Listing | BSE, NSE |
| Shareholding (Pre / Post) | 11,20,47,000 / 12,71,00,763 shares |
| Lead Manager | Dam Capital Advisors Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Investor Category | Shares Offered |
|---|---|
| QIB | 96,53,666 (49.88%) |
| NII (HNI) | 28,96,100 (14.96%) |
| Retail (RII) | 67,57,566 (34.91%) |
| Employee | 47,506 (0.25%) |
| Total | 1,93,54,838 (100.00%) |
| Bid Date | Shares Offered | Anchor Portion | Lock‑in (50%) | Lock‑in (Balance) |
|---|---|---|---|---|
| Sep 18, 2025 | 57,93,547 | ₹269.40 crore | Oct 24, 2025 | Dec 23, 2025 |
| IPO Open | Fri, Sep 19, 2025 |
|---|---|
| IPO Close | Tue, Sep 23, 2025 |
| Allotment (Tentative) | Wed, Sep 24, 2025 |
| Refunds Initiation | Thu, Sep 25, 2025 |
| Credit to Demat | Thu, Sep 25, 2025 |
| Listing (Tentative) | Fri, Sep 26, 2025 |
| UPI Mandate Cut‑off | 5 PM on Sep 23, 2025 |
| 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 |
Incorporated in 2015, Saatvik Green Energy manufactures solar PV modules and offers EPC solutions for rooftop and utility‑scale projects, operating two facilities in Ambala with ~3.8 GW installed capacity as of June 30, 2025. Product lines include Mono‑PERC and n‑TOPCon modules in mono‑facial and bifacial variants, supported by rapid capacity expansion and a growing workforce.
Summary (₹ crore)
| 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 & Surplus | 315.25 | 117.36 | 16.89 |
| Total Borrowings | 458.10 | 263.42 | 144.49 |
Source: Finology profile, IPO trackers, and broker notes confirming price band, dates, lot, employee discount, anchor allocation and financials.