Saatvik Green Energy IPO Description – Saatvik Green Energy is a leading solar photovoltaic (PV) module manufacturer in India, with an operational manufacturing capacity of approximately 3.80 GW as of 31 March 2025. Since commencing operations in 2016, the company has grown rapidly, supplying over 2.50 GW of high-efficiency modules to domestic and international markets. It operates three fully automated manufacturing facilities in Ambala, Haryana, spread across 7,24,225 sq. ft., achieving over 83.70% capacity utilization in Fiscal 2025.
Saatvik’s product portfolio includes advanced Mono PERC and N-TopCon modules, available in mono-facial and bifacial variants, employing M10, G12, M10R, and G12R technologies. The company is expanding its manufacturing footprint with new facilities in Odisha and Madhya Pradesh, aiming to add 4.80 GW cell and 4.00 GW module capacity by Fiscal 2027.
A prominent EPC service provider, Saatvik, installed 69.12 MW in Fiscal 2025 and completed major projects such as a 61.42 MW floating plant in Telangana and rooftop installations for Jindal Steel. Its domestic order book stood at 4.01 GW as of 31 March 2025.
Promoters of Saatvik Green Energy – Neelesh Garg, Manik Garg, Manavika Garg, and SPG Trust
Table of Contents
Saatvik Green Energy IPO Details
| Saatvik Green Energy IPO Dates | 19 – 23 September 2025 |
| Saatvik Green Energy IPO Price | INR 442 – 465 per share Employee discount – INR 44 per share |
| Fresh issue | INR 700 crore |
| Offer For Sale | INR 200 crore |
| Total IPO size | INR 900 crore |
| Minimum bid (lot size) | 32 shares (INR 14,880) |
| Face Value | INR 2 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Saatvik Green Energy Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 608.59 | 1,087.97 | 2,158.39 |
| Expenses | 610.96 | 965.31 | 1,912.85 |
| Net income | 4.75 | 100.47 | 213.93 |
| Margin (%) | 0.78 | 9.23 | 9.91 |
Saatvik Green Energy Offer News
- Saatvik Green Energy RHP
- Saatvik Green Energy DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Saatvik Green Energy Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre-Issue) | FY 2025 (Post-Issue)* | |
| EPS | 0.42 | 8.96 | 19.07 | 16.83 |
| PE Ratio | – | – | 23.18 – 24.38 | 26.26 – 27.63 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 23.40 | 83.21 | 63.41 |
| NAV | 1.81 | 10.77 | 30.14 |
| ROCE (%) | 24.80 | 64.07 | 60.45 |
| EBITDA (%) | 3.92 | 14.42 | 16.40 |
| Debt/Equity | 7.13 | 2.18 | 1.36 |
Saatvik Green Energy IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Subject to Sauda |
| 25 September 2025 | 7 | 100 |
| 24 September 2025 | 7 | 100 |
| 23 September 2025 | 10 | 200 |
| 22 September 2025 | 19 | 400 |
| 20 September 2025 | 33 | 800 |
| 19 September 2025 | 65 | 1,500 |
| 18 September 2025 | 75 | 1,900 |
| 17 September 2025 | 75 | 1,900 |
Saatvik Green Energy IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Prepayment or scheduled repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company – INR 10.82 crore
- Investment in its wholly owned subsidiary, Saatvik Solar Industries, 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 – INR 166.44 crore
- Investment in its wholly owned subsidiary, Saatvik Solar Industries, for setting up a 4 GW solar PV module manufacturing facility at Ganjam, Odisha – INR 477.23 crore
- General corporate purposes
Saatvik Green Energy IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Emp | Total |
|---|---|---|---|---|---|
| Shares Offered | 40,63,347 | 30,47,512 | 71,10,860 | 50,251 | 1,42,71,970 |
| 23 Sep 2025 | 10.84 | 10.04 | 2.66 | 5.29 | 6.57 |
| 22 Sep 2025 | 0.01 | 1.38 | 1.56 | 3.34 | 1.09 |
| 19 Sep 2025 | 0.01 | 0.67 | 0.88 | 1.92 | 0.59 |
57,93,547 shares allotted to anchor investors are not included in these calculations.
Saatvik Green Energy – Comparison With Listed Peer
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Saatvik Green Energy | 27.63 | 16.83 | 63.41 | 30.14 | 2,158.39 |
| Waaree Energies | 55.02 | 67.96 | 19.48 | 158.13 | 14,444.50 |
| Premier Energies | 49.96 | 21.35 | 33.14 | 15.33 | 6,518.75 |
Saatvik Green Energy IPO Allotment Status
Saatvik Green Energy IPO allotment status is now available on the KFin Tech website. Click on this link to get the allotment status.
Saatvik Green Energy IPO Dates & Listing Performance
| IPO Opening Date | 19 September 2025 |
| IPO Closing Date | 23 September 2025 |
| Finalization of Basis of Allotment | 24 September 2025 |
| Initiation of refunds | 25 September 2025 |
| Transfer of shares to demat accounts | 25 September 2025 |
| Saatvik Green Energy IPO Listing Date | 26 September 2025 |
| Opening Price on NSE | INR 465 per share (no change) |
| Closing Price on NSE | INR 440.70 per share (down 5.23%) |
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Saatvik Green Energy Offer Lead Manager
DAM CAPITAL ADVISORS LIMITED
One BKC, Tower C, 15th Floor, Unit No.1511,
Bandra Kurla Complex, Bandra (East), Mumbai 400051
Phone: +912242022500
Email: [email protected]
Website: www.damcapital.in
Saatvik Green Energy Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
Saatvik Green Energy Contact Details
SAATVIK GREEN ENERGY LIMITED
Tower A, IFFCO Complex, Plot No. 3, Institutional Area,
Sector 32, Gurugram 122 001, Haryana, India
Phone: 0124-3626755
Email: [email protected]
Website: www.saatvikgroup.com
Saatvik Green Energy IPO FAQs
How many shares in the Saatvik Green Energy IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for the Saatvik Green Energy Public Offer?
The best way to apply for the Saatvik Green Energy public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is the Saatvik Green Energy IPO GMP today?
Saatvik Green Energy IPO GMP today is INR 7 per share.
What is the Saatvik Green Energy kostak rate today?
Saatvik Green Energy kostak rate today is INR NA per application.
What is Saatvik Green Energy Subject to Sauda rate today?
Saatvik Green Energy Subject to Sauda rate today is INR 100 per application.