Saatvik Green Energy IPO opens on Sept 19, sets price band at ₹442-465

Saatvik Green Energy aims to raise ₹900 crore through a combination of fresh issue of 15.1 million equity shares worth ₹700 crore and OFS of 4.3 million shares worth ₹200 crore

Saatvik Green Energy IPO: The initial public offering (IPO) of Gurugram-based solar panels manufacturing company Saatvik Green Energy is set to open for public subscription on September 19, 2025. The company has set the price band in the range of ₹442 to ₹465 per share. 

 

The company aims to raise ₹900 crore through a combination of fresh issue of 15.1 million equity shares worth ₹700 crore and offer for sale (OFS) of 4.3 million shares worth ₹200 crore. Pramod Kumar and Sunila Garg are the selling shareholders.

 

According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors (NIIs). 

 

 

Kfin Technologies is the registrar of the issue. DAM Capital Advisors, Ambit Private Limited, and Motilal Oswal Investment Advisors are the book-running lead managers. 

 

According to the RHP, the issue will open for subscription on Friday, September 19, 2025, and close on Tuesday, September 23, 2025. The anchor investor period shall be one day prior to the opening date, i.e. Thursday, September 18, 2025. The basis of allotment of shares is likely to be finalised on Wednesday, September 24, 2025. The stock will be listed on the National Stock Exchange (NSE) and BSE, tentatively on Friday, September 26, 2025.

 

The lot size for an application is 32 shares. Accordingly, a retail investor would require a minimum investment amount of ₹14,880 to bid for one lot or 32 shares at the upper end price.

 

According to RHP, the company plans to utilise ₹10.8 crore from the fresh issue proceeds for repayment of debt, ₹166.43 crore for investment in its wholly owned Subsidiary, Saatvik Solar Industries, and ₹477.22 crore for setting up a 4 GW solar PV module manufacturing facility in Odisha. Further, the remaining funds will be used for general corporate purposes.  Check Airfloa Rail Technology IPO Allotment Status

About Saatvik Green Energy

Incorporated in 2015, Saatvik Green Energy is the manufacturer of modules and offers engineering, procurement and construction (EPC). It offers a comprehensive portfolio of solar module products, including: (i) monocrystalline passive emitter and rear cell (Mono PERC) modules; and (ii) N-TopCon solar modules, both types are offered in mono-facial and bifacial options, suitable for various applications, including residential, commercial and utility-scale solar projects. The products are manufactured through the use of M10 technology for Mono PERC modules and M10, G12, M10R and G12R technologies for N-TopCon modules. 

 

The company operates two module manufacturing facilities in Ambala, Haryana. It has an operational capacity of about 3.80 gigawatt (GW) modules as of March 31, 2025.