Saatvik Green Energy Limited IPO

Saatvik Green Energy Limited IPO

Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹442 - ₹465

Total Issue

₹900.00 Cr

Bid Dates

19 Sep - 23 Sep

Subscription

6.57x

Est. GMP

₹60 (12.90%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

Saatvik Green Energy Limited is a solar photovoltaic module manufacturer with an operational capacity of 3.80 GW as of February 28, 2025. Its product range includes Mono PERC and N-TopCon modules in both mono-facial and bifacial options, catering to residential, commercial, and utility-scale projects. In addition to manufacturing, the company provides end-to-end EPC services for ground-mounted and rooftop solar installations, along with operations and maintenance support, offering comprehensive solutions across the solar energy value chain.

Lot Info

Lot Information for Saatvik Green Energy IPO
Category 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

Category Reservation

QIB 50%
NII 15%
Ret 35%
Employee
₹ 2 Cr
Shareholder
NA

Issue Size

Total ₹900.00 Cr
Fresh Issue
₹700.00 Cr (1.51 Cr Shares)
Offer For Sale
₹200.00 Cr (0.43 Cr Shares)

Objects of Issue

  1. Prepayment in full or in part, of all or a portion of certain outstanding borrowings availed by our Company
  2. Setting up of a 4 GW solar PV module manufacturing facility in Odisha
  3. Investment in Wholly Owned Subsidiary for repayment / prepayment of certain borrowings availed by it
  4. General corporate purposes

Grey Market Premium

GMP ₹60
Est. Price ₹525
Est. Gain 12.90%

Saatvik Green Energy IPO Peer Comparison

(Rs. in crores)

Saatvik Green Energy IPO Peer Comparison Table
Particulars Saatvik Green Energy Waaree Energies Premier Energies
Revenue from Ops (in Crs.) 2,158.39 14,444.50 6,518.75
PAT (In Crs.) 213.93 1,928.13 937.13
Order Book 5,076.85 47,000.00 8,445.60
EPS - Basic 19.09 68.24 21.35
NAV per share 30.14 158.13 15.33
RONW 63.41% 19.48% 33.14%
EBITDA 16.40% 21.63% 29.36%
PAT Margin 9.76% 12.99% 14.09%
Price to earning (PE) 24.38 55.02 49.96
Debt to Equity 1.36 0.10 0.67
  • All information pertains to FY 2024-25.
  • The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of September 11, 2024 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Saatvik Green Energy IPO
Particulars Mar-25 Mar-24 Mar-23 Mar-22
Revenue from Operations 2,158.39 1,087.97 608.59 479.95
Profit after Tax 213.93 100.47 4.75 5.96
Net Worth 337.66 120.67 20.27 15.62
Total Borrowing 458.10 263.42 144.49 101.98
Total Assets 1,635.74 688.04 263.00 217.41
NAV per share (in ₹) 30.14 10.77 1.81 1.39
EPS - Basic (in ₹) 19.07 8.96 0.42 0.53

KPIs

EBITDA

16.40%

PAT

9.76%

ROE

63.41%

ROCE

60.45%

Debt to Equity

1.36

PE Ratio

24.38

PB Ratio

15.43

Mkt Cap (in Crs.)

5,910.39

  • All the data pertains to FY 2024-25.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

90.05%

Public

9.95%

SPG Trust 43.44%
Manik Garg 15.12%
Neelesh Garg 14.22%
Manavika Garg 0.91%
Other Promoter 16.36%

Management

Neelesh Garg Chairman
Manik Garg MD
Prashant Mathur CEO
Abani Jha CFO

Registrar & Lead Managers

Registrar

KFin Technologies

KFin Technologies

Subscription Status

Updated as on 23-Sep-2025 19:00:00

Mainboard Subscription Status for Saatvik Green Energy IPO
Category Sub (x) Offered Bids
QIB 11.40 38,62,367 4,40,28,000
NII 10.56 28,96,774 3,06,02,752
bHNI 11.28 19,31,183 2,17,86,144
sHNI 9.13 9,65,591 88,16,608
Retail 2.80 67,59,140 1,89,12,288
Employee 5.59 47,506 2,65,632
Total 6.92 1,35,65,787 9,38,08,672

Frequently Asked Questions

What is Saatvik Green Energy IPO?
Saatvik Green Energy IPO is a Mainboard IPO having an issue size of ₹900.00 Crs. Saatvik Green Energy IPO is priced at ₹442 - ₹465 per share. The issue opens on 19 Sep 25 and closes on 23 Sep 25.
When will Saatvik Green Energy IPO open?
Saatvik Green Energy IPO opens on 19 Sep 25 and closes on 23 Sep 25.
What is the GMP of Saatvik Green Energy IPO?
The estimated Grey Market Premium of Saatvik Green Energy IPO is ₹60 per share (12.90%).
What is the lot size of Saatvik Green Energy IPO?
The minimum lot size of Saatvik Green Energy IPO is 32 shares & the minimum application amount is Rs. 14880.
When is the allotment of Saatvik Green Energy IPO?
The allotment date of Saatvik Green Energy IPO is 24 Sep 25.
What is the listing date of Saatvik Green Energy IPO?
The listing date of Saatvik Green Energy IPO is 26 Sep 25.
What is the subscription of Saatvik Green Energy IPO?
Saatvik Green Energy IPO is subscribed 6.57 times.
What is the price band of Saatvik Green Energy IPO?
Saatvik Green Energy IPO is priced at ₹442 - ₹465 per share.
How to check allotment status of Saatvik Green Energy IPO?
Click the allotment link on Saatvik Green Energy IPO page of IPO360.
How to apply Saatvik Green Energy IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Saatvik Green Energy IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Saatvik Green Energy IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Saatvik Green Energy IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date