Saatvik Green Energy Limited IPO
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.
Price Band₹442 - ₹465 |
Dates19 Sep - 23 Sep |
GMP₹60 (12.90%) |
Subscriptions6.57 times |
Issue Size₹900.00 Crs |
Saatvik Green Energy IPO Key Dates
Opening Date
19 Sep 25
Closing Date
23 Sep 25
Basis Of Allotment
24 Sep 25
Initiations Of Refund
25 Sep 25
Credit Of Shares
25 Sep 25
Listing Date
26 Sep 25
Saatvik Green Energy IPO Objects
- Prepayment in full or in part, of all or a portion of certain outstanding borrowings availed by our Company
- Setting up of a 4 GW solar PV module manufacturing facility in Odisha
- Investment in Wholly Owned Subsidiary for repayment / prepayment of certain borrowings availed by it
- General corporate purposes
Saatvik Green Energy IPO Details
Price Band₹442 - ₹465 |
Listing AtNSE & BSE |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹700.00 Cr (1.51 Cr Shares) |
Offer For Sale₹200.00 Cr (0.43 Cr Shares) |
Total Issue₹900.00 Cr (1.94 Cr Shares) |
Face Value₹2 per equity share |
Saatvik Green Energy IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
1
32
14,880
Maximum
13
416
1,93,440
|
|||
| Small HNI |
Minimum
14
448
2,08,320
Maximum
67
2,144
9,96,960
|
|||
| Big HNI |
Minimum
68
2,176
10,11,840
|
|||
Saatvik Green Energy IPO Subscription
Updated as on 23-Sep-2025 19:00:00
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 10.84 | 40,63,347 | 4,40,28,000 |
| NII | 10.04 | 30,47,512 | 3,06,02,752 |
| bNII (bids above ₹10L) | 10.72 | 20,31,675 | 2,17,86,144 |
| sNII (bids between ₹2L to ₹10L) | 8.68 | 10,15,837 | 88,16,608 |
| Retail | 2.66 | 71,10,860 | 1,89,12,288 |
| Employee | 5.29 | 50,251 | 2,65,632 |
| Total | 6.57 | 1,42,71,970 | 9,38,08,672 |
Saatvik Green Energy IPO GMP
The estimated Grey Market Premium of Saatvik Green Energy IPO is ₹60 per share (12.90%)
Category Allocation
| Particulars | Allocation |
|---|---|
| QIBs | Not more than 50% of Net Offer |
| Big HNIs (NII) | Not less than 10% of Net Offer |
| Small HNIs (NII) | Not less than 5% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| Employee | ₹ 2 Cr |
| Shareholder | NA |
Saatvik Green Energy IPO Financials
| 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 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | Values |
|---|---|
| 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.
Saatvik Green Energy IPO Peer Comparision
| 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
Saatvik Green Energy IPO Peer Comparision
| Particulars | Saatvik Green Energy |
|---|---|
| Revenue from Ops (in Crs.) | 2,158.39 |
| PAT (In Crs.) | 213.93 |
| Order Book | 5,076.85 |
| EPS - Basic | 19.09 |
| NAV per share | 30.14 |
| RONW | 63.41% |
| EBITDA | 16.40% |
| PAT Margin | 9.76% |
| Price to earning (PE) | 24.38 |
| Debt to Equity | 1.36 |
| Waaree Energies | Premier Energies |
|---|---|
| 14,444.50 | 6,518.75 |
| 1,928.13 | 937.13 |
| 47,000.00 | 8,445.60 |
| 68.24 | 21.35 |
| 158.13 | 15.33 |
| 19.48% | 33.14% |
| 21.63% | 29.36% |
| 12.99% | 14.09% |
| 55.02 | 49.96 |
| 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
Promoter Details
| Name | Shareholding |
|---|---|
| SPG Trust | 43.44% |
| Manik Garg | 15.12% |
| Neelesh Garg | 14.22% |
| Manavika Garg | 0.91% |
| Other Promoter | 16.36% |
| Total | 90.05% |
Management Details
| Name | Designation |
|---|---|
| Neelesh Garg | Chairman |
| Manik Garg | MD |
| Prashant Mathur | CEO |
| Abani Jha | CFO |
Company Details
Name: Saatvik Green Energy Limited
Address: Vill. Dubli, V.P.O, Bihta Tehsil, Ambala – 133 101 Haryana, India
Number: 0124-3626755
Email: investors@saatvikgroup.com
Website: https://saatvikgroup.com/
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Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Saatvik Green Energy IPO is a Mainboard IPO having an issue size of Rs. ₹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.
Saatvik Green Energy IPO opens on 19 Sep 25 and closes on 23 Sep 25.
The estimated Grey Market Premium of Saatvik Green Energy IPO is ₹60 per share (12.90%).
The minimum lot size of Saatvik Green Energy IPO is 32 shares & the minimum application amount is Rs. 14880.
The allotment date of Saatvik Green Energy IPO is 24 Sep 25.
The listing date of Saatvik Green Energy IPO is 26 Sep 25.
Saatvik Green Energy IPO is subscribed 6.57 times.
Saatvik Green Energy IPO is priced at ₹442 - ₹465 per share.
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