Saatvik Green Energy secures ₹269 crore from anchor investors ahead of its ₹900 crore IPO opening on September 19. Get details on price band, lot size, and proceeds usage.
Saatvik Green Energy IPO Update
Renewable energy firm Saatvik Green Energy has raised ₹269.4 crore from anchor investors ahead of its initial public offering (IPO), which is set to open for public subscription on September 19, 2025. The company informed the stock exchanges that it had allotted 57,93,547 equity shares at ₹465 each (including a share premium of ₹463) to anchor investors.
The IPO will close on September 23, 2025, with a total issue size of ₹900 crore. This includes a fresh issue worth ₹700 crore and an offer for sale (OFS) of ₹200 crore.
IPO Price Band and Lot Size
- Price Band: ₹442 to ₹465 per share
- Lot Size: 32 shares per lot
- Minimum Investment (Retail): ₹14,880 (at upper price band)
- Maximum Investment (Retail): 13 lots (416 shares)
Retail investors can bid for a minimum of one lot and up to 13 lots, depending on availability and subscription.
Use of Proceeds
The funds raised through this IPO will primarily be used for:
- Debt repayment and reduction
- Investment in subsidiary Saatvik Solar Industries
- Setting up a 4 GW solar PV module manufacturing facility
About Saatvik Green Energy
Founded in 2016, Saatvik Green Energy has emerged as one of India’s leading solar photovoltaic (PV) module manufacturers. As of March 31, 2025, the company had an installed capacity of 3.80 GW and had supplied over 2.50 GW of high-efficiency solar modules both domestically and internationally.
The company also operates in the EPC (Engineering, Procurement, and Construction) segment, delivering turnkey solar power projects. In FY24, it successfully commissioned a 12 MW rooftop solar installation for Jindal Steel and Power Limited, which was recognized as one of the largest single rooftop projects in the country.
By June 30, 2025, Saatvik Green Energy reported a domestic order book of 4.01 GW in solar PV modules. Additionally, it has executed 12 solar projects with a combined capacity of 69.12 MW till date.
Key Highlights
- Anchor Investors: ₹269.4 crore raised before IPO launch
- IPO Size: ₹900 crore (Fresh issue ₹700 crore + OFS ₹200 crore)
- Price Band: ₹442–₹465 per share
- Lot Size: 32 shares; minimum investment ₹14,880
- Use of Funds: Debt repayment, expansion of solar PV capacity, subsidiary investment
- Industry Position: Among India’s top PV module manufacturers with strong EPC presence
Positives (Why it could be a good investment)
- Strong Industry Outlook
- India is targeting 500 GW renewable energy by 2030. Solar PV is a big part of this mission. Demand outlook is strong.
- Established Player
- Saatvik is already among India’s leading solar PV module manufacturers, with a capacity of 3.8 GW.
- Robust Order Book
- As of June 2025, the company has a 4.01 GW domestic order book, ensuring near-term revenue visibility.
- Expansion Plans
- IPO proceeds will fund a 4 GW solar PV manufacturing facility, which could double capacity and market share.
- Government Push
- Policies like PLI (Production-Linked Incentives) and “Make in India” are driving domestic solar manufacturing demand.
Risks (Why it could be risky)
- Capital-Intensive Business
- Solar manufacturing requires heavy capex. If demand slows, high debt burden can hurt profits.
- High Competition
- Competes with Adani Solar, Waaree Energies, Vikram Solar, and global giants. Margins can get squeezed.
- Policy Dependence
- Sector depends heavily on government subsidies, tariffs, and import duties. Policy changes could impact profitability.
- IPO Valuation
- Price band ₹442–₹465 may look expensive if earnings don’t grow as projected.
- Execution Risk
- Setting up a new 4 GW facility is a big challenge. Delays or cost overruns could impact returns.
Expert Verdict
- For Long-Term Investors: Looks promising because of India’s renewable energy push, solid order book, and expansion strategy. Could be a good long-term bet if you can hold for 3–5 years.
- For Short-Term Investors: Risky. Listing gains are uncertain since valuation is on the higher side and depends on IPO demand.
In short:
- Good investment for long-term, growth-oriented investors who believe in India’s solar energy story.
- Not ideal for short-term traders looking for quick listing gains.
With a strong track record in solar PV manufacturing and EPC services, Saatvik Green Energy’s IPO is drawing significant market attention. Its focus on capacity expansion and debt reduction positions it well in India’s rapidly growing renewable energy sector.
However, market experts advise retail investors to carefully assess valuations, company fundamentals, and industry risks before making investment decisions.
Disclaimer: This article is for informational purposes only. It does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.