The solar module manufacturer aims to raise ₹900 crore through an IPO, which is a combination of a fresh issue and an offer for sale. The IPO comprises a fresh issue of 1.51 crore shares aggregating ₹700 crore and an offer for sale (OFS) of 0.43 crore shares worth ₹200 crore.
The price band has been fixed at ₹442–₹465 per share, and the lot size is 32 shares and in multiples thereafter. The issue will open for subscription between September 19–23, and the tentative date for listing of shares on the BSE and NSE is September 26.
As per the IPO document, up to 50% of the IPO has been reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs).
Incorporated in 2015, Saatvik Green Energy manufactures solar modules and provides engineering, procurement, and construction (EPC) services. After starting operations with an installed capacity of 125 MW, it has scaled up significantly over the years to reach 3.80 GW as of June 30, 2025. The company operates two large-scale manufacturing facilities in Ambala, Haryana, spread across 724,225 sq. ft.
On the earnings front, between FY24 and FY25, its revenue doubled to ₹2,192.47 crore in FY25 from ₹1,097.18 crore in FY24. The profit after tax (PAT) jumped 113% to ₹213.93 crore from ₹100.47 crore in the previous fiscal.
DAM Capital Advisors Ltd. is the book-running lead manager to the issue, while Kfin Technologies Ltd. is acting as the registrar.
