Saatvik Green Energy Limited IPO
Saatvik Green Energy Limited IPO
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The Initial Public Offering of Saatvik Green Energy Limited's culminated in its successful listing on 26-09-2025 at the NSE, BSE trading platform. The company secured 1,93,54,838 Shares through this capital market exercise, with 1,50,53,763 Shares allocated to new capital formation and ₹200.00 Cr to existing shareholder liquidity.
Investors participated within the price parameters of ₹442 to ₹465, with minimum investment requirements of 32 shares. The subscription period from 19-09-2025 to 23-09-2025 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on 24-09-2025. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Saatvik Green IPO About Company
Saatvik Green Energy Limited, founded in 2015, is a solar module manufacturer that also provides engineering, procurement, and construction services. The company began production in 2016 with a capacity of 125 MW and has grown to 3.80 GW by June 2025. It operates two large facilities in Ambala, Haryana, covering over 724,000 square feet. Saatvik offers a wide range of solar products, including Mono PERC and N-TopCon modules in both mono-facial and bifacial options, designed for residential, commercial, and utility projects. As of June 2025, the company employs 618 people.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Saatvik Green IPO Strength Factors
- Strong Customer Base & Order Visibility – Long-term relationships and repeat orders from reputed clients provide operational stability and predictable revenues.
- Market Leadership in Solar Module Manufacturing – Recognized as a leading player in India, offering integrated manufacturing and EPC solutions to Independent Power Producers, enhancing industry reputation.
- Advanced Technology Adoption – Implementation of Mono PERC and N-TopCon technologies improves efficiency, reduces energy losses, and maintains cost competitiveness.
Saatvik Green IPO Risk Factors
- High Customer Concentration – Top 10 customers accounted for 57.77% (FY25), 63.86% (FY24), and 79.38% (FY23) of revenues; losing any key client could materially affect financial performance.
- Raw Material Price Dependence – Volatility in solar PV cells and other critical inputs may impact margins and overall manufacturing economics.
- Industry-Specific Risks – Exposure to technological changes, intense competition, and supply chain disruptions could adversely affect operations, financial condition, and growth prospects.
Saatvik Green IPO Lead Manager(s)
- Dam Capital Advisors Limited
- Ambit Private Limited
- Motilal Oswal Investment Advisors Limited
Saatvik Green IPO Promoter(s)
- Neelesh Garg
- Manik Garg
- Manavika Garg
- SPG Trust
Saatvik Green IPO FAQs
Saatvik Green Energy Limited IPO subscribed 6.92 times. The public issue subscribed 2.8 times in the retail category,11.41times in QIB, and 11.28 times in the HNI (10+) category byNovember 21, 2025 9:47:44 AM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Saatvik Green IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Saatvik Green IPO FAQs
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The basis of allotment for Saatvik Green Energy Limited IPO is available now.
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