Saatvik Green ₹900-Crore IPO Opens September 19 for Subscription

Saatvik Green Energy, a prominent player in India’s renewable energy sector, is set to launch its ₹900 crore Initial Public Offering (IPO) on September 19, 2025. This move marks a significant step in the company’s journey, aiming to capitalize on the growing demand for clean energy solutions. The IPO comprises a fresh issue of ₹700 crore and an Offer for Sale (OFS) of ₹200 crore, with a price band ranging from ₹442 to ₹465 per share.

The subscription window will remain open until September 23, 2025, with shares expected to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 26, 2025. Retail investors can apply in multiples of 32 shares, with a minimum investment of ₹14,880.

Company Overview

Established in 2015, Saatvik Green Energy has rapidly ascended to become one of India’s leading solar module manufacturers. Headquartered in Haryana, the company boasts an impressive operational capacity of 1.8 gigawatts (GW) as of June 30, 2024, a significant leap from 125 megawatts (MW) in FY2017. This expansion underscores Saatvik’s commitment to meeting the nation’s escalating clean energy demands.

The company’s product portfolio includes high-efficiency solar photovoltaic (PV) modules and cells, catering to both domestic and international markets. Saatvik’s strategic focus on innovation and quality has earned it a strong reputation among key stakeholders in the renewable energy sector.

Financial Performance

Saatvik Green Energy has demonstrated robust financial growth in recent years. In FY2025, the company reported a revenue of ₹2,192.47 crore, more than doubling from ₹1,097.18 crore in FY2024. Correspondingly, the profit after tax (PAT) surged to ₹213.93 crore from ₹100.47 crore in the previous fiscal year. This upward trajectory reflects the company’s effective scaling of operations and its ability to capitalize on the burgeoning demand for solar energy solutions.

However, it’s noteworthy that the company’s debtor days have increased from 28.1 to 59.3 days, indicating a potential slowdown in receivables. Investors should consider this aspect when evaluating the company’s operational efficiency.

IPO Details and Investor Insights

Issue Structure

• Fresh Issue: ₹700 crore
• Offer for Sale (OFS): ₹200 crore
• Price Band: ₹442 – ₹465 per share
• Lot Size: 32 shares
• Minimum Investment: ₹14,880
• Listing Date: September 26, 2025
• Listing Exchanges: BSE and NSE

Grey Market Premium (GMP)

As of September 18, 2025, the IPO is trading at a grey market premium (GMP) of ₹78, suggesting a potential listing gain of approximately 17% over the upper end of the price band. This positive sentiment indicates strong investor interest and confidence in the company’s market debut.

Use of IPO Proceeds

The funds raised through the IPO are earmarked for:

• Capacity Expansion: Enhancing manufacturing capabilities to meet growing demand.
• Equipment Upgrades: Investing in advanced technology to improve efficiency.
• Working Capital Requirements: Ensuring smooth operational continuity.

These strategic allocations aim to bolster Saatvik’s position in the competitive renewable energy market.

Investor Sentiment and Market Outlook

The renewable energy sector has garnered significant attention from both retail and institutional investors, driven by India’s ambitious clean energy targets and favorable government policies. Analysts project a compounded annual growth rate (CAGR) of over 20% for the solar energy industry in the coming years, positioning companies like Saatvik Green Energy for sustained growth.

Investor enthusiasm is further reflected in the IPO’s grey market performance, indicating a strong appetite for shares. However, potential investors should remain cognizant of factors such as the company’s increasing debtor days and the competitive landscape, which could impact future performance.

Conclusion

Saatvik Green Energy’s ₹900 crore IPO presents a compelling opportunity for investors seeking exposure to India’s burgeoning renewable energy sector. The company’s robust financial performance, strategic use of IPO proceeds, and positive market sentiment underscore its growth potential. However, prospective investors should conduct thorough due diligence, considering both the opportunities and risks associated with the investment. As the subscription window opens on September 19, 2025, investors are encouraged to assess their investment objectives and risk tolerance before participating in the IPO.

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This content is for informational purposes only and is not financial advice. Always conduct your research.