Saatvik Green Energy IPO Details
| IPO Open Date | September 19, 2025 |
| IPO Close Date | September 23, 2025 |
| Face Value | ₹2 Per Equity Share |
| IPO Price Band | ₹442 to ₹465 Per Share |
| Issue Size | Approx ₹900 Crores |
| Fresh Issue | Approx ₹700 Crores |
| Offer for Sale: | Approx 43,01,075 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Saatvik Green Energy IPO Review & Key Points
- Review: May Apply
Saatvik Green Energy IPO Market Lot
The Saatvik Green Energy IPO minimum market lot is 32 shares with ₹14,880 application amount. The retail investors can apply up-to 13 lots with 416 shares of ₹1,93,440 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 32 | ₹14,880 |
| Retail Maximum | 13 | 416 | ₹1,93,440 |
| S-HNI Minimum | 14 | 448 | ₹2,08,320 |
| S-HNI Maximum | 67 | 2,144 | ₹9,96,960 |
| B-HNI Minimum | 68 | 2,176 | ₹10,11,840 |
IPO Reservation
| Investor Category | Share Offered | % Shares |
| QIB Shares Offered | 38,60,119 Shares | 50% |
| NII Shares Offered | 28,96,100 Shares | 21.36% |
| Retail Shares Offered | 67,57,566 Shares | 49.83% |
| Employee Shares Offered | 47,506 Shares | 0.35% |
Saatvik Green Energy IPO Anchor Investors
| Anchor Bidding Date | September 18, 2025 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | October 24, 2025 |
| lock-in period end date 50% shares (90 Days) | December 23, 2025 |
Saatvik Green Energy IPO Dates
The Saatvik Green Energy IPO date is September 19 and the close date is September 23. The Saatvik Green Energy IPO allotment will be finalized on September 24 and the IPO listing on September 26.
| IPO Open Date: | September 19, 2025 |
| IPO Close Date: | September 23, 2025 |
| Basis of Allotment: | September 24, 2025 |
| Refunds: | September 25, 2025 |
| Credit to Demat Account: | September 25, 2025 |
| IPO Listing Date: | September 26, 2025 |
| IPO Bidding Cut-off Time: | September 23, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Neelesh Garg, Manik Garg, Manavika Garg and SPG Trust.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 11,20,47,000 | 90.05% |
| Promoter Holding Post Issue | 12,71,00,763 | 79.38% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores | % |
| Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company | 10.82 | -% |
| Investment in the wholly owned Subsidiary, Saatvik Solar Industries Private Limited, in the form of debt or equity for repayment/prepayment of borrowings, in full or in part, of all or a portion of certain outstanding borrowings availed by such Subsidiary | 166.44 | -% |
| Investment in the wholly owned Subsidiary, Saatvik Solar Industries Private Limited, for setting up of a 4 GW solar PV module manufacturing facility at National Highway – 16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam – 761 020, Odisha. (“Project Site”) | 477.23 | -% |
| General corporate purposes | – | -% |
About Saatvik Green Energy IPO
One of the top solar PV module manufacturers in India, “ Saatvik Green Energy,” was incorporated in 2015, and is a module manufacturer in India in terms of operational solar photovoltaic (“PV”) module manufacturing capacity, with an operational capacity of about 3.80 gigawatt (“GW”) modules as of February 28, 2025. The company is included in one of the few companies which has the capabilities in module manufacturing as well as engineering, procurement, and construction. The company started manufacturing in 2016. By March 31, 2017, its capacity was 125 MW, and by February 28, 2025, it had grown to 3.80 GW.
The company is providing a turnkey EPC service, engineering, procurement, and construction support for major solar projects from scratch.
Highlighted Projects of Saatvik Green Energy:
One of the biggest projects of Saatvik Green Energy: in 2024, the company completed 12 12 MW solar installation for Jindal Steel and Power Limited through their EPC services.
In addition, a 16 MW ground-mounted installation has also been done by Saatvik Green Energy for Dalmia Bharat Green Vision Limited in Sattur, Tamil Nadu, India in Fiscal 2024.
The firm has also built an 8.08 MW ground-mounted solar project for Dalmia Cement (Bharat) Limited in Belgaum, Karnataka, in Fiscal 2024.
Saatvik Green Energy IPO Company Financial Report
The company reported revenue of ₹2,192.47 crores in 2025 against ₹1,097.18 crores in 2024. The company reported profit of ₹213.93 crores in 2025 against profit of ₹100.47 crores in 2024.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹617.63 | ₹610.96 | ₹4.75 | ₹263.00 |
| 2024 | ₹1,097.18 | ₹965.31 | ₹100.47 | ₹688.04 |
| 2025 | ₹2,192.47 | ₹1,912.85 | ₹213.93 | ₹1,635.74 |
Saatvik Green Energy IPO Valuation – FY2025
Check Saatvik Green Energy IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 63.41% |
| ROCE: | 60.45% |
| EBITDA Margin: | 16.40% |
| PAT Margin: | 9.76% |
| Debt to equity ratio: | 1.36 |
| Earning Per Share (EPS): | ₹19.09 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 63.41% |
| Net Asset Value (NAV): | ₹30.14 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Waaree Energies Limited | 68.24 | 55.02 | 19.48% | 158.13 | 14,444.50 Cr. |
| Premier Energies Limited | 21.35 | 49.96 | 33.14% | 15.33 | 6,518.75 Cr. |
IPO Lead Managers aka Merchant Bankers
- Dam Capital Advisors Ltd.
- Ambit Pvt.Ltd.
- Motilal Oswal Investment Advisors Ltd.
Company Address
Saatvik Green Energy Ltd.
Vill. Dubli,
V.P.O
Bihta Tehsil, ,
Ambala, Haryana, 133101
Phone: 0124-3626755
Email: [email protected]
Website: https://saatvikgroup.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://ipostatus.kfintech.com/
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One Response
Excellent Co. Peer group shares are quoted at high PE of 50.High Hope for long term investment.