Saatvik Green Energy came to market through an IPO that opened on 19 September 2025 and closed on 23 September 2025, and the shares listed on 26 September 2025 on BSE, NSE. The price band was ₹442 to ₹465 per share and one lot was 32 shares, so the minimum application was ₹14,880. The issue size was ₹900 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Ltd was the registrar to the issue, and Dam Capital Advisors Ltd, Ambit Pvt.Ltd, Motilal Oswal Investment Advisors Ltd were the lead managers.
As of 23 September 2025.
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Incorporated in 2015, Saatvik Green Energy Limited is a module manufacturing company and provides engineering, procurement and construction ("EPC"). Saatvik Green Energy Limited also provide operations and maintenance ("O&M") services to clients mainly in the context of EPC projects. The solar energy products of the company are: (i) monocrystalline passive emitter and rear cell ("Mono PERC") modules;
and (ii) N-TopCon solar modules, both of which are available in mono-facial and bifacial variants for different applications, residential, commercial and utility-scale solar projects, etc. The company produce the products by utilizing M10 technology for our Mono PERC modules and M10, G12, M10R and G12R technologies for our N-TopCon modules.
The company has provided solar modules for some of its solar installation projects, including floating solar PV modules like a solar power project at Ramagundam, Telangana during Fiscal 2023 and solar modules for the Raghanseda Solar Park in Banaskantha district, Gujarat during Fiscal 2023. The company has two module manufacturing facilities located in Ambala, Haryana (collectively, the "Ambala Facilities") covering an aggregate land area of 724,225 square feet.
As of June 30, 2024, the company network consists of 34 selling partners, including 13 resellers, 16 distributors and five channel partners from different states of India.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Saatvik Green Energy mops up over Rs 269 crore via anchor book ahead of Rs 900-crore IPO. Total six domestic institutional investors participated in the anchor book including HDFC Mutual Fund, and Nippon Life India which are the largest investors in the anchor book, buying 20.43 lakh shares through their schemes for nearly Rs 190 crore.
Prashant Jain's 3P Investment Managers-owned 3P India Equity Fund acquired 10.75 lakh shares for nearly Rs 50 crore, while Bandhan Mutual Fund, SBI General Insurance Company, and 360 ONE picked 2.1 lakh shares each for Rs 29.4 crore.
Neelesh Garg, Manik Garg, Manavika Garg, SPG Trust. Promoter holding 90.05% before the issue.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Saatvik Green Energy IPO was a ₹900 crore book-built issue, comprising a fresh issue of ₹700 crore and an offer for sale of ₹200 crore. It was priced at ₹442–₹465 per share with a lot size of 32 shares (₹14,880). The IPO was open from September 19 to September 23, 2025 and was subscribed 6.92x. Shares listed on BSE and NSE on September 26, 2025 at ₹465, in line with the issue price of ₹465.
Kfin Technologies Ltd is the registrar. Dam Capital Advisors Ltd and 2 other book running lead managers manage the issue.
The price band of Saatvik Green Energy IPO is ₹442 to ₹465 per share.
The lot size of Saatvik Green Energy IPO is 32 shares.
The minimum investment for Saatvik Green Energy IPO is approximately ₹14,880 based on the upper price band.
The allotment date of Saatvik Green Energy IPO is Sep 24, 2025.
Saatvik Green Energy IPO's final recorded GMP before listing was ₹7 per share (a 2% premium over the ₹465 upper price band). The shares listed at ₹465. GMP is unofficial and does not forecast or guarantee the actual listing price.
Saatvik Green Energy IPO listed on Sep 26, 2025. It was issued at ₹465.0(NSE) and is currently around ₹366.20 as on 2-Nov-2026 3:30 PM, which is approximately -21.2% versus issue price. The 52-week high is ₹551.80.
You can check Saatvik Green Energy IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Saatvik Green Energy IPO allotment status on Rupix for quick and easy access.
₹442 to ₹465 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 32 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,880.
₹14,880, for one lot of 32 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 19 September 2025 and closed on 23 September 2025.
The basis of allotment was published on 24 September 2025 by Kfin Technologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 26 September 2025 on BSE, NSE.
The issue size was ₹900 crore. The fresh issue was 1,50,53,763 shares (aggregating up to ₹700 crore). The offer for sale was 43,01,075 shares (aggregating up to ₹200 crore).