About Saatvik Green Energy:
The company is a solar photovoltaic module manufacturer with an operational capacity of approximately 3.80 GW as of June 30, 2025. Its product portfolio includes Mono PERC and N-TopCon solar modules, available in mono-facial and bifacial variants, catering to residential, commercial, and utility-scale projects. Additionally, the company offers end-to-end EPC services, including ground-mounted and rooftop solar installations, along with operations and maintenance support. In India, its listed peers with similar offerings include Premier Energies Limited and Waaree Energies Limited, enabling industry benchmarking of key performance indicators.
About the Industry in which Saatvik Green Energy operates:
As of June 2025, renewable energy installations in India, including large hydro, reached approximately 233 GW, up from 123 GW in March 2019. Solar power contributed around 116 GW, with nearly 24 GW of new solar capacity added in Fiscal 2025, taking total installed capacity beyond 100 GW. With a potential of supporting 750 GW of solar energy, India continues to promote solar development through various incentives and government schemes, underscoring its commitment to renewable energy expansion and sustainability goals.
| Important Information and Timelines of the IPO of Saatvik Green Energy: | |
|---|---|
| Open Date | 19 September 2025 |
| Close Date | 23 September 2025 |
| Total Issue Size – Number of Shares | 19354838 |
| Minimum Bid Price | 442 |
| Maximum Bid Price | 465 |
| Lot Size | 32 |
| Basis of Allotment | 24 September 2025 |
| Initiation of Refunds and Credit of Shares to Demat | 25 September 2025 |
| Listing Date | 26 September 2025 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Saatvik Green Energy:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 32 | 14880 |
| Retail – Maximum | 13 | 416 | 193440 |
| sHNI – Minimum | 14 | 448 | 208320 |
| sHNI – Maximum | 67 | 2144 | 996960 |
| bHNI – Minimum | 68 | 2176 | 1011840 |
Objective of the IPO of Saatvik Green Energy:
The objectives of the Offer are:
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Prepayment or scheduled repayment, in full or in part, of certain outstanding borrowings availed by the company.
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Investment in wholly owned subsidiary, Saatvik Solar Industries Private Limited, in the form of debt or equity for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the subsidiary.
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Investment in wholly owned subsidiary, Saatvik Solar Industries Private Limited, for setting up a 4 GW solar PV module manufacturing facility at National Highway–16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam – 761020, Odisha (“Project Site”).
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General corporate purposes.
Financials of Saatvik Green Energy:
| Particulars | Fiscal 2025 (Consolidated) | Fiscal 2024 (Consolidated) | Fiscal 2023 (Consolidated) |
|---|---|---|---|
| Equity share capital (₹ million) | 224.10 | 33.80 | 33.80 |
| Net Worth (₹ million) | 3,376.59 | 1,206.73 | 202.73 |
| Total Income (₹ million) | 21,924.65 | 10,971.81 | 6,176.27 |
| Revenue from Operations (₹ million) | 21,583.94 | 10,879.65 | 6,085.88 |
| Restated Profit for the year (₹ million) | 2,139.30 | 1,004.72 | 47.45 |
| Restated EPS – Basic (₹) | 19.09 | 8.96 | 0.42 |
| Restated EPS – Diluted (₹) | 19.07 | 8.96 | 0.42 |
| Restated NAV per Equity Share – Basic (₹) | 30.14 | 10.77 | 1.81 |
| Restated NAV per Equity Share – Diluted (₹) | 30.11 | 10.77 | 1.81 |
| Total borrowings (₹ million) | 4,580.96 | 2,634.20 | 1,444.92 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Saatvik Green Energy. You will receive a UPI mandate after 10:00 AM on 19 September 2025.
###1. How to apply for the IPO of Saatvik Green Energy on Dhan?
You can apply for the IPO of Saatvik Green Energy from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Saatvik Green Energy be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 25 September 2025. However, you will be able to see the shares of Saatvik Green Energy on Dhan before the market starts on the listing date which is 26 September 2025.