Saatvik Green Energy Limited has announced the launch of its Initial Public Offering (IPO), which will open for public subscription on Friday, September 19, 2025, and close on Tuesday, September 23, 2025. The Anchor Investor bidding will take place a day earlier, on September 18, 2025.
The IPO comprises a total offer size of up to ₹900 crore, including a fresh issue worth ₹700 crore and an Offer for Sale (OFS) of shares worth ₹200 crore by the promoter selling shareholders. The OFS includes equity shares aggregating up to ₹1,120 million from Parmod Kumar and ₹880 million from Sunila Garg.
The price band for the offer has been fixed at ₹442 to ₹465 per share, with eligible employees entitled to a discount of ₹44 per share. Investors can bid for a minimum of 32 shares and in multiples thereafter.
The company intends to utilize the net proceeds from the fresh issue to prepay or repay certain borrowings, invest in its wholly owned subsidiary Saatvik Solar Industries Private Limited, and finance the setting up of a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park, Odisha. Remaining funds will be allocated for general corporate purposes.
The IPO is being managed by DAM Capital Advisors Limited, Ambit Private Limited, and Motilal Oswal Investment Advisors Limited, acting as the Book Running Lead Managers. The equity shares will be listed on both BSE and NSE.
The offer is being made under the Book Building Process in compliance with SEBI ICDR Regulations. As per the allocation structure, not more than 50% of the net offer will be reserved for Qualified Institutional Buyers (QIBs), with up to 60% of this portion available for Anchor Investors. At least 15% will be allocated to Non-Institutional Bidders and not less than 35% to Retail Investors. Additionally, shares worth up to ₹20 million are reserved for eligible employees.
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