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Saatvik Green Energy IPO Opens Today: Should You Apply? Check GMP, Size, Price, Review
Saatvik Green Energy IPO Opens Today: Should You Apply? Check GMP, Size, Price, Review
Saatvik Green Energy IPO GMP Today: Solar panel maker Saatvik Green Energy on Friday opened its initial public offering (IPO) to raise Rs 900 crore. The public bidding of the IPO will continue for three days till September 23, and the company has already mobilised Rs 269 crore from anchor investors. Also, in half an hour on the first day of public bidding (till 10:20 am), the mainboard IPO received 5 per cent subscription, garnering bids for 6,47,360 shares as against the 1,35,61,291 shares on offer.
The price band of the IPO, whose premium in the grey market (GMP) stands at nearly 14% currently, has been fixed at Rs 442 to Rs 465 apiece.
Saatvik Green Energy IPO Key Dates
The IPO will remain open for public subscription between September 19 (Friday) and September 23 (Tuesday). Its allotment will be finalised on September 24 (Wednesday), while its listing will take place on both BSE and NSE on September 26 (Friday).
Saatvik Green Energy IPO Lot Size & Price
The price band of the IPO has been fixed at Rs 442 to Rs 465 apiece. Its lot size has been fixed at 32 shares. It means that investors will have to apply for a minimum 32 shares and in multiple thereof. So, retail investors will require a minimum investment of Rs 14,880 (at upper price band) to apply for the IPO.
Saatvik Green Energy IPO GMP Today
According to market observers, unlisted shares of Saatvik Green Energy Ltd are currently trading at Rs 530. It means a GMP (grey market premium) of Rs 65 or nearly 14% over the upper IPO price of Rs 465. It indicates a mild listing gain for investors on September 26.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium' indicates investors' readiness to pay more than the issue price.
Saatvik Green Energy IPO: Should You Apply?
Brokerages are broadly positive on Saatvik Green Energy's maiden public issue.
SBI Securities has given a ‘Subscribe' rating, highlighting the company's rapid growth trajectory. Saatvik's revenue, EBITDA, and profit after tax (PAT) posted stellar compound annual growth rates (CAGR) of 88 per cent, 365 per cent, and 572 per cent, respectively, between FY23 and FY25. The brokerage noted that the company is building an integrated cell and module facility in Odisha, with 4.8 GW of cell production capacity targeted by FY27 and 4 GW of module production capacity by FY26.
“At the upper price band of Rs 465, Saatvik Green Energy is valued at FY25 P/E multiple of 27.6x based on its post-issue capital," it said.
Another brokerage Arihant Capital has recommended ‘Subscribe for long term', pointing to Saatvik's diversified client base across utility, commercial, industrial, and export markets. The company's top five customers, including JSW Neo Energy, Shree Cement, and SJVN Green Energy, contributed 44 per cent of FY25 revenues.
“Key strengths include its integrated solar photovoltaic module manufacturing and EPC capabilities, strong order book, established relationships with large domestic and global customers, and presence across India, North America, Africa, and South Asia," Arihant said in its IPO note.
At the upper end of the price band, the brokerage firm pegs valuations at 27.6 times FY25 earnings per share (EPS) of Rs 16.8.
Saatvik Green Energy IPO: More Details
The company's maiden public offering is a combination of a fresh issue of shares worth Rs 700 crore and an offer for sale (OFS) of Rs 200 crore by promoters.
Proceeds from the fresh issue worth Rs 477.23 crore will be invested in Saatvik Solar Industries Private Limited for setting up a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park in Odisha, and Rs 166.44 crore will be infused into the subsidiary for repayment or prepayment of its outstanding borrowings.
Additionally, the company will use around Rs 10.82 crore to repay certain borrowings at the parent level, while the remaining funds will be set aside for general corporate purposes.
Saatvik Green Energy is a solar photovoltaic module manufacturer with an operational capacity of about 3.8 GW as of June 30, 2025. The company provides end-to-end engineering, procurement and construction services for solar projects, including ground-mounted solar installations and rooftop solar installations.
Dam Capital Advisors, Ambit, and Motilal Oswal Investment Advisors are the book-running lead managers to the issue. Shares of the company are expected to be listed on September 26 on the bourses.
Source: News18
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