Saatvik Green Energy IPO Day 1: Subscribed 0.57x; Employee and Retail Interest Strong

New Delhi, 19 September 2025: The ₹900 crore IPO of Saatvik Green Energy Limited opened with cautious optimism, closing Day 1 at 0.56 times subscription. While institutional interest remained subdued, robust participation from retail investors and employees provided a strong foundation for the coming days.

Subscription Status on Day 1

By the end of day one, the overall subscription of the IPO stood at 0.56×. Retail individual investors showed strong appetite, bidding nearly their full allotment, while the employee category witnessed robust demand, closing in oversubscription. Qualified Institutional Buyers remained muted, whereas Non-Institutional Investors displayed moderate interest, with better traction in the lower bid ranges.

IPO Structure and Pricing

The ₹900 crore public issue consists entirely of a fresh equity share offering. The price band has been fixed between ₹442 and ₹465 per share, with a lot size of 32 shares, amounting to ₹14,880 at the upper band. The issue will remain open for subscription until 23 September, with shares scheduled to list on the BSE and NSE on 26 September. Axis Capital, IIFL Securities, and SBI Capital Markets are the lead managers, while KFin Technologies serves as the registrar.

Future Outlook

The IPO opened to a cautious yet positive response, buoyed by strong participation from employees and retail investors. In the coming days, subscription trends among Qualified Institutional Buyers and Non-Institutional Investors will be key in shaping the final outcome. With steady demand, encouraging grey market signals, and India’s increasing focus on renewable energy, Saatvik Green Energy’s IPO could attract further interest before the issue closes.

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