Saatvik Green Energy IPO Fully Subscribed 6.93x on Final Day; QIBs Lead Demand

New Delhi, Sep 23, 2025 – The IPO of Saatvik Green Energy Limited closed today with an overwhelming response from investors across all the investor categories. The public issue was oversubscribed by 6.93 times as QIBs provided strong support, and there was robust support from individual as well as HNI investors. The proceeds of the ₹900 crore issue will be utilized for capital expenditure (4 GW solar PV module facility), repayment of subsidiary and parent debt, and meeting general corporate needs.

Final Subscription Status

The issue saw robust participation from QIBs (11.41 times) and Non-Institutional Investors (10.57 times), while retail investors subscribed 2.81 times. Anchor investors fully took their portion, and the employee subscription stood at 5.59 times. In total, bids were placed for over 9.39 crore shares against 1.35 crore offered, aggregating to ₹4,367.18 crore—indicating broad-based investor interest across categories.

Details of the Public Issue

The fresh issue of ₹900 crore has a price band of ₹442-₹465 per share. The lot size is 32 (₹14880 at the upper price band). The issue is set to be listed on the BSE and NSE on September 26, 2025.

Lead Managers and Registrar

The lead managers of the issue are Axis Capital Limited, IIFL Securities Limited and SBI Capital Markets Limited. The registrar of the issue is KFin Technologies Limited.

The company was founded in 2015 and is headquartered in Haryana. The company is a sectoral leader in photovoltaic (PV) module production. It has an installed capacity of 3.2 GW. The IPO proceeds will help in enhancing its production capacity, as an upcoming 4 GW facility is planned in Odisha. The company has a strong presence both domestically and internationally in the sector.

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