Saatvik Green Energy IPO Opens On September 19; Price Band Fixed at ₹442–465

New Delhi, September 16, 2025: The Initial Public Offering (IPO) of Haryana-based solar panel maker Saatvik Green Energy is set to open on September 19, 2025. The company has set a price band of ₹442-465 for the ₹900 crore IPO, with a top end valuation of around ₹5,910 crore.

Saatvik Green Energy is an Indian solar photovoltaic module manufacturer with an operational capacity of about 3.8 GW as of June 30, 2025. The company also offers end-to-end EPC services, including ground-mounted and rooftop solar installations. The company was established on 28th May 2015 and has its headquarters in Ambala, Haryana, India.

A Combination of Fresh Issue and Offer-For-Sale

The company is looking to raise ₹900 crore from the IPO. The issue includes a fresh issue of ₹700 crore (1.51 crore shares) and offer-for-sale of ₹200 crore (0.43 crore shares). Saatvik Green Energy IPO window will remain open till September 23, with the allotment expected on September 24. The shares of the company are expected to list on BSE and NSE on September 26, 2025. ‘

The lot size for the issue is 32 shares, amounting to a minimum investment by a retail investor of ₹14,880, at the upper price band. Dam Capital Advisors Ltd. is the book running lead manager while Kfin Technologies Ltd. is the registrar of the issue.

Investment in Subsidiary Main Motive Behind Fund Raising

The company will utilise ₹477.23 crore for investing in its subsidiary Saatvik Solar Industries Pvt Ltd to set up a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park, Odisha. It will use ₹166.44 crore for repayment or prepayment of borrowings at the subsidiary level, while ₹10.82 crore will be used for debt repayment at the parent level. The company will use the remaining balance for general corporate purposes.

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