The IPO opens on September 19, 2025 and closes on September 23, 2025. Shares are planned to be listed on BSE and NSE.
Key IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | September 19, 2025 |
| IPO Close Date | September 23, 2025 |
| Listing Date | September 26, 2025 |
| Face Value | ₹2 per equity share |
| Price Band | ₹442 to ₹465 per share |
| Issue Size | Approx. ₹900 Crores |
| Fresh Issue | Approx. ₹700 Crores |
| Offer for Sale | Approx. 43,01,075 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| Retail Quota | Up to 35% |
| QIB Quota | Up to 50% |
| NII (HNI) Quota | Up to 15% |
Market Lot Information
| Category | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 32 | 14,880 |
| Retail Maximum | 13 | 416 | 1,93,440 |
| S-HNI Minimum | 14 | 448 | 2,08,320 |
| S-HNI Maximum | 67 | 2,144 | 9,96,960 |
| B-HNI Minimum | 68 | 2,176 | 10,11,840 |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Opening | September 19, 2025 |
| IPO Closing | September 23, 2025 |
| Basis of Allotment | September 24, 2025 |
| Refund Initiation | September 25, 2025 |
| Demat Credit | September 25, 2025 |
| Listing Date | September 26, 2025 |
Promoters
- Neelesh Garg
- Manik Garg
- Manavika Garg
- SPG Trust
About the Company
Saatvik Green Energy is one of India’s top solar PV module manufacturers, incorporated in 2015, with an operational capacity of about 3.80 GW modules as of February 28, 2025. The company provides turnkey EPC services, including engineering, procurement, and construction support for major solar projects. It started manufacturing in 2016 and has rapidly expanded both capacity and project portfolio, serving clients like Jindal Steel & Power, Dalmia Bharat, and Dalmia Cement.
- Completed 12 MW solar installation for Jindal Steel and Power Limited (2024)
- 16 MW ground-mounted installation for Dalmia Bharat Green Vision Limited (2024)
- 8.08 MW ground-mounted solar project for Dalmia Cement (Bharat) Limited (2024)
Financial Performance
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 617.63 | 610.96 | 4.75 | 263.00 |
| 2024 | 1,097.18 | 965.31 | 100.47 | 688.04 |
| 2025 | 2,192.47 | 1,912.85 | 213.93 | 1,635.74 |
Key Financial Ratios (FY2025)
| KPI | Value |
|---|---|
| ROE | 63.41% |
| ROCE | 60.45% |
| EBITDA Margin | 16.40% |
| PAT Margin | 9.76% |
| Debt to Equity Ratio | 1.36 |
| EPS (Basic) | ₹19.09 |
| P/E Ratio | N/A |
| RoNW | 63.41% |
| Net Asset Value (NAV) | ₹30.14 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Waaree Energies Limited | 68.24 | 55.02 | 19.48% | 158.13 | 14,444.50 Cr. |
| Premier Energies Limited | 21.35 | 49.96 | 33.14% | 15.33 | 6,518.75 Cr. |
Purpose of the IPO
- Prepayment or scheduled re-payment of borrowings
- Investment in subsidiary for debt/equity repayment
- Setting up of 4 GW solar PV module manufacturing facility in Odisha
- General Corporate Purpose
Registrar & Contact Details
Registrar:
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: saatvik.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Lead Managers:
Dam Capital Advisors Ltd.
Ambit Pvt.Ltd.
Motilal Oswal Investment Advisors Ltd.
Company Address:
Saatvik Green Energy Ltd.
Vill. Dubli, V.P.O Bihta Tehsil, Ambala, Haryana, 133101
Phone: 0124-3626755
Email: investors@saatvikgroup.com
Website: https://saatvikgroup.com/
Reviews
Rasiklal T Shah (Sep 18, 2025): Excellent Co. Peer group shares are quoted at high PE of 50.High Hope for long term investment.