Saatvik Green Energy
Open
Open
IPO Closes in
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IPO Timeline
Issue open date
19 Sep 2025Issue close date
23 Sep 2025UPI mandate deadline
23 Sep 2025Allotment finalization
24 Sep 2025Refund initiation
25 Sep 2025Share credit
25 Sep 2025Listing date
26 Sep 2025Mandate end date
8 Oct 2025Lock-in end date for anchor investors (50%)
24 Oct 2025Lock-in end date for anchor investors (remaining)
24 Dec 2025Grey Market Premium Trend
₹26
Current GMP
₹491
Est. Listing Price
5.6%
Est. Listing Gain
₹442 - ₹465
Price Band
GMP History
| Date | GMP (₹) | Est. Listing Price (₹) | Est. Listing Gain |
|---|---|---|---|
| 19 Sep | ₹26 | ₹491 | 5.59% |
| 18 Sep | ₹32 | ₹497 | 6.88% |
| 17 Sep | ₹65 | ₹530 | 13.98% |
| 16 Sep | ₹78 | ₹543 | 16.77% |
| 15 Sep | ₹71 | ₹536 | 15.27% |
IPO Closes in
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💸
IPO Subscription Status
| Category | Times | Allotment Chances |
|---|---|---|
| HNIs (Total) | 0.67 | 100% |
| bHNI | 0.45 | 100% |
| sHNI | 1.11 | 90.1% |
| QIBs | 0.01 | 100% |
| Retail | 0.9 | 100% |
| Employees | 2 | 50.0% |
Last updated: 19 September'25 11:13AM
Key Dates
Open
19 Sep 2025Close
23 Sep 2025Listing
26 Sep 2025Quick Stats
Issue Size:900cr
Lot Size:32 shares
Issue Details
Issue Size:900cr
Offer for Sale:43,01,075 Shares
Face Value:₹2
Listing At:BSE, NSE
Additional Resources
About the Company
Founded in 2015, Saatvik Green Energy is a leading Indian solar PV module manufacturer based in Ambala, Haryana. It specialises in high-efficiency Mono PERC and N-Type TOPCon modules for IPPs, EPC contractors, and commercial clients in India and select global markets. With a current capacity of 3.2 GW, the company is expanding with a 4.0 GW Odisha plant and a 4.8 GW cell line, aiming for full backward integration. Supported by strong customer ties, government incentives, and experienced leadership, it is well-positioned in India’s growing renewable energy sector.
Strengths
- Established customer base with a strong and diversified order book.
- Among India’s leading module manufacturers with integrated IPP offerings.
- Known for innovation and technology-driven solar solutions.
- Well-positioned to capitalise on favourable industry dynamics.
- Backed by strong promoters and seasoned leadership team.
Risks
- Mono PERC modules constitute up to 87% of operational income.
- Odisha manufacturing project is vulnerable to delays and cost escalations.
- Significant dependence on Chinese imports for critical raw materials.
- Global supply glut is exerting downward pressure on solar module pricing.
- Only 10 top customers contribute to 80% of the total revenue.
Saatvik Green Energy IPO – Frequently Asked Questions
- The price band for the Saatvik Green Energy IPO is set at ₹442 to ₹465 per share.
- The Saatvik Green Energy IPO opens on September 19, 2025 and closes on September 23, 2025.
- The tentative listing date for the Saatvik Green Energy IPO is September 26, 2025.
- You can apply for the Saatvik Green Energy IPO via your broker or bank using ASBA or UPI. Log in to your trading app (Zerodha, Upstox, Groww, etc.), select IPO section, choose Saatvik Green Energy, enter lot quantity and UPI ID, then approve the mandate.
- The lot size for the Saatvik Green Energy IPO is 32 shares. Investors must apply for at least one lot (i.e., 32 shares).