Saatvik Green Energy IPO Opens Tomorrow: Check GMP, Price Band, Lot Size And More
The Rs 900-crore mainboard IPO will remain open for subscription from September 19 to September 23.
Saatvik Green Energy Ltd. is set to launch its initial public offering (IPO) on September 19. The company manufactures solar modules and also provides engineering, procurement and construction (EPC) services.
With the subscription date approaching, here’s a look at the grey market premium (GMP), price band, important dates and other key details of the Saatvik Green Energy IPO.
Saatvik Green Energy IPO GMP Today
The grey market premium (GMP) for the Saatvik Green Energy IPO stood at Rs 78 as of 10:55 am on September 18. Considering the upper end of the IPO’s price band of Rs 465, the stock’s estimated listing price is Rs 543 (cap price plus the current GMP), implying a potential gain of around 16.77% per share.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Saatvik Green Energy IPO Key Details
Saatvik Green Energy Ltd. aims to raise Rs 900 crore through the IPO. The book-building issue includes a fresh issuance of 1.51 crore shares, worth Rs 700 crore, and an offer-for-sale (OFS) component of 43 lakh shares, amounting to Rs 200 crore.
The price band for Saatvik Green Energy IPO has been set between Rs 442 and Rs 465 per share.
Retail investors can apply for a minimum of 32 shares (one lot), which requires an investment of Rs 14,880 at the upper end of the price band. For small non-institutional investors (sNII), the minimum bid is 14 lots or 448 shares, amounting to Rs 2,08,320. Big non-institutional investors (bNII) must bid for at least 68 lots or 2,176 shares, translating to an investment of Rs 10,11,840.
Dam Capital Advisors Ltd. is serving as the book-running lead manager for the IPO, while Kfin Technologies Ltd. has been appointed as the registrar of the issue.
Saatvik Green Energy IPO Important Dates
The Saatvik Green Energy IPO’s bidding period ends on September 23. The tentative allotment of shares is scheduled for September 24. This will be followed by the initiation of refunds on September 25. The company will also transfer shares to the Demat accounts of the allottees on the same day.
The company’s shares are tentatively scheduled to be listed on the BSE and NSE on September 26.
Saatvik Green Energy Business And Financials
Saatvik Green Energy Ltd. was incorporated in 2015. The company offers a wide range of solar module products, manufactured using technologies designed to minimise energy loss and improve overall efficiency. The company began its manufacturing operations in 2016. Saatvik Green Energy operates two module manufacturing facilities in Ambala, Haryana.
Use Of Proceeds
Saatvik Green Energy Ltd. plans to use the proceeds from the IPO to repay some of its existing borrowings. A portion will be invested in its subsidiary, Saatvik Solar Industries, to help clear the subsidiary’s outstanding loans. Funds will also be used to set up a new 4 GW solar module manufacturing facility in Odisha. The remaining money will be used for general corporate purposes.
Financials
Saatvik Green Energy Ltd.’s revenue doubled between the financial years ending March 31, 2024, and March 31, 2025, rising from Rs 1,097.18 crore to Rs 2,192.47 crore, respectively. Profit after tax (PAT) also grew significantly, increasing from Rs 100.47 crore in FY24 to Rs 213.93 crore in FY25
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
