Saatvik Green Energy IPO closed on September 23, 2025, with mild investor interest as compared to its peer GK Energy IPO. The issue was subscribed to 6.51 times overall. The renewable energy player attracted healthy demand across categories: the retail quota was subscribed 2.60 times, the QIB category (excluding anchor) saw 10.56 times bids, and the NII portion was booked 10.27 times.
Saatvik Green Energy IPO GMP and Listing Gains
According to InvestorGain data, the Saatvik Green Energy IPO GMP is not very attractive, as the grey market premium stood at Rs. 9 as of September 23, 2:36 PM. This means the investor who secures the allotments of shares will receive a 1.94% profit from this issue whose price band is capped at Rs. 465 per share. Saatvik Green Energy shares are expected to list at Rs. 474 per share.
Issue Size and IPO Details
The Saatvik Green Energy IPO is a Rs. 900 crore book-built issue, consisting of a fresh issue of Rs. 700 crore (1.51 crore shares) and an offer for sale (OFS) of Rs. 200 crore (0.43 crore shares). The bidding window opened on September 19th and closed today, September 23rd. The IPO price band was fixed between Rs. 442 and Rs. 465 per share.
Ahead of the subscription window, the company successfully raised Rs. 269.40 crore from anchor investors on September 18.
Saatvik Green Energy IPO Allotment and Listing Date
The Saatvik Green Energy IPO allotment status will be finalised on September 24, while the shares are scheduled to list on BSE and NSE on Friday, September 26.
What Do the Brokerages Say About This Issue?
Canara Bank Securities has given a “Subscribe” recommendation on the Saatvik Green Energy IPO, citing both listing gains and long-term investment potential.
The brokerage said, “The company is strategically expanding its presence by first enhancing solar module capacity, then moving into cell manufacturing, and eventually into raw material integration. While the benefits of backward integration will take time to reflect.
Meanwhile, Deven Choksey’s research also maintained a “Subscribe” rating, pointing to the company’s strong growth track record and operational scale.
“Since inception, Saatvik Green Energy has delivered over 2.5 GW of solar modules to both domestic and international customers. Its wide distribution network of 53 selling partners (including resellers, distributors, and channel partners) has supported strong revenue growth,” the report mentioned.
About Saatvik Green Energy Ltd.
Founded in 2015, Saatvik Green Energy Ltd. is among India’s leading integrated solar photovoltaic (PV) module manufacturers and renewable energy solution providers. With a manufacturing base in Ambala, Haryana, the company has built an annual production capacity of around 4.8 GW as of mid-2025.
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Story first published: Tuesday, September 23, 2025, 16:34 [IST]
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