SATTVIK GREEN ENERGY LIMITED
₹ 442 - ₹ 465
19-Sep-2025 - 23-Sep-2025
₹ 14880.00

/ 32 Shares

SATTVIK GREEN ENERGY LIMITED

19-Sep-2025 - 23-Sep-2025

₹ 442 - ₹ 465

Price Band

₹ 14880.00

Minimum Investment

32

Bid Lot

19,359,333

Shares

  • Face Value - ₹ 2/- Per Share

  • Listing at BSE, NSE

  • 211,223 Application Required in Retail for 1 Time.

  • Registrar : KFin Technologies Limited

IPO Details

Category % Shares/Amount
QIB 50% 9,655,913 Shares RS.449.00 CR
HNI 1 5% 965,591 Shares RS.44.90 CR @ 2155 FORM 1X
HNI 2 10% 1,931,183 Shares RS. 89.80 CR @ 4311 FORM 1X
Retail 35% 6,759,140 Shares RS.314.30 CR @ 211223 FORM 1X
Employee 0% 47,506 Shares RS. 2.00 CR

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
211223 FORM 1X 2155 FORM 1X 4311 FORM 1X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 32 ₹ 14,880
Retail (Upto 2 Lakh) 13 416 ₹ 193,440
S-HNI (2 Lakh to 10 Lakh) 14 448 ₹ 208,320
S-HNI (2 Lakh to 10 Lakh) 67 2144 ₹ 996,960
B-HNI (Above 10 Lakh) 68 2176 ₹ 1,011,840

IPO Timeline

  • Open Date

    19-Sep-2025

  • Close Date

    23-Sep-2025

  • Basis of Allotment Date

    24-Sep-2025

  • Initiation of Refunds

    25-Sep-2025

  • Credit Shares to Demat A/c

    25-Sep-2025

  • IPO Listing Date

    25-Sep-2025

About Company

  • The Company was originally incorporated as ‘Saatvik Green Energy Private Limited’ at Chandigarh in May, 2015. Subsequently, on conversion to a public company in September 2024, the name was changed to “Saatvik Green Energy Limited”.
  • Saatvik Green Energy is a solar photovoltaic module manufacturer with an operational capacity of about 3.80 GW as of June 30, 2025. The company’s solar energy products include Mono PERC modules and N-TopCon solar modules, each offered in mono-facial and bifacial options, suitable for various applications and sectors, including residential, commercial, and utility-scale solar projects.
  • The company also provides end-to-end EPC services for ground-mounted & rooftop solar installations, and operations and maintenance services for projects undertaken by the company.
  • The company's key customers include Shree Cement, SJVN Green Energy, Prozeal Green Energy, JSW Neo Energy and Megha Engineering and Infrastructure Pvt. Ltd, among others.
  • The company is included under the Approved List of Models and Manufacturers (“ALMM”) of the Ministry of New and Renewable Energy, which enables it to offer its products to marquee customers.
  • The company has a substantial order book of solar modules, and as of June 30, 2025, its order book was about 4.05 GW.
  • The company operates 3 module manufacturing facilities in Ambala, Haryana, spread across 724,225 square feet, which together form one of the largest single-location module manufacturing facilities in India.
  • The company is expanding its manufacturing capacity by setting up an integrated cell and module facility in Odisha, with a 4.80 GW cell line expected to be operational in FY 2027 and a 4.00 GW module line in FY 2026. Additionally, it plans to establish a facility for ingot, cell, and wafer production in Mohasa–Babai, Madhya Pradesh.
  • The company sells solar PV modules through direct sales to large-scale solar project developers and via distribution networks to smaller customers, including residential and commercial users. It has established a network of 53 selling partners across India, comprising 23 resellers, 19 distributors, and 11 channel partners as of June 30, 2025.
  • The company’s revenue from operations grew from ?608.59 Cr in FY 2023 to ?2,158.39 Cr in FY 2025 at a CAGR of 88.32%. The EBITDA increased from ?23.87 Cr to ?353.93 Cr during the same period, reflecting a CAGR of 285.10%. The restated PAT increased from ?4.75 Cr to ?213.93 Cr during the same period.
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Strengths

Competitive Strength 

  • Quality Customer Base and Large Order Book
  • Among the Leading Module Manufacturing Companies in India Offering Integrated Solutions to Independent Power Producers
  • Innovative Technology Solutions for the Solar Industry
  • Multiple Sales and Revenue Channels
  • Well-Positioned to Capture Favourable Industry Tailwinds
  • Experienced Promoters and management team

 Business Strategies 

  • Backward Integration into Cell Manufacturing
  • Maintain its Position in the Solar Industry and Focus on Growing Share of Export Sales and EPC Services Internationally while expanding Customer Base in India and Internationally
  • Continue to Develop and Reinforce Technology to Manufacture Quality Modules
  • Expand Distribution Network across India and Create Retail Brand for Solar Panels

Company Promoters

Company Financials

Period Ended 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets 1,635.74 688.04 263.00
Total Income 2,192.47 1,097.18 617.63
Profit After Tax 213.93 100.47 4.75
EBITDA 353.93 156.84 23.87
NET Worth 337.66 120.67 20.27
Reserves and Surplus 315.25 117.36 16.89
Total Borrowing 458.10 263.42 144.49
Amount in ? Crore

Objects of the Issue

S.No. Objects of the Issue Expected Amount (? in crores)
1 Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company 10.82
2 Investment in the wholly owned Subsidiary, Saatvik Solar Industries Private Limited, in the form of debt or equity for repayment/prepayment of borrowings, in full or in part, of all or a portion of certain outstanding borrowings availed by such Subsidiary 166.44
3 Investment in the wholly owned Subsidiary, Saatvik Solar Industries Private Limited, for setting up of a 4 GW solar PV module manufacturing facility at National Highway – 16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam – 761 020, Odisha. (“Project Site”) 477.23
4 General corporate purposes

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

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