Saatvik Green Energy Secures ₹269 Crore from Anchor Investors Ahead of ₹900 Crore IPO – EQ
In Short : Saatvik Green Energy raised ₹269.4 crore from anchor investors ahead of its ₹900 crore IPO, including prominent institutions like HDFC Mutual Fund and SBI General Insurance. The IPO, open from September 19–23, 2025, aims to fund debt repayment and expand its solar PV module manufacturing capacity, including a 4 GW plant in Odisha, positioning the company as a major solar sector player.
In Detail : Saatvik Green Energy has secured ₹269.4 crore from anchor investors ahead of its ₹900 crore Initial Public Offering (IPO). The anchor book includes prominent institutional investors such as HDFC Mutual Fund, Nippon India Mutual Fund, Bandhan Mutual Fund, and SBI General Insurance Company, signaling strong market confidence in the company’s growth potential.
The IPO opened on September 19, 2025, and is scheduled to close on September 23, 2025. The price band for the shares is set between ₹442 and ₹465 each, offering investors an opportunity to participate in Saatvik’s expansion plans and solar energy growth story.
The issue comprises a fresh issue of 1.51 crore shares aggregating to ₹700 crore and an offer for sale of 43.5 lakh shares aggregating to ₹200 crore. The capital raised will support both expansion and strategic financial initiatives of the company.
Proceeds from the IPO are primarily intended for debt repayment and enhancing Saatvik Green Energy’s solar photovoltaic (PV) module manufacturing capabilities. A significant portion will be allocated to establish a 4 GW solar PV module manufacturing plant at Gopalpur Industrial Park in Odisha.
On the first day of bidding, the IPO was subscribed 59%, with the retail portion booked 0.88 times, non-institutional investors (NII) at 0.67 times, and qualified institutional buyers (QIB) at 0.01 times. This initial response indicates moderate investor interest across categories.
The grey market premium (GMP) for the IPO was ₹38, suggesting an expected listing price of ₹503 per share. This reflects approximately an 8.17% premium over the upper end of the issue price band, indicating positive market sentiment ahead of listing.
Saatvik Green Energy, established in 2015, operates as a solar PV module manufacturer and EPC (engineering, procurement, and construction) provider. The company is listed in the Ministry of New and Renewable Energy’s Approved List of Module Manufacturers (ALMM), reflecting regulatory recognition and credibility.
The company has shown strong financial performance, with revenue increasing by 98.4% to ₹2,158.4 crore in FY25 compared to ₹1,088 crore the previous year. Profit after tax (PAT) also rose sharply by 113% to ₹213.9 crore, demonstrating robust growth and operational efficiency.
The new 4 GW manufacturing plant in Odisha is expected to more than double Saatvik Green Energy’s capacity from 3,742 MW to over 7,700 MW. This expansion will position the company as a significant player in India’s solar energy sector, supporting its long-term growth and market leadership ambitions
