Saatvik Green Energy IPO Booked Over 5 Times So Far, Check GMP And Other Key Details

Saatvik Green Energy IPO GMP: Saatvik Green Energy IPO (Saatvik Green Energy Ltd) is scheduled to close on September 23. Investors have booked Saatvik Green Energy IPO more than 3.15 times within the three days of bidding. The engineering procurement and construction provider’s issue has received bids for over 44.9 million shares so far against the 14.27 million shares offered for subscription.

Saatvik Green Energy IPO GMP

According to various websites that monitor the movement of unlisted shares, Saatvik Green Energy shares command a grey market premium (GMP) ranging between Rs 8 and Rs 19 per share. Based on the GMP of Rs 19, Saatvik Green Energy shares are likely to make a strong debut with a premium of 4 per cent at Rs 484 per share.

Saatvik Green Energy IPO: Subscription On Day 3

Non-Institutional Investors are driving the demand for Saatvik Green Energy shares as the issue has been booked 4.18 times in the NII category so far. NIIs have placed bids for 12.73 million shares of the solar EPC services provider against the 3.04 million shares reserved for subscription.

Saatvik Green Energy IPO has been booked 2.17 times by retail individual investors (RIIs) so far. RIIs placed bids for 15.45 million shares compared to the 7.11 million shares reserved for the retail category.

Qualified institutional buyers (QIBs) have applied for 16.47 million shares of Saatvik Green Energy so far on the last day of bidding against the 4.06 million shares reserved for the category, booking the issue 4.05 times.

Employees of Saatvik Green Energy placed bids for 2,30,848 shares, compared to the 50,251 shares offered for subscription to the category. Employees have booked the Saatvik Green Energy IPO 4.59 times.

Saatvik Green Energy IPO: Issue Size and Price Band

Saatvik Green Energy Ltd is worth Rs 900 crore. The public issue consists of a fresh issuance of 15.1 million shares along with an offer-for-sale of 4.3 million shares.

The Saatvik Green Energy IPO price band was set at Rs 442 to Rs 465 per share. RIIs can bid for the IPO by placing bids for a minimum of 32 shares, which aggregates to an investment of Rs 14,880.

Saatvik Green Energy IPO: Allotment Date, Listing Date

Saatvik Green Energy IPO opened for subscription on September 19. The bidding window is scheduled to close on September 23. The share allotment status of Saatvik Green Energy IPO will be announced on September 24. Subsequently, the solar EPC company will issue refunds for unsuccessful applicants on September 25. Saatvik Green Energy Ltd shares are scheduled to list on the bourses on September 26.

Saatvik Green Energy: Financials

Saatvik Green Energy’s total income for FY25 declined to Rs 2192.47 crore, slipping by over 99 per cent from Rs 1097.18 crore in FY24. The solar EPC company’s profit-after-tax increased by over 112 per cent to Rs 213.93 crore in FY25 compared to Rs 100.47 crore in the preceding fiscal.

Saatvik Green Energy IPO: Registrar

Saatvik Green Energy IPO’s book running lead manager is Dam Capital Advisors Ltd., and the registrar for the issue is Kfin Technologies Ltd.

Saatvik Green Energy: Promoters

Neelesh Garg, Manik Garg, Manavika Garg and SPG Trust the promoters of the company. The promoters of Saatvik Green Energy held 90.05 per cent stake in the company prior to the issue.

Saatvik Green Energy IPO: Objective

Saatvik Green Energy aims to use the proceeds of the public issue for prepayment or scheduled repayment of its borrowings. Additionally, a portion of the proceeds will also be used for investment in the company’s wholly owned subsidiary. The company will also set up a 4 GW solar photovoltaic module manufacturing facility in Odisha.

About Saatvik Green Energy Ltd

Saatvik Green Energy Ltd was incorporated in 2015. The company is a maker of modules and offers engineering, procurement and construction (EPC) services to its clients. Saatvik Green Energy’s annual installed capacity is 3.8 GW as of June 30, 2025.