Flat Debut! Saatvik Green Energy share price lists at ₹465 on NSE, same as IPO price

Saatvik Green Energy IPO Listing: Saatvik Green Energy share price made a muted debut in the Indian stock market today, September 26. Saatvik Green Energy share price listed on Friday at ₹465 apiece on the NSE, same as its issue price of ₹465. Meanwhile, on BSE, it listed at ₹460, down 1.07 per cent from the issue price.

The Saatvik Green Energy IPO underperformed Street expectations, as seen from the grey market premium (GMP). The GMP for the IPO stood at ₹10 per share, which indicated a likely listing price of around ₹475 — translating to a premium of 2.15 per cent over the upper end of the issue price band.

Saatvik Green Energy IPO Details

Saatvik Green Energy made a debut on the BSE and NSE on September 26, 2025, following the successful completion of its initial public offering (IPO). The public issue was open for subscription from September 19 to 23, with allotments finalised on September 24.

The ₹900 crore IPO, consisting of a fresh issue of ₹700 crore and an offer for sale (OFS) of ₹200 crore by promoters, received strong investor interest and was subscribed 6.57 times by the close of bidding. At the upper price band, the Haryana-based company was valued at ₹5,910 crore. Retail investors could apply in lots of 32 shares, translating to a minimum investment of ₹14,880.

The issue saw strong demand across all investor categories. Qualified Institutional Buyers (QIBs) led with subscription at 10.84 times their allocation, non-institutional investors followed at 10.04 times, and retail investors subscribed 2.66 times.

Proceeds from the fresh issue, totaling ₹477.23 crore, are earmarked for investment in its subsidiary, Saatvik Solar Industries Private Limited, to establish a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park in Odisha. Additionally, ₹166.44 crore will be utilised for repayment or prepayment of borrowings by the subsidiary, and ₹10.82 crore will go toward reducing certain borrowings at the parent level. The balance funds are intended for general corporate purposes.

DAM Capital Advisors, Ambit, and Motilal Oswal Investment Advisors served as the book-running lead managers for the IPO.

About Saatvik Green

Saatvik Green Energy is a prominent solar photovoltaic module manufacturer, with an operational capacity of nearly 3.8 GW as of June 30, 2025. The company also offers comprehensive engineering, procurement, and construction (EPC) services for solar projects, including both ground-mounted and rooftop installations. Peers include Waaree Energies and Premier Energies, as per RHP.

On the financial front, Saatvik Green Energy has demonstrated strong growth in recent years. The company’s profit more than doubled, rising 113 per cent to ₹213.9 crore in FY25, compared to ₹100.5 crore in the previous fiscal year. During the same period, revenue surged 98.4 per cent to ₹2,158.4 crore, up from ₹1,088 crore.

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