Saatvik Green Energy raises ₹269 crore from anchor investors ahead of ₹900 crore IPO

Saatvik Green Energy has raised ₹269.4 crore from anchor investors ahead of its IPO. The company informed the bourses today that it had allocated 57,93,547 equity shares of ₹465 each to anchor investors per equity share (including a share premium of ₹463 per equity share).

The issue is set to open for bidding tomorrow, September 19, and will remain open until Tuesday, September 23. The issue size is ₹900 crore, consisting of a fresh issue of 1.51 crore shares aggregating to ₹700 crore and an offer for sale of 0.43 crore shares aggregating to ₹200 crore.

The IPO price band has been fixed at ₹442 to ₹465 per share. Retail investors can bid for a minimum of 32 shares in one lot and up to 13 lots. At the upper end of the price band, ₹465 per share, the minimum investment required for retail investors would be ₹14,880 per lot.

The IPO proceeds will be used to repay borrowings, invest in its subsidiary Saatvik Solar Industries, and set up a 4 GW solar PV module manufacturing facility.

About Saatvik Green Energy

Established in 2016, the company is among India’s leading solar photovoltaic (PV) module manufacturers, with an operational capacity of about 3.80 gigawatts (GW) as of March 31, 2025. Since inception, it has supplied over 2.50 GW of high-efficiency solar PV modules domestically and internationally.

In addition to manufacturing, the company operates a turnkey EPC (Engineering, Procurement, and Construction) services vertical, providing end-to-end solutions for prominent solar projects.

As part of our EPC portfolio, it commissioned a 12 MW installation for Jindal Steel and Power Limited under its EPC wing in Fiscal 2024, which was recognized as one of the largest single rooftop solar projects.

As of June 30, 2025, the company had a robust domestic order book of about 4.01 GW in solar PV modules. By March 31, 2025, it had successfully executed 12 solar power projects with an aggregate capacity of 69.12 MW.

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