The green energy push on Dalal Street is gathering momentum. The latest to join the list – Saatvik Green Energy, a solar module manufacturer, is set to hit the markets with its Rs 900 crore IPO on September 19.
The offer will remain open for bidding until September 23. With the listing planned on both the NSE and BSE on September 26, let’s take a look at the five big details every investor should keep in mind before subscribing.
Saatvik Green Energy IPO: Structure and price band
Saatvik Green Energy’s public issue is a mix of fresh equity worth Rs 700 crore and an offer for sale (OFS) of Rs 200 crore. This takes the total fundraise to Rs 900 crore.
The price band has been fixed at Rs 442-465 per share. At the upper end, retail investors will need a minimum of Rs 14,880 to apply for one lot of 32 shares.
Saatvik Green Energy IPO: GMP trend
Ahead of the opening of the issue tomorrow, the share price of the company in the unofficial market is trading at a premium of Rs 78 per share. This as of now indicates an estimated listing price of Rs 543. This is nearly 17% higher over the upper price band of Rs 465.
However GMP is not the official listing price as it is unofficial and fluctuates based on market conditions.
Saatvik Green Energy IPO: Fresh issue Vs OFS
The IPO will issue 1.51 crore new shares to raise growth capital, while promoters are also offloading part of their stake.
According to the RHP, Parmod Kumar is selling up to 56% of the OFS portion, while Sunila Garg is offering the remaining 44%. This promoter sale aggregates to Rs 200 crore.
Saatvik Green Energy IPO: Investor participation and lot sizes
For retail bidders, one lot of 32 shares will cost at least Rs 14,880 at the upper end of the price band. Non-institutional investors have higher entry points, with small NIIs (sNII) required to apply for 14 lots (448 shares) worth Rs 2.08 lakh, while big NIIs (bNII) need to put in 68 lots (2,176 shares) worth over Rs 10 lakh.
Saatvik Green Energy IPO: Timeline and lead managers
The bidding will close on September 23, with allotment likely on September 24, . The stock is expected to list on September 26.
Dam Capital Advisors is the lead manager of the issue, while Kfin Technologies is acting as the registrar.
Saatvik Green Energy: Business dynamics
The company was founded in 2015. Saatvik Green Energy started operations the following year with a modest 125 MW capacity.
Over the years, it has scaled up, with current installed capacity reaching around 3.8 GW as of June 2025. The company operates both as a solar module manufacturer and an EPC solutions provider.