Saatvik Green Energy IPO is a book-built issue IPO, aiming to raise ₹900.00 crore. It comprises a fresh issue of 1.51 crore equity shares aggregating to ₹700.00 crore and an offer for sale of 0.43 crore equity shares amounting to ₹200.00 crore. The bidding window was open from September 19, 2025, to September 23, 2025, with the IPO allotment to be finalised on September 24, 2025. Saatvik Green Energy is scheduled to list on BSE and NSE on September 26, 2025.
The IPO was priced at ₹442-₹465 per share with a lot size of 32 shares. The public issue received bids for 9,39,17,792 shares against 1,35,61,291 shares available, resulting in an overall subscription of 6.93 times. Qualified Institutional Buyers led the response, subscribing 11.41 times their quota, followed by Non-Institutional Investors at 10.57 times and retail investors at 2.81 times.
Saatvik Green Energy’s ₹900.00 crore IPO, priced at ₹442-₹465 per share, was subscribed 6.93 times overall. The IPO is a fresh issue of 1.51 crore equity shares aggregating to ₹700.00 crore and an offer for sale of 0.43 crore equity shares amounting to ₹200.00 crore.
Bidding took place from September 19 to September 23, 2025, with the Saatvik Green Energy IPO allotment status on September 24, 2025. Retail investors subscribed 2.81 times and NIIs 10.57 times. Listing is expected on September 26, 2025.
The table below breaks down the Saatvik Green Energy share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB Shares Offered | 96,53,666 (49.88%) |
| − Anchor Investor Shares Offered | 57,93,547 (29.93%) |
| − QIB (Ex. Anchor) Shares Offered | 38,60,119 (19.94%) |
| NII (HNI) Shares Offered | 28,96,100 (14.96%) |
| − bNII > ₹10L | 19,30,733 (9.98%) |
| − sNII < ₹10L | 9,65,367 (4.99%) |
| Retail Shares Offered | 67,57,566 (34.91%) |
| Employee Shares Offered | 47,506 (0.25%) |
| Total Shares Offered | 1,93,54,838 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 11.41 |
| Non-Institutional Investors | 10.57 |
| Retail Individual Investors | 2.81 |
| Employees | 5.59 |
| Total shares | 6.93 |
Note: The subscription details are as of September 23, 2025
Saatvik Green Energy Limited, incorporated in 2015, is engaged in the manufacturing of solar modules and also provides engineering, procurement, and construction (EPC) solutions. The company offers a portfolio of Mono PERC and N-TopCon solar modules, available in mono-facial and bifacial options, catering to residential, commercial, and utility-scale projects.
The company commenced manufacturing operations in 2016 with an annual installed capacity of 125 MW. By June 30, 2025, it had expanded its capacity to 3.80 GW. Saatvik operates two large module manufacturing facilities located in Ambala, Haryana, spread across 724,225 square feet.
Its customer base includes independent power producers and project developers, with multiple sales channels driving growth. Supported by favourable government policies and demand for renewable energy, Saatvik has positioned itself among the leading solar module manufacturers in India.
As of June 30, 2025, the company employed 618 full-time staff, compared with 566 in March 2025, reflecting its operational expansion. Its strengths lie in innovative solar technology, a large order book, and the ability to capture industry tailwinds, especially under the China+1 strategy and government anti-dumping measures.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Sep 23, 2025, 9:44 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
