India’s solar industry has seen massive growth in recent years, with the target of capacity of 500 GW non-fossil fuel energy goal by 2030. This rising demand for clean energy is creating big opportunities for companies in the sector.
Saatvik Energy is now coming out with a ₹900 crore IPO, priced at ₹442–₹465 per share with a lot size of 32 shares. Investors are closely watching updates on its GMP, allotment, and listing date, which we will discuss ahead.
Saatvik Energy IPO Details
Now, let’s look at the important Saatvik Energy IPO review figures, including issue size, price band, lot size, and listing information that investors need to be aware of:
| IPO opening date | 19th Sep 2025 |
| IPO closing date | 23rd Sep 2025 |
| Face value | ₹2 per equity share |
| Price band | ₹442–₹465 per share |
| Issue price | ₹465 per share |
| IPO lot size | 32 shares |
| Sale type | Fresh Capital-cum-Offer for Sale |
| Offer for sale | Approx. 0.43 crore equity shares |
| Fresh issue | Approx. ₹700.00 Cr |
| Issue type | Book Built Issue |
| Listing at | Proposed listing on NSE and BSE |
| Total issue size | 1,93,54,838 shares (aggregating up to ₹900.00 Cr) |
| Reserved for market maker | Undisclosed |
| Net offeree to public | Undisclosed |
| Minimum investment | ₹14,880 |
| Retail discount | Undisclosed |
Saatvik Energy IPO Timeline
The Saatvik Energy IPO timeline shows all the important dates such as:
| IPO open date | 19 September 2025 |
| IPO close date | 23 September 2025 |
| Provisional allotment | 24 September 2025 |
| Refund initiation | 25 September 2025 |
| Transfer of shares into demat | 25 September 2025 |
| Provisional listing date | 26 September 2025 |
| Discontinuation date for UPI request validation | 23 September 2025, 5 PM |
Saatvik Energy IPO Grey Market Premium (GMP Today)
The grey trading premium (GMP) provides an early clue of investor sentiment prior to listing. The latest Saatvik Energy IPO GMP today is as follows:
| Date | GMP (₹) | Estimated listing price |
| 23 Sept 2025 (1:30 pm) | ₹8 | ₹473 |
Saatvik Energy IPO Reservation
The share allocation criteria across investor categories details for the IPO appear as given:
| Market maker shares offered | Undisclosed |
| QIB shares offered | 96,53,666 (49.88%) |
| NII (HNI) shares offered | 28,96,100 (14.96%) |
| Retail shares offered | 67,57,566 (34.91%) |
| Total shares offered | 1,93,54,838 shares |
Jain Resource Recycling Key Performance Indicator
Below are the core financial performance indicators of Saatvik Energy over the last three fiscal years, showing profitability, leverage, and efficiency trends:
| Indicator | FY23 | FY24 | FY25 |
| ROE | 23.40% | 83.21% | 63.41% |
| ROCE | 24.80% | 64.07% | 60.45% |
| Debt/Equity | 7.13 | 2.18 | 1.36 |
| RoNW | 23.40% | 83.21% | 63.41% |
| PAT Margin | 0.77% | 9.16% | 9.76% |
| EBITDA Margin | 3.92% | 14.42% | 16.40% |
| Price-to-Book Value (P/B) | Not disclosed | Not disclosed | Not disclosed |
| NAV per share | ₹1.81 | ₹10.77 | ₹30.14 |
Saatvik Energy IPO Financials
Here are the key financial figures of Saatvik Energy, showing revenue growth, asset base, and profit after tax across recent years:
| (in millions ₹) | 2023 | 2024 | 2025 |
| Revenue | ₹6,085.88 | ₹10,879.65 | ₹21,583.94 |
| Total asset | ₹2,629.99 | ₹6,880.38 | ₹16,357.44 |
| Profit after tax | ₹47.45 | ₹1,004.72 | ₹2,139.30 |
Saatvik Energy IPO Lot Size
The table below outlines the minimum and maximum bid amounts for different investor categories in the Saatvik Energy IPO:
| Investor category | Minimum application | Maximum application |
| Individual investors (Retail) | 1 lot (32 shares, ₹14,880) | 13 lot (416 shares, ₹1,93,440) |
| S-HNI | 14 lot (448 shares, ₹2,08,320) | 67 lot (2,144 shares, ₹9,96,960) |
| B-HNI | 68 lot (2,176 shares, ₹10,11,840) | Not specified |
Saatvik Energy IPO Promoter Holding
The snapshot of Saatvik Energy’s promoter
shareholding before and after the IPO include the following:
| Percentage | |
| Promoter Holding Pre-Issue | 90.05% |
| Promoter Holding Post-Issue | Not disclosed |
Saatvik Energy IPO Anchor Investors Details
The following table provides an overview of anchor investor participation and lock-in timelines for the IPO:
| Bid date | 18 September 2025 |
| Shares Offered | 57,93,547 |
| Anchor Portion Size (In Cr.) | 269.40 |
| Anchor lock-in timeline end point for 50% holdings (30 Days) | 24 October 2025 |
| Anchor lock-in timeline end point for pending shares (90 Days) | 23 December 2025 |
Saatvik Energy IPO Subscription Status
The subscription status for the Saatvik Energy IPO is now live. Investors can track how the daily figures below:
| Day 1 | 0.62 times |
| Day 2 | 1.15 times |
| Day 3 | 3.42 times |
Saatvik Energy IPO Prospectus
The Saatvik Energy IPO prospectus is an official document filed with the exchanges for investor reference. Here are the prospectus documents to view:
About Saatvik Energy IPO
Saatvik Green Energy, established in 2015 and part of the Saatvik Group, is led by Managing Director Prashant Mathur, Based in Ambala, Haryana, it manufactures advanced MonoPERC, Bifacial, and N-TopCon solar PV modules, with a production capacity of 4.8 GW annually.
Saatvik offers EPC services such as design, procurement, construction, and project commissioning along with DC solar pumps for agriculture and industry, remote monitoring, and strong warranties. Serving both domestic and international markets, the company is expanding into integrated cell and module manufacturing, including new facilities in Odisha. Saatvik emphasizes rigorous quality control, innovation, and reliable renewable energy solutions.
Objectives of the Saatvik Energy IPO
Saatvik Green Energy plans to allocate the IPO proceeds across the following purposes:
| Purpose | Allocation (₹ in Cr.) |
| Loan repayment (partial/full) of certain borrowings | 10.82 |
| Investment in subsidiary (Saatvik Solar Industries Pvt. Ltd.) for debt/equity infusion towards repayment of its borrowings | 166.44 |
| Funding subsidiary toward creating up a 4 GW solar PV production unit inside Gopalpur Industrial Park, Odisha. | 477.23 |
| General corporate purposes | Balance amount |
Strength Of Saatvik Energy IPO
Saatvik’s growth story and business model bring several positives for potential investors:
- Saatvik Green Energy has shown steady financial expansion, with a remarkable 88% CAGR in turnover across FY23 and FY25. The company’s earnings after tax rose sharply during this phase, reflecting solid operational capability and profitability.
- The company possesses integrated solar photovoltaic (PV) module manufacturing capabilities and also offers Engineering, Procurement, and Construction (EPC) services, providing an end-to-end solution in the solar energy sector.
- With an established presence across India and expanding into international markets like North America and Africa, Saatvik has built strong relationships with a diverse range of large domestic and global customers. This geographical and client diversification mitigates concentration risk and opens up multiple avenues for growth.
Risk of Saatvik Energy IPO
At the same time, there are important risks investors should weigh before subscribing:
- The solar energy industry is highly competitive and subject to rapid technological advancements. A failure to innovate and adapt to new technologies could impact Saatvik’s market position and profitability.
- The company’s performance is significantly dependent on government policies, subsidies, and regulations related to renewable energy. Any adverse changes in these policies could negatively affect the demand for solar products and services.
- A considerable portion of revenue is derived from a limited number of large customers. The exit of any important clients might cause a significant negative impact on the company’s fiscal standing and outcomes of operations. The business also faces risks related to the successful and timely execution of its large-scale projects.
FAQs
The Saatvik Energy IPO is a ₹900 crore public offering by Saatvik Green Energy, including fresh capital and an offer for sale. It is priced at ₹442–₹465 per share, with a lot size of 32 shares. The IPO is proposed for listing on NSE and BSE.
Investors can apply for the Saatvik Energy IPO through Zerodha using the Zerodha Console. You just need to simply login , select the IPO under the IPO selection ,choose the bid price, and quantity, complete the UPI mandate and submit the application before the closing date.
The Saatvik Energy IPO opened for subscription on 19 Sep, 2025. Investors ensure their demat and UPI accounts are ready before this date. Applications must be submitted before the closing date that is 23rd Sep, 2025 to participate in the subscription process.
The Saatvik Energy IPO has a lot size of 32 shares per application. The minimum investment depends on the issue price, currently ₹465 per share, meaning the minimum bid amounts to ₹14,880 for retail investors. Multiple lots can be applied for based on investor category limits.
Investors can apply online via brokerage platforms like Zerodha or offline through other platforms such as Groww, etc. Enter the desired number of lots, set the bid price, complete payment via UPI, and submit before the IPO closing date. Ensure the application aligns with investor category limits.
The provisional allotment for the Saatvik Energy IPO is scheduled for 24 September 2025. Investors can check allotment status through their broker’s portal or the registrar’s website. Refunds for unsuccessful bids are initiated the following day, 25 September 2025.
The Saatvik Energy IPO is expected to be listed on 26 September 2025 on NSE and BSE. Once listed, shares can be traded on the stock exchanges at market-determined prices, which may reflect the grey market premium and overall demand sentiment.
