Saatvik Green Energy Ltd IPO
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Saatvik Green Energy Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 193.55 L | ₹ 43.01 L | TBA | ₹ 1,008.93 L | DBC | ₹ 900 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 19 Sep, 25 | 23 Sep, 25 | 32 | ₹ 14,144 | Book Building | 26 Sep, 25 |
Saatvik Green Energy Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Electric Equipment |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 0 | 0 |
| NII | 0x | 0 | 0 |
| Retail | 0x | 0 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 19354838 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Saatvik Green Energy Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 1,087.97 | 608.59 | 10.74 |
| EBITDA | 155.58 | 19.91 | 13.21 |
| PAT | 100.28 | 4.76 | 5.96 |
| Total Assets | 535.84 | 221.08 | 198.93 |
| Share Capital | 3.38 | 3.38 | 3.38 |
| Total Borrowings | 310.26 | 166.72 | 142.76 |
| Operating Activities (Net Cash) | 110.92 | 11.38 | 8.43 |
| Investing Activities (Net Cash) | 8.80 | 0.00 | 0.00 |
| Financing Activities (Net Cash) | 310.26 | 166.72 | 142.76 |
| Net Cashflow | 14.57 | 11.20 | 0.16 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Saatvik Green Energy Ltd
Our Company was incorporated as `Saatvik Green Energy Private Limited', a private limited company under the provisions of the Companies Act, 2013, pursuant to a certificate of incorporation dated May 29, 2015, issued by the Registrar of Companies, Chandigarh. Our Company was subsequently converted from a private company to a public company, pursuant to resolutions passed by our Board on September 20, 2024 and by our Shareholders dated September 21, 2024, consequent to which its name was changed to Saatvik Green Energy Limited, and a fresh certificate of incorporation consequent upon conversion to public limited company was issued by the RoC on October 3, 2024.
Renewable energy installations (including large hydro) have increased to approximately 233 GW as of June 2025 as compared to approximately 123 GW as of March 2019, with solar power accounting for approximately 116 GW as of June 2025. In Fiscal 2025, approximately 24 GW of solar capacity additions were registered and crossed 100 GW in total installed capacity. India has the potential to support 750 GW of solar energy installations and has been offering several incentives and schemes to encourage the development of solar power plants.
We are a solar photovoltaic module manufacturer with an operational capacity of about 3.80 GW as of June 30, 2025. Our solar energy products include Mono PERC modules and N-TopCon solar modules, each offered in mono-facial and bifacial options, suitable for various applications and sectors, including residential, commercial and utility scale solar projects. We also provide end-to-end engineering, procurement and construction services for solar projects, which include ground-mounted solar installations and rooftop solar installations, and we provide operations and maintenance services to customers in relation to such projects undertaken by us.
Peer Comparison:
- Waaree Energies Ltd
- Premier Energies Ltd
Saatvik Green Energy Ltd IPO Key Points
Strengths
- Quality Customer Base and Large Order Book.
- Among the Leading Module Manufacturing Companies in India Offering Integrated Solutions to Independent Power Producers.
- Innovative Technology Solutions for the Solar Industry.
- Multiple Sales and Revenue Channels.
- Well-Positioned to Capture Favourable Industry Tailwinds.
Risk
- There are risks associated with solar module manufacturing. If such risks materialize, our business, financial condition and results of operations, among others, could be adversely affected.
- Our business is dependent on certain key customers, and our top 10 customers contributed 57.77%, 63.86% and 79.38% of our revenue from operations in Fiscals 2025, 2024 and 2023, respectively. The loss of revenue from any of these customers could have a material adverse effect on our business, financial condition, results of operations and cash flows.
- Changes in the price of solar PV cells and other raw materials could adversely affect our manufacturing of solar PV modules.
Strategy
- Backward Integration into Cell Manufacturing.
- Maintain Our Position in the Solar Industry and Focus on Growing Share of Export Sales and EPC Services Internationally while expanding Customer Base in India and Internationally.
- Continue to Develop and Reinforce Technology to Manufacture Quality Modules.
- Expand Distribution Network across India and Create Retail Brand for Solar Panels.
- Quality Customer Base and Large Order Book.
- Among the Leading Module Manufacturing Companies in India Offering Integrated Solutions to Independent Power Producers.
- Innovative Technology Solutions for the Solar Industry.
- Multiple Sales and Revenue Channels.
- Well-Positioned to Capture Favourable Industry Tailwinds.
How To Apply for Saatvik Green Energy Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
