Saatvik Green Energy IPO Subscription Status

The Saatvik Green Energy IPO witnessed a moderate response on its first day of bidding, reaching a subscription level of 0.62 times as of 5:00 PM on 19 September 2025.

• Qualified Institutional Buyers (QIB): 0.01x
• Non-Institutional Investors (NII): 0.70x
• Retail Individual Investors (RII): 0.93x

By market close, the company had received bids for 84,59,808 shares against the total offer size of 1,35,61,291 shares.

• Day 1 Overall Subscription: 0.62x

About Saatvik Green Energy Limited

Saatvik Green Energy, incorporated in 2015, is one of India’s leading solar photovoltaic (PV) module manufacturers, with a strong track record in both manufacturing and turnkey engineering, procurement, and construction (EPC) solutions.

• Manufacturing Growth: Production began in 2016 with a capacity of 125 MW, which expanded steadily to reach 3.80 gigawatts (GW) of operational module manufacturing capacity by 28 February 2025. This places Saatvik among a select group of Indian firms capable of providing integrated module manufacturing and EPC services.
• Comprehensive EPC Services: The company offers complete project solutions—covering engineering design, procurement of equipment, construction, and commissioning—for large-scale solar projects across the country.

Key Projects and Milestones

Saatvik Green Energy has delivered several notable solar installations in recent years:

• 2024 – Jindal Steel and Power Limited: Completed a 12 MW solar installation through its turnkey EPC services.
• Fiscal 2024 – Dalmia Bharat Green Vision Ltd: Executed a 16 MW ground-mounted solar project in Sattur, Tamil Nadu.
• Fiscal 2024 – Dalmia Cement (Bharat) Ltd: Built an 8.08 MW ground-mounted solar plant in Belgaum, Karnataka.
• The company also continues to develop additional utility-scale projects across India to strengthen its market share in the renewable energy sector.

Financial Performance

• FY 2025 Revenue: ₹2,192.47 crore (up from ₹1,097.18 crore in FY 2024)
• FY 2025 Net Profit: ₹213.93 crore (vs. ₹100.47 crore in FY 2024)
• This strong double-digit growth reflects robust demand for solar modules and increased adoption of renewable energy projects across India.

Grey Market Premium (GMP)

As of Friday, 19 September 2025, the Saatvik Green Energy IPO Grey Market Premium (GMP) stood at ₹66. This suggests that the IPO shares are trading at approximately ₹531 in the unofficial grey market—indicating a ₹66 premium over the issue price of ₹465.