Saatvik Green Energy Limited IPO Subscription Closed – Complete Analysis & Review 2025
Saatvik Green Energy Limited IPO
closed
Founded in 2015, Saatvik Green Energy is a leading Indian solar PV module manufacturer based in Ambala, Haryana. It specializes in high-efficiency Mono PERC and N-Type TOPCon modules for IPPs, EPC contractors, and commercial clients in India and select global markets. With a current capacity of 3.2 GW, the company is expanding with a 4.0 GW Odisha plant and a 4.8 GW cell line, aiming for full backward integration. Supported by strong customer ties, government incentives, and experienced leadership, it is well-positioned in India’s growing renewable energy sector.
Key IPO Details
The price band of 442-465 and a minimum lot size of 32 shares help investors estimate their capital needs for participating in the Saatvik Green Energy Limited IPO.
Business Overview
Founded in 2015, Saatvik Green Energy is a leading Indian solar PV module manufacturer based in Ambala, Haryana. The company specializes in high-efficiency Mono PERC and N-Type TOPCon modules for IPPs, EPC contractors, and commercial clients in India and select global markets.
With a current capacity of 3.2 GW, Saatvik Green Energy is expanding with a 4.0 GW Odisha plant and a 4.8 GW cell line, aiming for full backward integration. The company is well-positioned in India’s growing renewable energy sector with strong customer ties, government incentives, and experienced leadership.
Industry Context & Investment Thesis
Saatvik Green Energy’s focus on high-efficiency solar modules aligns with broader sustainability and circular economy themes. The company’s expansion plans, supported by a 4.0 GW Odisha plant and a 4.8 GW cell line, could contribute to the growth of renewable energy in India and global markets.
IPO Schedule & Key Dates
Timelines are crucial for planning UPI applications, tracking allotment status, and setting expectations for the listing date.
| Event | Date |
|---|---|
| Issue open date | 2025-09-19 |
| Issue close date | 2025-09-23 |
| UPI mandate deadline | 2025-09-23 |
| Allotment finalization | 2025-09-24 |
| Refund initiation | 2025-09-25 |
| Share credit | 2025-09-25 |
| Listing date | 2025-09-26 |
| Mandate end date | 2025-10-08 |
| Lock-in end date for anchor investors (50%) | 2025-10-24 |
| Lock-in end date for anchor investors (remaining) | 2025-12-24 |
Investors are advised to check mandates and allotment status as per the dates provided.
How to Apply for Saatvik Green Energy Limited IPO
Investors can apply for the Saatvik Green Energy Limited IPO through UPI-enabled broker apps or ASBA via their bank. The process is simple and involves following the IPO application guidelines provided by the respective platform.
- Ensure you have a UPI ID ready for the application process.
- Verify your bank account details for ASBA applications.
- Double-check the application window to avoid missing the deadline.
Key Strengths
- Established customer base with a strong and diversified order book.
- Among India’s leading module manufacturers with integrated IPP offerings.
- Known for innovation and technology-driven solar solutions.
- Well-positioned to capitalize on favorable industry dynamics.
- Backed by strong promoters and seasoned leadership team.
Saatvik Green Energy’s strengths, including its established customer base, innovative solutions, and strong leadership, may appeal to long-term investors and those focused on sustainability and technology-driven ventures.
Key Risks
- Mono PERC modules constitute up to 87% of operational income.
- Odisha manufacturing project is vulnerable to delays and cost escalations.
- Significant dependence on Chinese imports for critical raw materials.
- Global supply glut is exerting downward pressure on solar module pricing.
- Only 10 top customers contribute to 80% of the total revenue.
Investors should consider the risks associated with Saatvik Green Energy, such as operational dependencies and market volatility, before making investment decisions.
Who Should Consider This IPO?
Investors with an interest in sustainable energy solutions and a tolerance for market risks may find Saatvik Green Energy Limited IPO suitable for their portfolio. Those seeking exposure to the renewable energy sector and innovative technology ventures may also consider this opportunity.
Frequently Asked Questions
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This is for information only; consult a licensed financial advisor before investing.
