Saatvik Green Energy IPO opens today: Should you subscribe?
Saatvik Green Energy's IPO just opened for subscription today, with shares priced at ₹442-465 each (lot size: 32).
The company is looking to raise ₹900 crore—₹700 crore as fresh funds and ₹200 crore via promoter share sale.
The offer closes on September 23 and the stock lists September 26.
Solar panel manufacturer
Started in 2015 in Ambala, Saatvik makes high-efficiency solar panels—think Mono PERC and N-Type TOPCon modules, both monofacial and bifacial.
Right now, it can produce up to 3.8 GW a year, and big expansions are underway with a new plant in Odisha and a new cell line for more control over manufacturing.
Financials and other details
Anchor investors like HDFC Mutual Fund have already put in ₹269 crore at the top price band.
Most of the IPO money will go toward building the Odisha plant (₹477 crore), paying down subsidiary debt (₹166 crore), and clearing some parent loans (₹11 crore).
At its highest price, Saatvik is valued at 27.6 times its FY25 earnings per share—actually lower than many of its industry peers.