Saatvik Green Energy IPO

Issue period

Opens On: 19 Sep 2025

Closes On: 23 Sep 2025

Price band

₹ 442 to 465 per equity share

Bid lot

32 shares and in multiples thereof

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More about the IPO

Issue size	Rs. 900.00 Cr
Price band	Rs. 442 to 465 per equity share
Bid lot	32 shares and in multiples thereof
Issue break-up	QIB - Rs. 449.00 Cr
	HNI - Rs. 134.70 Cr
	RET - Rs. 314.30 Cr
Registrar	KFin Technologies Ltd.
Listing at	BSE & NSE

Company Details

Saatvik Green Energy Ltd (“the Company”) is among the leading module manufacturers in India in terms of operational solar photovoltaic (“PV”) module manufacturing capacity, with an operational capacity of about 3.80 gigawatt (“GW”) modules as of March 31, 2025. The Company is one of the fastest growing module manufacturing companies in India and have established themselves as a key player in India’s solar energy market.

Since inception, they have supplied more than 2.50 GW high-efficiency solar PV modules domestically and internationally. The Company is recognized as one of the few companies with capabilities in module manufacturing as well as engineering, procurement and construction (“EPC”) and operations and maintenance (“O&M”) services.

It offer EPC services in India and had an installed EPC base of 69.12 MW as of March 31, 2025. They also provide O&M services to customers primarily in relation to the EPC projects undertaken by them. The Company offers a comprehensive portfolio of solar module products that are currently manufactured using technologies that help reduce energy loss and enhance overall efficiency. Their solar energy products include: (i) monocrystalline passive emitter and rear cell (“Mono PERC”) modules; and (ii) N-TopCon solar modules, both types are offered in mono-facial and bifacial options, suitable for various applications, including residential, commercial and utility scale solar projects. The Company manufactures products through the use of M10 technology for Mono PERC modules and M10, G12, M10R and G12R technologies for N-TopCon modules.

The Company have supplied solar modules for various solar installation projects, including floating solar PV modules. Some of key projects over the last few years include the 61.42 MW floating solar power project at Ramagundam, Telangana in Fiscal 2023, which was one of India’s largest floating solar power plants, and the supply of 72.15 MW of solar modules for the Raghanseda Solar Park in Banaskantha district, Gujarat in Fiscal 2023.

Log in to the Mirae Asset Sharekhan app and tap the hamburger menu.
Under the EQUITY dropdown option, tap IPO/OFS/BOND to land on the IPO dashboard.
Click on the Current IPO tab and select the IPO of your choice.
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form.
Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well.
Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.

Note: The actual amount will be debited when the shares are allotted to you.

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

Log in to the Mirae Asset Sharekhan website and click the IPO & OTHERS menu option you see on the top-right.
From the list of Active IPOs, select the IPO of your choice
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.

Note: The actual amount will be debited when the shares are allotted to you.

How does an IPO work?

An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.

Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.

In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.

In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).

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Saatvik Green Energy IPO

Issue period

Price band

Bid lot

More about the IPO

Company Details

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

How does an IPO work?

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