31 Mar 2023
Assets263.00
Total Income617.63
EBITDA23.87
Profit After Tax4.75
NET Worth20.27
Reserves and Surplus16.89
Total Borrowing144.49
At a glance
Updated 2026-09-10Saatvik Green Energy is a Mainboard IPO with an issue size of ₹900.20 crore, proposed for listing on BSE, NSE. The offer opens on 19th Sep 2025 and closes on 23rd Sep 2025. The issue structure includes a fresh issue of ₹700.20 crore and an offer-for-sale component of ₹200.00 crore. The current listing schedule points to 26th Sep 2025.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹900.20 Cr
Fresh issue₹700.20 Cr
Offer for sale₹200.00 Cr
Face value₹2
Price band₹442.00–₹465.00
Allotment24th Sep 2025
Listing26th Sep 2025
Grey market
GMP page ↗Latest GMP₹10.00
GMP / upper price2.15%
Est. listing₹475.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens19th Sep 2025
Closes23rd Sep 2025
Allotment24th Sep 2025
Refund25th Sep 2025
Demat25th Sep 2025
Listing26th Sep 2025
Subscription demand
Full bidding ↗Total6.92×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 32 | ₹14,880 |
Company
Incorporated2015
Use of proceeds
| Object | Amount |
|---|---|
| Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company | ₹10.82 Cr |
| Investment in the wholly owned Subsidiary, Saatvik Solar Industries Pvt.Ltd., in the form of debt or equity for repayment/prepayment of borrowings, in full or in part, of all or a portion of certain outstanding borrowings availed by such Subsidiary | ₹166.44 Cr |
| Investment in the wholly owned Subsidiary, Saatvik Solar Industries Pvt.Ltd., for setting up of a 4 GW solar PV module manufacturing facility at National Highway-16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam-761 020, Odisha. (Project Site) | ₹477.23 Cr |
| General Corporate Purposes | ₹3.04 Cr |
| Issue Expenses | ₹54.70 Cr |
| Total | ₹712.22 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue2,192.47₹ Cr · +99.8% vs prior year
EBITDA353.93₹ Cr · +125.7% vs prior year
PAT213.93₹ Cr · +112.9% vs prior year
Assets1,635.74₹ Cr · +137.7% vs prior year
Net Worth337.66₹ Cr · +179.8% vs prior year
Borrowing458.10₹ Cr · +73.9% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2024
Assets688.04
Total Income1,097.18
EBITDA156.84
Profit After Tax100.47
NET Worth120.67
Reserves and Surplus117.36
Total Borrowing263.42
31 Mar 2025
Assets1,635.74
Total Income2,192.47
EBITDA353.93
Profit After Tax213.93
NET Worth337.66
Reserves and Surplus315.25
Total Borrowing458.10
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 63.41% |
| ROCE | 60.45% |
| Debt / Equity | 1.36% |
| RoNW | 63.41% |
| PAT Margin | 9.76% |
| EBITDA Margin | 16.40% |
| Price to Book Value | 43.18 |
Valuation & shareholding
Pre-IPO EPS19.09
Post-IPO EPS16.83
Pre-IPO P/E24.35
Post-IPO P/E27.63
Promoter holding pre90.05%
Promoter holding post75.99%
Market cap₹5910.19 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Saatvik Green Energy IPO | — | 27.63 x | — | — |
| Fujiyama Power IPO | — | 25.84 x | — | — |
| Emmvee Photovoltaic IPO | — | 20.01 x | — | — |
| Solarworld Energy IPO | — | 39.48 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company | ₹10.82 Cr |
| Investment in the wholly owned Subsidiary, Saatvik Solar Industries Pvt.Ltd., in the form of debt or equity for repayment/prepayment of borrowings, in full or in part, of all or a portion of certain outstanding borrowings availed by such Subsidiary | ₹166.44 Cr |
| Investment in the wholly owned Subsidiary, Saatvik Solar Industries Pvt.Ltd., for setting up of a 4 GW solar PV module manufacturing facility at National Highway-16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam-761 020, Odisha. (Project Site) | ₹477.23 Cr |
| General Corporate Purposes | ₹3.04 Cr |
| Issue Expenses | ₹54.70 Cr |
| Total | ₹712.22 Cr |
Registrar & lead managers
Registrar
Kfin Technologies Ltd.Lead managers
- Motilal Oswal Investment Advisors...
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-10.
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