**Saatvik Green Energy’s ₹900 Crore IPO Now Open: Should You Bid?**
*By Mudit Dube | Sep 19, 2025, 02:10 PM*
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**Overview of the IPO**
Saatvik Green Energy, a leading manufacturer of solar panels, has launched its initial public offering (IPO) today. The IPO is priced in the range of ₹442 to ₹465 per share and will remain open until September 23, 2025. The issue consists of a fresh issue of shares worth ₹700 crore along with an offer for sale (OFS) by promoters worth ₹200 crore, totaling ₹900 crore.
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**Use of Funds**
The fresh issue proceeds of ₹477.23 crore will be utilized to establish a 4GW solar photovoltaic (PV) module manufacturing facility at the Gopalpur Industrial Park in Odisha. Additionally, ₹166.44 crore will be invested in the company’s subsidiary to repay or prepay existing borrowings.
Saatvik Green Energy also plans to use around ₹10.82 crore to repay certain borrowings at the parent company level. The remainder of the funds will be allocated for general corporate purposes.
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**Investor Support**
Ahead of the IPO, Saatvik Green Energy successfully raised over ₹269 crore from anchor investors by allotting 57.93 lakh shares at the upper price band of ₹465 per share. Notable anchor investors include HDFC Mutual Fund, Nippon India Mutual Fund, Bandhan Mutual Fund, and SBI General Insurance Company. This robust backing from prominent institutional investors indicates strong confidence in the company’s future growth prospects.
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**Company Profile**
As of March 31, 2025, Saatvik Green Energy has an operational capacity of approximately 3.8GW. The company has supplied over 2.5GW of high-efficiency solar modules across domestic and export markets.
Saatvik Green Energy is well-regarded for its integrated module manufacturing capabilities, along with comprehensive EPC (Engineering, Procurement, and Construction) and O&M (Operations & Maintenance) services. The company offers end-to-end solutions for solar projects, including both ground-mounted and rooftop solar installations.
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**Analyst Outlook**
At the upper end of the price band, Saatvik Green Energy is valued at a price-to-earnings (P/E) ratio of 27.6x based on the FY25 earnings per share (EPS) of ₹16.8, which is comparatively lower than its peers in the sector.
Analysts at Choice International have assigned a “Subscribe” rating to the IPO. They cited the company’s diversified product portfolio, expanding order book, proven execution track record, and alignment with India’s renewable energy goals as key factors that support significant long-term growth potential.
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**Should You Bid?**
With strong institutional backing, an expanding operational footprint, and favorable valuations relative to peers, Saatvik Green Energy’s IPO presents a compelling opportunity for investors interested in the renewable energy sector. However, potential investors should carefully consider market risks and perform their due diligence before subscribing.
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*Stay tuned for further updates as the IPO subscription period progresses.*
https://www.newsbytesapp.com/news/business/saatvik-green-energy-ipo-opens-price-band-gmp-key-dates/story