Saatvik Green Energy Limited
Minimum investment
Bidding date
19 Sep - 23 Sep 2025
Price range
₹442 - ₹465
Minimum quantity
32
Minimum investment
₹14,144
Issue size
₹900 Cr.
IPO doc (link)
RHP docs
Listing exchange
NSE/BSE
Category | Subscription |
|---|---|
Qualified Institutional Buyers | 5.31x |
Retail Individual Investor | 1.59x |
Non-Institutional Investor | 6.47x |
Others | - |
Total | 1.59x |
ncorporated in 2015, Saatvik Green Energy Ltd. is one of India’s leading solar module manufacturers and EPC (Engineering, Procurement, and Construction) solution providers. The company offers a wide portfolio of solar modules, including Monocrystalline PERC and N-TopCon modules in both monofacial and bifacial variants. These are suitable for residential, commercial, and utility-scale projects.
Saatvik commenced operations in 2016 with an annual capacity of 125 MW, which has now grown to 3.80 GW as of June 30, 2025. The company operates two state-of-the-art facilities in Ambala, Haryana, spread across 724,225 sq. ft.
The company has a strong workforce of over 600 employees and a reputed client base across India. Its consistent expansion, innovative technology, and growing order book position it as a key player in India’s renewable energy sector.
Strong Revenue Growth: Saatvik Green Energy has reported rapid growth in revenue and profitability over the past three years, highlighting its financial strength and scalability.
Quality Customer Base: The company maintains a strong and reliable customer base, supported by long-term contracts with independent power producers.
Diversified Product Portfolio: With advanced solar technologies such as Mono PERC and N-TopCon modules, the company caters to residential, commercial, and large-scale solar projects.
Capacity Expansion: Saatvik continues to expand its manufacturing capacity, positioning itself well to capture future demand in the renewable energy sector.
Experienced Management: A capable management team and strong promoter holding ensure effective business strategy and leadership.
Policy Dependence: The renewable energy sector is heavily reliant on government policies and subsidies, which may impact future growth if regulations change.
High Borrowings: With a Debt-to-Equity ratio of 1.36 in FY25, the company carries significant borrowings that could affect financial stability.
Raw Material Sensitivity: Fluctuations in raw material prices for solar module manufacturing can directly impact profit margins.
Competitive Industry: The solar manufacturing industry is highly competitive, with pressure from both domestic and international players.
Equity Dilution: The post-issue equity dilution may affect earnings per share (EPS) and short-term shareholder returns.
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