Saatvik Green Energy Share Debuts Flat at ₹465 on NSE; IPO Garners Strong Interest

Market Performance: A Muted Debut

The much-awaited Saatvik Green Energy share listing finally took place on September 26, 2025. But instead of a blockbuster entry, the stock made a flat debut at ₹465 apiece on the NSE, exactly matching its issue price. On the BSE, shares opened slightly lower at ₹460, marking a 1.07% drop from the IPO price.

While the listing may appear muted, it reflects the cautious mood in the broader stock market today, where investors are balancing strong demand with near-term valuations.

Saatvik Green Energy IPO Highlights

The IPO opened for subscription between September 19 and 23, with allotments finalized on September 24.

• IPO Size: ₹900 crore
  • Fresh issue: ₹700 crore
  • Offer for sale (OFS): ₹200 crore by promoters
• Valuation: At the top price band, the company was valued at ₹5,910 crore
• Lot Size: 32 shares, minimum investment ₹14,880

Despite the flat listing, the IPO itself witnessed heavy investor participation:

• Qualified Institutional Buyers (QIBs): 10.84 times subscription
• Non-Institutional Investors (NIIs): 10.04 times subscription
• Retail Investors: 2.66 times subscription

The issue closed with an overall subscription of 6.57 times, signaling strong market confidence even before listing.

Use of IPO Proceeds

The company has earmarked the IPO funds for targeted expansion and strengthening its balance sheet.

• ₹477.23 crore to be invested in subsidiary Saatvik Solar Industries Pvt Ltd, to set up a 4 GW solar PV module facility at Gopalpur Industrial Park, Odisha.
• ₹166.44 crore allocated for repayment or prepayment of subsidiary borrowings.
• ₹10.82 crore toward debt reduction at the parent company level.
• The remaining balance reserved for general corporate purposes.

This strategic allocation highlights the firm’s intent to expand manufacturing capabilities while maintaining financial discipline.

About Saatvik Green Energy

Saatvik Green Energy, founded as a pioneer in renewable energy, has grown into a major force in the solar photovoltaic module sector.

• Current operational capacity: 3.8 GW (as of June 30, 2025)
• Services: Complete EPC (Engineering, Procurement & Construction) solutions, covering both ground-mounted and rooftop solar projects.

The company has steadily scaled its business by combining manufacturing strength with EPC expertise, positioning itself as a major contributor to India’s renewable energy growth story.

Financial Performance Snapshot

Saatvik Green Energy has shown consistent growth momentum over the years.

• Revenue (FY25): ₹2,158.4 crore, up 98.4% from ₹1,088 crore in FY24
• Net Profit (FY25): ₹213.9 crore, up 113% from ₹100.5 crore in FY24

These numbers highlight not just expansion, but also profitability scaling in tandem with rising revenues.

Closing Takeaway

The debut of Saatvik Green Energy shares at ₹465 may look modest, but the underlying fundamentals tell a bigger story. Strong IPO subscription, expansion into large-scale solar manufacturing, debt reduction, and consistent profit growth reflect a company that is building for the long term.

For investors tracking the stock market today, Saatvik Green Energy’s journey from IPO to listing underlines how market sentiment, valuations, and fundamentals intersect in shaping listing outcomes.