Saatvik Green Energy Shares List Flat at Rs 465 on NSE

Market Performance

Saatvik Green Energy shares made their debut on stock exchanges on September 26, listing at Rs 465 per share on the NSE, exactly matching the IPO price. On the BSE, the shares were quoted at Rs 460, showing a slight discount of 0.69%. The company’s market capitalization post-listing stood at Rs 5,846.83 crore.

The listing came after a well-subscribed IPO, which saw 6.57 times subscription between September 19-23 in the primary market. While investors had anticipated a modest premium in the grey market, the shares listed flat, reflecting a steady start in the secondary market.

Main News

Saatvik Green Energy’s IPO garnered Rs 900 crore in total, comprising a fresh issue of Rs 700 crore and an offer-for-sale of Rs 200 crore by promoters. The capital from the fresh issue will be used for strategic expansion and repayment of borrowings, aimed at enhancing the company’s operational capacity and overall financial stability.

Company Details

Saatvik Green Energy is a solar photovoltaic (PV) module manufacturer with an operational capacity of approximately 3.8 GW as of June 30, 2025. The company offers comprehensive engineering, procurement, and construction (EPC) services for solar projects. Its portfolio covers:

• Ground-mounted solar installations
• Rooftop solar installations

Use of IPO Proceeds:

• Rs 477.23 crore will be invested in Saatvik Solar Industries Private Limited to set up a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park, Odisha.
• Rs 166.44 crore will be allocated to the subsidiary for repayment or prepayment of borrowings.
• Around Rs 10.82 crore will be used to repay certain parent-level borrowings.
• Remaining funds are set aside for general corporate purposes.

Summary

Saatvik Green Energy’s IPO listing may have started flat, but it highlights strong investor interest in renewable energy. With strategic fund utilization for expansion and debt management, the company is well-positioned to scale its solar PV operations while strengthening its market presence in India’s growing renewable energy sector.