Price Band fixed at Rs 442 to Rs465 per equity share of face value of Rs2 each
FinTech BizNews Service
MUMBAI, September 16, 2025: Saatvik Green Energy Limited (the “Company”) shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Friday, September 19, 2025.
(L-R): Ms. Mrinali Doshi (DAM Capital Advisors Limited); the management of Saatvik Green Energy Limited – Mr. Prashant Mathur, CEO; Mr. Abani Kant Jha, CFO, Mr. Neelesh Garg, CMD; Mr. Manik Garg, MD; Mr. Shashank Rathi (Motilal Oswal Investment Advisors Limited); and Mr. Vikas Khattar (Ambit Private Limited.) at the press conference to announce Saatvik Green Energy’s forthcoming Initial Public Offering.
The total offer size of Equity Shares aggregating up to Rs 9000 million [Rs 900 crore] comprises of fresh issue aggregating up to Rs 7000 million [Rs 700 crore] (“Fresh Issue”) and Offer for Sale aggregating up to Rs 2,000 million [Rs 200 crore] by Selling Shareholders (“OFS” and together with Fresh Issue, the “Offer Size”).
The Anchor Investor Bidding Date shall be Thursday, September 18, 2025. The Bid/Offer will open on Friday, September 19, 2025 for subscription and will close on Tuesday, September 23, 2025.
The Price Band of the Offer has been fixed atRs 442 to Rs 465 per Equity Share (A discount of Rs 44 per Equity Share is being offered to eligible employees bidding in the employee reservation portion). Bids can be made for a minimum of 32 Equity Shares and in multiples of 32 Equity Shares thereafter.
The Company proposes to utilise net proceeds from Fresh Issue of Equity Shares towards Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company, Investment in our wholly owned Subsidiary, Saatvik Solar Industries Private Limited, 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, Investment in our wholly owned Subsidiary, Saatvik Solar Industries Private Limited, 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”) and balance amount towards general corporate purposes (“Object of the Offer”).
The offer for sale comprises of Equity shares aggregating up to Rs 1,120 million by Parmod Kumar, aggregating up to Rs880 million by Sunila Garg (the “Promoter Selling Shareholder”).
DAM Capital Advisors Limited, Ambit Private Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers or BRLMs to the Offer.
