Saatvik Green Energy IPO GMP hits 14% as issue opens for subscription: Should you bid?

Saatvik Green Energy IPO GMP hits 14% as issue opens for subscription: Should you bid?Saatvik Green has raised ₹269 crore a day before the IPO opening, in which investors like HDFC Mutual Fund, Nippon Life India, Bandhan MF, SBI General Insurance Company, among others, participated in the anchor book.By Meghna Sen September 19, 2025, 7:33:33 AM IST (Published)2 Min ReadThe ₹900 crore initial public offering (IPO) of solar panels manufacturer Saatvik Green Energy is opening for subscription on September 19. The issue will close on September 23, with listing expected on both NSE and BSE on September 26.

Ahead of the IPO opening, shares of the company are quoting a premium of 14% in the grey market.

The company raised ₹269.4 crore a day before the IPO, in which domestic institutional investors like HDFC Mutual Fund, Nippon Life India, Bandhan MF, SBI General Insurance Company, 360 ONE, among others, participated in the anchor book.

The price band for the issue has been fixed at ₹442-465 per share, and investors can bid for a minimum lot of 32 shares. The minimum amount of investment required by a retail investor is ₹14,880.

The IPO is a combination of fresh issue of 1.51 crore shares aggregating to ₹700 crore, and an offer for sale of 0.43 crore shares aggregating to ₹200 crore.

Saatvik Green Energy that claims among the leading solar photovoltaic module manufacturers in India with operational capacity of about 3.80 gigawatt (GW) modules will utilise ₹177.3 crore of net fresh issue proceeds for repayment of certain outstanding borrowings.

Further, ₹477.2 crore will be used for setting up of a 4 GW solar PV module manufacturing facility at Ganjam, Odisha through subsidiary Saatvik Solar Industries, and the remaining amount will be set aside for general corporate purposes.

Along with solar panels manufacturing, the company also provides engineering, procurement and construction (EPC), and operations and maintenance (O&M) services.

DAM Capital Advisors, Ambit, and Motilal Oswal Investment Advisors are acting as the merchant bankers for the Saatvik Green Energy IPO. Kfin Technologies is the registrar to the issue.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIPO