Saatvik Green Energy IPO Date, Review, Price and Key Information

Saatvik Green Energy IPO is fully book build issue and total IPO size is ₹1150 crores. The offering includes a fresh issue worth ₹850 crores and an offer for sale of ₹300 crores.

The dates for the Saatvik Green Energy IPO have not been announced yet. The allotment process is expected to be finalized by [.].

The price band for the Saatvik Green Energy IPO has not been announced yet. The Saatvik Green Energy IPO is scheduled to list on BSE, NSE, with a tentative listing date of [.].

Registrar for this IPO is KFin Technologies Limited and lead managers for Saatvik Green Energy IPO are DAM Capital Advisors Limited, Ambit Private Limited, Motilal Oswal Investment Advisors Limited.

IPO Schedule

IPO Open Date	-
IPO Close Date	-
IPO Allotment Date	-
Refund Initiation	-
Share credit in Demat	-
Listing Date	-

Key Details

Price Band	TBA
Lot Size	TBA
Face Value	₹2 Per Equity Share
Total Issue Size	₹1,150.00 Crores
Fresh Issue	₹850.00 Crores
OFS Issue	₹300.00 Crores
Issue Type	Fresh Issue and Offer for Sale
Listing At	BSE, NSE

Share Reservation

Investor Category	Shares Offered
QIB	50%
Retail	35%
NII/HNI	15%

About Saatvik Green Energy Limited Company

Saatvik Solar is among India's leading module manufacturers, with an operational capacity of approximately 1.8 GW as of June 30, 2024. Recognized as one of the fastest-growing companies in the sector, Saatvik has supplied over 1.5 GW of high-efficiency solar PV modules globally.

The company is an integrated player with capabilities in module manufacturing and EPC. In Fiscal 2024, Saatvik's EPC arm commissioned a 12 MW rooftop solar project for Jindal Steel and Power Limited, recognized as one of the largest single rooftop solar projects. Saatvik also commissioned a 61.42 MW floating solar power project in Ramagundam, Telangana in Fiscal 2023, one of India's largest. Saatvik's revenue from operations has grown from ₹479.95 crore in Fiscal 2022 to ₹1087.97 crore in Fiscal 2024, showcasing significant expansion. The EBITDA increased from ₹14.42 crore to ₹147.63 crore during the same period.

Saatvik operates two manufacturing facilities in Ambala, Haryana, forming one of India's largest single-location module manufacturing hubs. Currently expanding with a third 2.0 GW module manufacturing capacity, expected to be operational in Q4 Fiscal 2025, increasing the total installed capacity to 3.8 GW.

Saatvik Green Energy Limited Financial Details

Period Ended	30 Jun 2024	30 Jun 2023	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	675.82	276.80	688.04	263.00	217.41
Revenue	245.98	233.50	1087.97	608.59	479.95
Profit After Tax	21.25	13.98	100.47	4.75	5.96
Net Worth	141.88	34.22	120.74	20.27	15.62
Reserves and Surplus	138.44	30.84	117.29	16.89	12.23
Total Borrowing	262.29	129.57	263.42	144.50	101.98

₹ In Crore

Key Performance Indicator

Basic EPS (in ₹)	Return on Net Worth (RoNW)	Net Asset Value (NAV)	Debt-Equity Ratio	Return on Equity (ROE)	Return on Capital Employed (ROCE)
8.96	83.21	10.77

Offer Objectives

The Offer comprises a Fresh Issue of equity shares with a face value of ₹2 each, aggregating up to ₹850 crore, and an Offer for Sale (OFS) of equity shares with a face value of ₹2 each, aggregating up to ₹300 crore by the Selling Shareholders. The company will not receive any proceeds from the Offer for Sale.

Selling Shareholders: Parmod Kumar and Sunila Garg will participate in the Offer for Sale, each offering shares aggregating up to ₹150 crore.

Fresh Issue Proceeds: The gross proceeds from the Fresh Issue are up to ₹850 crore. The Net Proceeds from the Fresh Issue will be utilized as follows:

Prepayment or repayment of outstanding borrowings: ₹12.312 crore.
Investment in Saatvik Solar Industries Private Limited for repayment of borrowings: ₹95.751 crore.
Investment in Saatvik Solar Industries Private Limited for setting up a 4 GW solar PV module manufacturing facility: ₹552.745 crore.
General corporate purposes, not exceeding 25% of the Gross Proceeds.

The schedule for utilization of net proceeds includes ₹497.470 crore in Fiscal 2026 and ₹55.275 crore in Fiscal 2027 for the solar PV module manufacturing facility. The amount to be utilized for general corporate purposes shall not exceed 25% of the Gross Proceeds of the Fresh Issue, in accordance with the SEBI ICDR Regulations.