Saatvik Green Energy IPO day 2 Live: The initial public offering (IPO) of Saatvik Green Energy Limited hit the Indian primary market on 19 September 2025, and the Saatvik Green Energy IPO subscription will remain open until 23 September 2025. This means the Saatvik Green Energy IPO date is from Friday to Tuesday. The company has fixed the Saatvik Green Energy IPO price band at ₹442 to ₹465 per equity share. The upcoming IPO is proposed for listing on the BSE and the NSE. The mainboard issue aims to raise ₹900 crore, of which ₹700 crore is expected from fresh shares, while the remaining ₹200 crore is reserved for offer for sale (OFS).
Saatvik Green Energy IPO GMP today
Meanwhile, Saatvik Green Energy’s IPO created a buzz in the grey market much before the opening of its subscription. However, that buzz has fizzled down after the end of bidding on day one. According to stock market observers, shares of the company are available at a premium of ₹18 in the grey market today. This means Saatvik Green Energy’s IPO GMP today is ₹18, which signals a 4% listing gain for potential investors.
Market observers said that Saatvik Green Energy IPO GMP fell from ₹78 to ₹18 on the weekend, which can be attributed to muted sentiments in the secondary market and tepid Saatvik Green Energy IPO subscription status after the end of bidding on day 1.
Saatvik Green Energy IPO subscription status
By 11:00 AM on day 1 of bidding, the public issue had been booked 0.80 times, the retail portion had been subscribed 1.18 times, whereas its NII segment had been filled 0.93 times. The QIB portion of the book build issue had been subscribed to 0.01 times.
Saatvik Green Energy IPO review
DRChoksey Research has assigned a ‘subscribe’ tag to this mainboard IPO, saying, “Saatvik Green Energy’s initial issue is priced at 20.0x TTM EV/EBITDA, compared to the peer average of 28.0x TTM EV/EBITDA, which appears to be fairly priced in, on comparing its financial performance with its domestic listed peers. Moreover, we expect the Company to perform better, led by its proposed module and cell capacity at Odisha, improving overall margins. We assign a “SUBSCRIBE” rating to the issue.”
Canara Bank Securities has given a ‘buy’ tag to the public issue: “Saatvik Green Energy Ltd. is strategically strengthening its market presence by prioritising module capacity expansion, followed by solar cell integration, and gradually extending into raw material manufacturing. While the benefits of backward integration are yet to play out, the Odisha cell facility reflects prudent capital deployment, and the Madhya Pradesh integrated plant offers long-term scalability. At the IPO price of ₹465, the stock is valued at a P/E of 24.36x and P/B of 15.43x versus industry averages of 60.04x and 33.48x, respectively, making it relatively undervalued. We recommend investors to “SUBSCRIBE” for both listing gains and long-term investment, supported by valuation comfort and future growth visibility.”
BP Equities has also assigned a ‘buy’ tag to the mainboard IPO: “On the upper price band, the company is currently valued at a P/E of 24.4x based on FY25 earnings, which is comparatively lower than its peers. Given its strong market position and industry growth potential, Saatvik is well-positioned to deliver sustainable growth. Thus, we recommend a “SUBSCRIBE” rating for this issue from a medium to long-term perspective.”
Kunvarji Finstock and Lakshmishree Investment have assigned a ‘subscribe’ tag to the public issue. At the same time, SMC Global Securities and Systematix Shares and Stocks India have not rated the Saatvik Green Energy IPO.
Saatvik Green Energy IPO details
The mainboard issue aims to raise ₹900 crore, of which ₹700 crore is expected from fresh shares, while the remaining ₹200 crore is reserved for offer for sale (OFS). A bidder can apply in lots; one lot of the mainboard IPO comprises 32 company shares. KFin Technologies Limited has been appointed the official registrar of the book build issue. DAM Capital Advisors, Ambit, and Motilal Oswal Investment Advisors have been appointed lead managers of the public issue.
The most likely Saatvik Green Energy IPO allotment date is 24 September 2025, whereas the most likely Saatvik Green Energy IPO listing date is 26 September 2025.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
