Saatvik Green Energy Ltd. (SGEL) is set to hit the market with a ₹900-crore initial public offering (IPO).
The company has set a price band between ₹442 and ₹465 per equity share and will be issued in lots of 32 equity shares. SGEL plans to raise ₹700 crore in fresh issue and the rest via offer for sale. Originally the company had filed for an IPO size of ₹1,150 crore, with ₹800 crore in fresh issue and ₹300 crore in OFS. The company plans to use the proceeds of the issue to repay borrowings and invest in the 4 GW solar PV module manufacturing facility at Ganjam, Odisha.
This is among many IPOs in the calendar year which had their sizes trimmed, likely due to market conditions. To be sure, IPOs have been late to take-off this in 2025, with the first half of the calendar year having very small number of companies listing.
The bidding is set to open for anchor investors on September 18. The bid will open for other investors on September 19 and will close on September 23.
Published – September 16, 2025 09:16 pm IST
