Get ready for a significant event in the renewable energy sector! Saatvik Green Energy Ltd. (SGEL) is gearing up to launch its much-anticipated Initial Public Offering (IPO), aiming to raise a substantial ₹900 crore.
The IPO’s price band has been established between ₹442 and ₹465 per equity share, with shares available in lots of 32. SGEL intends to raise ₹700 crore through a fresh issue of shares, with the remaining capital coming from an offer for sale. Interestingly, the company initially sought a larger IPO of ₹1,150 crore (comprising ₹800 crore in fresh issue and ₹300 crore in OFS). The funds generated from this public offering are earmarked for strategic purposes: primarily to settle existing borrowings and to fuel investment into a state-of-the-art 4 GW solar PV module manufacturing facility located in Ganjam, Odisha.
This adjusted IPO size reflects a broader trend observed this year, where several public offerings have seen their ambitions moderated, likely in response to prevailing market conditions. Indeed, 2025 has seen a relatively slow start for IPOs, with a notably small number of companies making their market debut during the first half of the year.
Mark your calendars! Bidding for anchor investors is slated to commence on September 18th. For other eager investors, the bid window will open on September 19th and conclude on September 23rd.