Saatvik Green Energy IPO subscribed nearly 7x on day 3; here's how to check allotment

Until 5 PM, the issue secured bids for 9,38,08,544 shares as against 14,271,970 shares on offer, according to the NSE data.

The category for non-institutional investors (NIIs) fetched the highest booking with 10.04 times subscription, while the quota for retail individual investors (RIIs) received 2.66 times subscription. The portion for Qualified Institutional Buyers (QIBs) witnessed 10.84 times of booking.

The company's maiden public offering worth ₹900 crore is a combination of a fresh issuance of shares valued at ₹700 crore and an offer for sale (OFS) of ₹200 crore by promoters Parmod Kumar and Sunila Garg.

Proceeds from the fresh issue to the tune of ₹477.23 crore will be invested in Saatvik Solar Industries Pvt Ltd for establishing a 4 GW solar PV module manufacturing plant in Odisha, and ₹166.44 crore will be infused into the subsidiary for debt repayment.

The firm will also use ₹10.82 crore to clear certain borrowings at the parent level, while the remainder of funds will be used for general corporate purposes.

The IPO has a price band of ₹442 to ₹465 per share, and a lot consists of 32 shares.

Before the public offer, the company collected ₹269.4 crore from anchor investors, including HDFC Mutual Fund (MF), Bandhan MF, Nippon India MF, and SBI General Insurance Company, among others.

It allotted 57.93 lakh shares to nine funds at ₹465 apiece, which is the upper price band of the issue.

Saatvik Green Energy is a solar photovoltaic (PV) module manufacturer with an operational capacity of 3.8 GW (gigawatts) as of June 2025. The company offers end-to-end engineering, procurement and construction (EPC) services for solar projects, including rooftop solar installations and ground-mounted solar installations.

Dam Capital Advisors, Motilal Oswal Investment Advisors, and Ambit are the book-running lead managers to the issue, while KFin Technologies is the registrar.

• Chose ‘Equity & SME IPO bid details’

• Select ‘Saatvik Green Energy’ from the list of IPO names

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

• Select ‘Saatvik Green Energy’ as the issue type.

• From the dropdown menu, select ‘Saatvik Green Energy’. Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.