Saatvik Green Energy rallies 5% to all-time high after twin order wins; check details

The newly listed renewable energy firm bagged a ₹488 crore order from renowned independent power producers or EPC for the supply of solar PV modules.

Further, Saatvik Green also secured another order worth ₹219.62 crore from three renowned independent power producers, or EPC, for the supply of solar PV modules.

Both the orders will be executed in FY26, the company said in a regulatory filing.

Last seen at 10:20 AM, shares of Saatvik Green Energy were trading at ₹474 apiece on the National Stock Exchange, gaining 3.04%. In the last five trading sessions, the stock has rallied nearly 10%.

Shares of the company were listed on both BSE and NSE on September 26.

The IPO had fetched 6.57 times the subscription, receiving bids for 93,808,672 equity shares as against 14,271,970 shares on offer, as per the data available on the NSE website.

The ₹900 crore initial share sale was a mix of a fresh issuance of equity shares aggregating to ₹700 crore and an offer for sale, or OFS, of ₹200 crore by promoters Parmod Kumar and Sunila Garg.

Before the IPO, the company had mobilised ₹269.4 crore in the anchor round from investors, including HDFC Mutual Fund (MF), Bandhan MF, Nippon India MF, and SBI General Insurance Company, among others.

Saatvik Green Energy is a solar photovoltaic (PV) module maker with an operational capacity of around 3.8 GW 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.

Saatvik Green Energy is growing quickly but in a focused way. The company operates with 3,743 MW capacity across three factors in Haryana. It is adding 5 GW more modules and 4.8 GW of cells in Odisha. This move into cell manufacturing strengthens backward integration and will help improve margins.