Saatvik Green Energy Ltd has announced the launch of its initial public offering (IPO), aiming to raise INR 900 crore. The offer comprises a fresh issue of equity shares aggregating up to INR 700 crore and an offer for sale (OFS) aggregating up to INR 200 crore by the promoters.
The price band for the offer has been fixed at INR 442 to INR 465 per equity share. The IPO will open for public subscription on Sep. 19, 2025, and close on Sep. 23, 2025, with the anchor investor portion opening on Sep. 18, 2025. Bids can be made for a minimum of 32 equity shares and in multiples of 32 equity shares thereafter.
Saatvik proposes to utilize the net proceeds from the fresh issue for prepayment or scheduled repayment of certain outstanding borrowings availed by the company; investment (in the form of debt or equity) in its wholly-owned subsidiary, Saatvik Solar Industries, to repay/prepay borrowings of the subsidiary and to set up a 4 GW solar PV module factory at Gopalpur Industrial Park, Ganjam, Odisha; and general corporate purposes.
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