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The Saatvik Green Energy IPO, which opened on September 19, 2025, continued to see bids across categories on Day 2. Priced in the range of ₹442–₹465 per share, the issue size is ₹900 crore, consisting of a fresh issue of ₹700 crore and an offer for sale worth ₹200 crore.
By the second day, the IPO reached an overall subscription of 1.09x, reflecting an increase compared to the opening day. Retail investors, non-institutional bidders, and employees were the most active groups, while QIB participation remained minimal. For more details on the process, you can visit the official page of the Saatvik Green Energy IPO.
As of 3:44PM on September 22, 2025 (Day 2), the IPO was subscribed 1.09x overall. The retail category saw bids worth 1.59x, NIIs recorded 1.32x, and employees oversubscribed at 3.41x. The QIB (ex-anchor) portion, however, remained almost flat at 0.01x.
Investor Category | Subscription (times) |
QIB (Ex Anchor) | 0.01x |
NII | 1.32x |
bNII (> ₹10L) | 0.93x |
sNII (< ₹10L) | 2.09x |
Retail | 1.59x |
Employee (EMP) | 3.41x |
Total | 1.09x |
Total Applications: 2,78,408
The IPO will remain open from September 19 to September 23, 2025, and aggregates to ₹900 crore through a mix of fresh shares and an offer for sale. Shares have a face value of ₹2 each, and the lot size is 32 shares, requiring a retail investment of at least ₹14,880.
Total Issue Size: 1.93 crore shares
Fresh Issue: 1.51 crore shares (₹700 crore)
Offer for Sale: 0.43 crore shares (₹200 crore)
Issue Type: Book-building IPO
Listing: BSE, NSE (tentative date: September 26, 2025)
Registrar: Kfin Technologies Ltd.
Lead Manager: Dam Capital Advisors Ltd.
The company plans to use the proceeds from the fresh issue towards:
Repayment or prepayment of certain borrowings: ₹10.82 crore
Investment in subsidiary for loan repayment: ₹166.44 crore
Funding a 4 GW solar PV module manufacturing facility in Odisha: ₹477.23 crore
General corporate purposes
Additional Read- How to Apply for the Saatvik Green Energy IPO?
Category | Shares Offered | Allocation (%) |
QIB (Ex Anchor) | 38,60,119 | 28.47% |
NII (HNI) | 28,96,100 | 21.36% |
Retail Investors | 67,57,566 | 49.83% |
Employees | 47,506 | 0.35% |
Total | 1,35,61,291 | 100% |
Click here to check out recently closed IPO
Day 2 data shows the IPO crossing the 1x mark overall, primarily supported by retail, NII, and employee bids. Institutional demand from QIBs, however, is still limited at this stage.
As bidding continues, the final picture will depend on institutional participation in the remaining days. Investors are advised to look at subscription data along with the company’s fundamentals before making investment decisions.
Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Saatvik Green Energy IPO.
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