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Saatvik Green Energy IPO Day 3: Check Subscription Status & Key Highlights

The Saatvik Green Energy IPO closed on September 23, 2025. What started with a cautious response on Day 1 quickly transformed into a flurry of bids as QIBs and NIIs stepped in on the last day. Retail investors also maintained steady interest, taking the total subscription to 6.93 times.

This highlights the growing appetite for renewable energy stories in India’s markets. Saatvik’s positioning as a popular solar module manufacturer has clearly resonated with both institutions and individual investors.

Read more here: Saatvik Green Energy IPO

Saatvik Green Energy IPO Day 3 Subscription Status

Day 3 saw a dramatic jump in subscriptions led by QIBs at 11.41 times and NIIs at 10.57 times. Retail demand, while lower than others, still stood strong at 2.81 times, reflecting balanced traction across categories. Employee bids added another layer of support at 5.59 times.

Category-wise subscription (as of Sep 23, 2025):

Category

Subscription (times)

QIB (Ex Anchor)

11.41

NII

10.57

• bNII (> ₹10L)

11.28

• sNII (< ₹10L)

9.13

Retail

2.81

Employee

5.59

Total

6.93

The three-day journey shows how confidence built up gradually, with institutions making a big push at the end.

Saatvik Green Energy - IPO Details

The IPO, sized at ₹900 crore, combined both a fresh issue and an offer for sale. The price band was set between ₹442 and ₹465 per share, with a lot size of 32 shares requiring a minimum investment of ₹14,880 at the upper band. Shares are set to list on BSE and NSE on September 26, 2025.

Quick highlights:

  • IPO Size: ₹900 crore

  • Fresh Issue: ₹700 crore (1.51 crore shares)

  • Offer for Sale: ₹200 crore (0.43 crore shares)

  • Price Band: ₹442 – ₹465 per share

  • Lot Size: 32 shares (₹14,880 minimum at upper band)

  • Employee Discount: ₹44 per share

  • Listing: BSE, NSE (Tentative: September 26, 2025)

  • Lead Manager: Dam Capital Advisors Ltd.

  • Registrar: Kfin Technologies Ltd.

Utilisation of Proceeds

The IPO funds are set aside to strengthen Saatvik’s expansion journey and repay borrowings.

Planned utilisation includes:

  • ₹477.23 crore – Setting up a 4 GW solar PV module facility in Odisha

  • ₹166.44 crore – Investment in subsidiary for repayment/prepayment of borrowings

  • ₹10.82 crore – Prepayment of certain borrowings by the company

  • Balance – General corporate purposes

Additional Read-  How to Apply for the Saatvik Green Energy IPO?

Saatvik Green Energy IPO Anchor Investor Allocation

Ahead of the issue, Saatvik raised ₹269.40 crore from anchor investors on September 18, 2025. This early backing added credibility and ensured momentum going into the subscription window.

Anchor details:

Details

Allocation

Investment Raised

₹269.40 crore

Shares Offered

57,93,547

Bid Date

September 18, 2025

Lock-in (50%)

October 24, 2025

Lock-in (Remaining 50%)

December 23, 2025


Click here to check out recently closed IPO

Conclusion

The final Day 3 tally leaves little doubt that the Saatvik Green Energy IPO struck the right chord with investors. Strong QIB and NII interest ensured a close at 6.93 times subscription, while retail and employee participation rounded out the demand.

As the company moves toward allotment and listing, all eyes will be on how Saatvik translates this IPO response into long-term performance in India’s booming renewable sector.

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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