By Avishek Banerjee
Copyright republicworld
The IPO of Saatvik Green Energy Ltd, a leading homegrown solar photovoltaic (PV) module manufacturer, has entered its second day with a steady response from investors. The company, which is expanding its presence in the renewable energy sector, aims to raise approximately Rs 900 crore through a combination of a fresh issue and an offer for sale by its promoters.Saatvik Green Energy has set its price band between Rs 442 and Rs 465 per share. Investors need to apply for a minimum of 32 shares, which translates to an investment of about Rs 14,880 at the upper end of the band. The IPO consists of a fresh issue worth Rs 700 crore, which will support the company’s expansion plans, and an offer for sale of Rs 200 crore by the promoters.By mid-afternoon on the second day, the IPO had been subscribed around 82% overall. The retail segment has shown encouraging interest, with subscription levels crossing 122%, indicating strong demand from individual investors. Non-institutional investors (NIIs) have subscribed approximately 96% of their allocated shares, whereas qualified institutional buyers (QIBs) have demonstrated minimal participation, with just about 1% of their quota filled so far.Also Read: GK Energy IPO Day 2: Price Band, GMP, Key Dates, Subscription Status & Other Details | Republic WorldSaatvik Green Energy IPO recorded a grey market premium of Rs 18 per share as of September 22, 2025, 04:01 PM, as per a leading market trackjing website. With the price band set at Rs 465, the estimated listing price stands at Rs 483 per share, combining the cap price with the prevailing GMP. This calculation points to an anticipated gain of 3.87% per share should the current grey market sentiment persist until listing.The funds raised will be primarily directed toward the company’s expansion initiatives. Around Rs 477 crore is earmarked for investment in Saatvik Solar Industries Pvt Ltd to establish a 4 GW solar PV module manufacturing facility at Gopalpur Industrial Park in Odisha. An additional Rs 166 crore will go toward repaying or prepaying borrowings of the subsidiary, while Rs 11 crore will be used to reduce borrowings at the parent level. The remaining proceeds will support general corporate purposes, strengthening the company’s balance sheet as it scales operations.The Saatvik Green Energy IPO opened on September 19, 2025, and will close on September 23. The basis of allotment is expected to be announced on September 24, with refunds and credit to demat accounts scheduled for September 25. The company is set to list on both the BSE and NSE on September 26.Disclaimer: The views expressed in this article are purely informational, and Republic Media Network does not vouch for, promote or endorse any opinions stated by any third party. Stock market and Mutual Fund investments are subject to market risks, and readers are advised to seek expert advice before investing in stocks, derivatives and Mutual Funds