Mumbai: Saatvik Green Energy Limited, a solar panels manufacturer, is coming out with its IPO priced at Rs 442 to Rs 465 per equity share – aggregating to Rs 900 crores – which will open on September 19, 2025 and close on September 23, 2025.

Neelesh Garg, CMD, said here recently that the Company proposes to utilize the proceeds for the Issue towards prepayment/repayment of certain outstanding borrowings, and also investment in its wholly-owned subsidiary Saatvik Solar Industries Private Limited for setting up a 4GW solar PV module manufacturing facility at Ganjam in Odisha, besides  the balance amount going towards general corporate purposes.

Garg said that the IPO was necessitated in view of the fact that India is witnessing a conscious shift to cleaner and greener energies like solar energy in which the Government is investing Rs 32 lakh crores with focus on being capable to produce 500GW by 2030.

“We are a solar panel module manufacturer and well-positioned to capture favourable industry ‘tailwinds,’ where demand for solar energy is the maximum in renewable energy production,” he said while highlighting the company’s focus on 4.80GW capacity expansion by 2027.

While the Company had its presence also in the USA, Canada and African countries, the domestic GST reduction from 12% to 5% was very welcome and the Company was eyeing low-cost-hi radiation locations for its solar projects, he added.

DAM Capital Advisors Ltd, Ambit Private Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers to the Offer.