Ahmedabad: Saatvik Green Energy Limited shall open its bid/offer in relation to its initial public offer of equity shares on Friday, September 19, 2025, the company said today.

As per an official release: “The total offer size of equity shares aggregating up to ₹9,000 million [₹900 crore] comprises a fresh issue aggregating up to ₹7,000 million [₹700 crore] and an offer for sale aggregating up to ₹2,000 million [₹200 crore] by selling shareholders. The Anchor Investor Bidding Date shall be Thursday, September 18, 2025. The bid/offer will open on Friday, September 19, 2025, for subscription and will close on Tuesday, September 23, 2025.”

“The price band of the offer has been fixed at ₹442 to ₹465 per equity share (a discount of ₹44 per equity share is being offered to eligible employees bidding in the employee reservation portion). Bids can be made for a minimum of 32 equity shares and in multiples of 32 equity shares thereafter,” the release added.

According to the official statement, the Company proposes to utilise net proceeds from Fresh Issue of Equity Shares towards Prepayment or scheduled re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company, Investment in our wholly owned Subsidiary, Saatvik Solar Industries Private Limited, in the form of debt or equity for repayment/prepayment of borrowings, in full or in part, of all or a portion of certain outstanding borrowings availed by such Subsidiary, Investment in our wholly owned Subsidiary, Saatvik Solar Industries Private Limited, for setting up of a 4 GW solar PV module manufacturing facility at National Highway – 16, Chamakhandi, Gopalpur Industrial Park, Gopalpur, Ganjam – 761 020, Odisha. (“Project Site”) and balance amount towards general corporate purposes (“Object of the Offer”).

The offer for sale comprises equity shares aggregating up to ₹1,120 million by Parmod Kumar and up to ₹880 million by Sunila Garg. DAM Capital Advisors Limited, Ambit Private Limited, and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers (BRLMs) to the offer, the official press release further stated.