Saatvik Green Energy's IPO Shines Bright with Strong Investor Interest

Saatvik Green Energy's IPO was 59% subscribed on its first day. The Haryana company aims to raise funds for expanding its solar PV module manufacturing capacity. While retail investors showcased strong interest, institutional subscriptions were limited. The offering, aimed to set up a 4 GW facility, values the company at around Rs 5,910 crore.

Solar panel manufacturer Saatvik Green Energy launched its highly anticipated initial public offering, garnering robust interest on its first day with a 59% subscription rate.

Retail investors demonstrated significant enthusiasm with 88% subscription, while non-institutional categories saw 67% subscription. The IPO includes a fresh issue and an offer for sale by promoters.

The proceeds will primarily finance the establishment of a 4 GW solar PV module manufacturing facility in Odisha, marking a major expansion move for the Haryana-based company.

(With inputs from agencies.)