Saatvik Green Energy's Bright IPO Journey: Harnessing Solar for Growth

Saatvik Green Energy is set to launch its IPO, having raised over Rs 269 crore from anchor investors. This fresh public offering aims to fund a 4 GW solar PV module facility and debt repayment, with shares expected to list on September 26.

Saatvik Green Energy has successfully raised over Rs 269 crore from anchor investors, including HDFC Mutual Fund and SBI General Insurance, a day before its initial public offering (IPO) opens for subscription.

The Haryana-based solar panel maker allocated close to 58 lakh shares at a price of Rs 465 each. The company's IPO, priced between Rs 442 and Rs 465 per share, will be open to the public from September 19 to 23, valuing Saatvik at approximately Rs 5,910 crore.

Funds from the IPO will be directed towards expanding solar manufacturing capacity and repaying debt. Shares are slated for listing on September 26, marking a significant milestone in Saatvik's growth trajectory.

(With inputs from agencies.)