Renewable energy company Saatvik Green Energy Ltd announced on Tuesday that it has secured orders worth Rs. 488 crore from prominent Independent Power Producers (IPPs) and EPC (Engineering, Procurement, and Construction) firms for the supply of solar PV modules. These orders are scheduled for execution during the financial year 2025–26 (FY26).
Additionally, the company’s material subsidiary, Saatvik Solar Industries Pvt Ltd, has won contracts valued at ₹219.62 crore from three leading IPPs and EPC partners within the same timeframe. These new deals further bolster the group’s expanding order book in the clean energy sector.
This development follows closely after Saatvik’s stock market debut on September 26, which saw a subdued listing. The shares opened at ₹460 on the BSE — a 1.07% discount to the issue price of Rs. 465 — and listed flat on the NSE.
Despite the modest listing, Saatvik’s Rs. 900 crore initial public offering (IPO) was well-received by investors, recording an oversubscription of 6.57 times during its September 19–23 window. The IPO included a fresh issue of Rs. 700 crore and an offer for sale worth ₹200 crore. Prior to the public issue, the company raised Rs. 269.4 crore from anchor investors such as HDFC Mutual Fund, Nippon Life India, Bandhan Mutual Fund, SBI General Insurance, and 360 ONE.
