Saatvik Green Energy is ready to get listed on the Indian stock exchange and create buzz on Dalal Street. The company has filed Draft Red Herring Prospectus (DRHP) to raise around ₹1,150 crore. This company primarily works in the green energy niche. It was established in 2016 and rapidly expanded its production capabilities and market presence. Here are the financials and other important details regarding the IPO, the fresh issue size, and the offer for sale (OFS). Let’s find out everything below.
According to the DRHP filed by Saatvik Green Energy to SEBI, the total issue size of the IPO will be ₹1,150 crore. The fresh issue will be ₹850 crore and the offer for sale (OFS) of ₹300 crore by its promoters. Based on available details, promoters Pramod Kumar and Sunila Garg are selling shares worth ₹300 crore.
Discussing the funds raised through this IPO, the company funds through fresh issues will be used to establish a 4 GW solar PV module facility in Odisha. In which the, ₹553 crores will be used. The amount of ₹96 crore will be used for debt repayment through its subsidiary Saatvik Solar Industries. Along with it, ₹12.3 crore will be used to clear additional debt reduction and corporate purposes.
Here are the financials of Saatvik Green Energy which is important to know. Profit in FY24 surged by 2017% to ₹100.47 crore, compared to ₹4.74 crore in FY23. Revenue grew by 78.76% to ₹1,087.96 crore in the same period. While on the other hand, In the Q1 FY25 results, Profit stood at ₹21.24 crore with revenue of ₹245.97 crore.
Saatvik Green Energy IPO is yet to get approval from SEBI and after the approval, the IPO date will be announced. Here we will add information about Saatvik Green Energy’s IPO date, price band, minimum lot size, and more once the details are unveiled by the company. It may take a few days.