The initial public offering of solar panel manufacturer Saatvik Green Energy was subscribed 6.57 times by the end of bidding on Tuesday. Over the three-day bidding period, the IPO received bids for 9,38,08,608 shares against the 1,42,71,970 shares available, as per data from the NSE. The portion allocated for Qualified Institutional Buyers (QIBs) was subscribed 10.84 times, while the non-institutional investors’ category saw a subscription of 10.04 times. Retail Individual Investors subscribed 2.66 times. On Thursday, Saatvik Green Energy announced that it secured over Rs 269 crore from anchor investors. The IPO has a price range of Rs 442 to Rs 465 per share, valuing the Haryana-based company at approximately Rs 5,910 crore at the upper limit.
This public offering comprises a fresh issue of shares amounting to Rs 700 crore and an offer for sale (OFS) of Rs 200 crore from the promoters.