Saatvik Inexperienced Vitality IPO: The corporate making photo voltaic photovoltaic modules once more submits draft, plan to boost ₹ 1150 crore – INA NEWS

Saatvik inexperienced power iPo: Satvik Inexperienced Vitality, which makes photo voltaic photovoltaic modules, has as soon as once more submitted to the draft paper SEBI for its IPO. The corporate needs to boost Rs 1,150 crore from public challenge. Capital Market Regulator SEBI returned the corporate’s earlier provide paperwork in February. New shares value Rs 850 crore will probably be issued within the IPO and the provide of Rs 300 crore will probably be provided for the promoters. Pramod Kumar and Sunila Garg, who’re within the promoter group, will promote shares value Rs 150 crore via the offer-for-cell.

The corporate has not made any adjustments in its provide dimension in comparison with earlier draft papers. Earlier on November 18, 2024, Satwik Inexperienced Vitality contacted SEBI with its IPO plan, however SEBI returned the corporate’s provide paperwork on February 10, 2025.

3.16 Gigawatt Photo voltaic PV Module Order Guide

About 3.80 GW (GW) Operational Photo voltaic Photovoltic (PV) Module of Modules is among the many veteran module manufactures of India within the case of module manufacturing capability. It has an order ebook of three.16 GW Photo voltaic PV modules. The corporate additionally presents operations and upkeep companies. Satvik Inexperienced Vitality can think about elevating funds as much as Rs 170 crore in pre-IPO placement. If this occurs, the dimensions of the difficulty of latest shares within the IPO will probably be diminished.

IPOS This Week: 3 new IPOs will open within the week ranging from March 17, 2 corporations will probably be checklist

How one can use IPO cash

Satvik Inexperienced Vitality will use Rs 135.2 crore out of the cash to be obtained by releasing new shares in its IPO to repay the debt of its and a subsidiary Satvik Photo voltaic Industries. As well as, 476.4 crore rupees will probably be used to put in 4 GW Photo voltaic PV Module Manufacturing Facility in Odisha. Promoters maintain 90.05 % stake within the firm and the remaining 9.95 % shares are with public shareholder Prashant Mathur. He has been related to Satwik Inexperienced Vitality since April 2021. Listed competitions of Satvik Inexperienced Vitality embrace corporations equivalent to Wari Vitality and Premier Vitality.

Revenue elevated by 21 occasions in monetary 12 months 2024

The web revenue of Satvik Inexperienced Vitality in FY 2023-24 elevated by greater than 21 occasions to Rs 100.4 crore. Income elevated by 78.8 % to Rs 1,088 crore. Throughout April-December 2024, the earnings elevated by 239 % to Rs 122.9 crore on an annual foundation and the income elevated by 95.2 % to Rs 1,239.5 crore. The ebook operating lead supervisor for the corporate’s IPO is DAM Capital Advires, Embit and Motilal Oswal Funding Advyers.