Satvik Green Energy Seeks to Shine with Rs 1,150 Crore IPO

Satvik Green Energy, a solar panel manufacturer, is set to raise Rs 1,150 crore through an IPO. The IPO includes a fresh issue of Rs 850 crore and an offer for sale of Rs 300 crore. Funds will be used for debt repayment, subsidiary investment, and expanding manufacturing capacity.

Satvik Green Energy has filed papers with SEBI for a Rs 1,150 crore IPO, aiming to capitalize on the growing renewable energy market.

The Haryana-based company plans to allocate Rs 850 crore as fresh issuance, while promoters will offer Rs 300 crore for sale according to their draft prospectus.

Proceeds are intended for repaying debt, investing in Saatvik Solar Industries, and increasing manufacturing capacity to 4 GW in Odisha.

(With inputs from agencies.)