The renewable energy company Saatvik Green Energy LTD announced Tuesday that it has received and accepted orders with a value of 488 crores ₹ from the main independent electricity producers (PPI) and EPC companies for the supply of photovoltaic solar modules, to be executed during the year 26.
Its hardware subsidiary, Saatvik Solar Industries PVT LTD, also obtained orders worth 219.62 crores ₹ from three IPP and EPC partners renowned within the same period, thus strengthening the group’s overall command portfolio in the field of clean energies.
The development closely follows the beginnings of Saatvik on Dalal Street on September 26, which saw a dull quote. The title opened at 460 ₹ on the BSE, a discount of 1.07 % compared to its 465 ₹ emission price, while it was flat on the NSE. Despite modest beginnings, the IPO of 900 crores ₹ was well received by investors, having been taken out 6.57 times during its issue period from September 19 to 23.
The IPO included a new program of 700 crores ₹ and an offer of sale of 200 crores ₹. Before the program, the company raised 269.4 crores ₹ from key investors, notably HDFC Mutual Fund, Nippon Life India, Bandhan MF, SBI General Insurance and 360 One.
The actions of Saatvik Green Energy Ltd ended up on Tuesday, October 7, 1.12 % at ₹459.00 on nse.
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(Published by: Ajay Vahnav))
