Saatvik Green Energy IPO allotment status: Check application, latest GMP & listing date

Saatvik Green Energy is likely to finalize the basis of allotment of its shares on Wednesday, September 24. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Thursday, September 25. The EPC solutions player for solar energy saw a decent bidding from the investors.

The IPO of Ambala-based Saatvik Green Energy was open for bidding between September 19 and September 23. It had offered its shares in the price band of Rs 442-465 per share with a lot size of 32 shares. The company raised a total of Rs 900 crore via IPO, which included a fresh share sale of 700 crore and offer-for-sale (OFS) of up to Rs 200 crore.

The issue was overall subscribed only 6.57 times fetching nearly 5.27 lakh applications, fetching bids for over Rs 4,365 crore. The allocation for the qualified institutional bidders (QIBs) was subscribed 10.84 times, while the portion for non-institutional investors' (NIIs) was subscribed 10.04 times. However, employees and retail investors' quota was booked at 5.29 times and 2.66 times, respectively.

The grey market premium (GMP) of Saatvik Green Energy has seen some correction, following a mixed bidding and volatile market sentiments. Last heard, the company was commanding a premium of only Rs 13 in the unofficial market, suggesting flat listing gains of 2-3 per cent for the investors. The GMP stood at Rs 22 when the issue had opened for bidding.

Incorporated in 2015, Saatvik Green Energy is the manufacturer of modules and offers engineering, procurement and construction (EPC). It offers a comprehensive portfolio of solar module products that are currently manufactured using technologies that help reduce energy loss and enhance overall efficiency.

DAM Capital Advisors, Motilal Oswal Investment Advisor and Ambit are the book running lead managers for the Saatvik Green Energy IPO and Kfin Technologies the registrar of the issue. Refund initiation and credit of shares shall be initiated on Thursday, September 25. Shares of the company shall be listed at both BSE and NSE on Friday, September 26.

Investors, who had bid for the issue of Saatvik Green Energy, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Saatvik Green Energy Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.