Saatvik Green Energy shares list at 1% discount to IPO price on exchanges
Saatvik Green Energy nearly listed flat on the exchanges on Friday, September 26. The stock debuted at its IPO price of Rs 465 on the NSE, while on the BSE it opened slightly lower at Rs 460, down 1%%. The company raised Rs 900 crore through its IPO, comprising a fresh issue of Rs 700 crore and an offer for sale of Rs 200 crore, with overall subscription at six times.
Despite strong bidding, the issue failed to generate significant buzz in the unlisted market. Ahead of listing, shares of Saatvik Green Energy were trading at a grey market premium (GMP) of Rs 10 over the issue price, indicating an expected 2% gain on listing day.
