APAC IPOs & Placements, Aequitas Research

Rosita Fernandes

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Saatvik Energy Green Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/saatvik-energy-green-ltd" target="_blank" data-smartkarma-citation="entities:44123:1" rel="noopener">Saatvik Energy Green Ltd (1637892D IN)</a><a href="https://www.smartkarma.com/entities/saatvik-energy-green-ltd" target="_blank" data-smartkarma-citation="entities:44123:1" rel="noopener">  </a>is planning to raise about US$136m through its upcoming IPO in India. The lead bookrunners for the deal are Dam Capital, Ambit, Motilal Oswal.</li>
<li>Saatvik Green Energy Ltd (SEG) specializes in the manufacturing of solar photovoltaic (PV) modules and provides comprehensive engineering, procurement, and construction (EPC) services.</li>
<li>As per Crisil report, since its inception, the company has supplied over 1.5 GW of high-efficiency solar PV modules to both domestic and international markets.</li>
</ul>



Saatvik Energy Green Ltd (1637892D IN)  is planning to raise about US$136m through its upcoming IPO in India. The lead bookrunners for the deal are Dam Capital, Ambit, Motilal Oswal.
Saatvik Green Energy Ltd (SEG) specializes in the manufacturing of solar photovoltaic (PV) modules and provides comprehensive engineering, procurement, and construction (EPC) services.
As per Crisil report, since its inception, the company has supplied over 1.5 GW of high-efficiency solar PV modules to both domestic and international markets.


Satvik Green Energy Ltd Pre-IPO Tearsheet

India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Thematic (Sector/Industry)

<div>
<h2>Thermal Power in India and Winner's curse</h2>
<p>Around 12-13 years ago, when the Power Generation space had just opened up in India, there was mad rush to add fresh generation capacity. The situation was so bad that the price per unit and viability of project was not even a consideration for many. Among the private utilities, except for Torrent Power and CESC, almost every other company made bids which were irrational and it was clear even at the time when they won these projects that they would…</p>
</div>


Thermal Power in India and Winner's curse
Around 12-13 years ago, when the Power Generation space had just opened up in India, there was mad rush to add fresh generation capacity. The situation was so bad that the price per unit and viability of project was not even a consideration for many. Among the private utilities, except for Torrent Power and CESC, almost every other company made bids which were irrational and it was clear even at the time when they won these projects that they would…


India: The Winner's Curse Will Be Back and Next Time, It Could Be in Renewables

<div class="content-highlight"><p>Government of India is considering a massive 70% duty on imported solar modules from foreign countries to counter the import threat especially from China. While it will be good for domestic manufacturers, this will be extremely bad for Indian project developers in renewables mainly because their quoted tariffs are very low. One of the key assumption behind such low tariffs was cheap imported solar modules and if that changes, it will also be bad for funding agencies and investors in renewable…</p></div>

Government of India is considering a massive 70% duty on imported solar modules from foreign countries to counter the import threat especially from China. While it will be good for domestic manufacturers, this will be extremely bad for Indian project developers in renewables mainly because their quoted tariffs are very low. One of the key assumption behind such low tariffs was cheap imported solar modules and if that changes, it will also be bad for funding agencies and investors in renewable…

India Renewables: Import Duty on Solar Modules = Difficulties for Developers and Viability Concerns

<h2>Wind power tariffs crash to Rs2.43/unit in the latest auction in Gujarat</h2><p>As has been the trend this year in India, the tariffs quoted by companies during the auction to win renewable energy projects have crashed further and formed new lows in the latest round. A few days ago, Gujarat Urja Vikas Nigam Ltd (GUVNL) announced that Sprng Energy Pvt Ltd has quoted Rs2.43 per unit, bidding for 197.5 MW of the 500-MW auctioned by GUVNL. Interestingly, tariff of Rs2.43 per unit is lower than the…</p>

Wind power tariffs crash to Rs2.43/unit in the latest auction in GujaratAs has been the trend this year in India, the tariffs quoted by companies during the auction to win renewable energy projects have crashed further and formed new lows in the latest round. A few days ago, Gujarat Urja Vikas Nigam Ltd (GUVNL) announced that Sprng Energy Pvt Ltd has quoted Rs2.43 per unit, bidding for 197.5 MW of the 500-MW auctioned by GUVNL. Interestingly, tariff of Rs2.43 per unit is lower than the…

India Power Sector: Wind Tariffs in Auction Crash to a New Low and Why that Is Not a Cause to Cheer?

<h2>Renewable Power Tariffs continue to fall despite challenges</h2><p>In our insight on renewable (solar and wind power) projects in India (<a href="https://www.smartkarma.com/insights/not-all-is-well-with-india-renewable-story-eerie-similarities-with-earlier-events-in-thermal-power" target="_blank" data-smartkarma-citation="insights:13514">Not All Is Well with India Renewable Story, Eerie Similarities with Earlier Events in Thermal Power)</a>, we had spoken about developments in this space which indicate that the India renewable story is facing some new and unexpected head winds:</p><ol>
<li>Increase in Solar PV module prices</li>
<li>Troubled times for India’s wind turbine makers</li>
<li>Land acquisition issues in terms of delays…</li>
</ol>

Renewable Power Tariffs continue to fall despite challengesIn our insight on renewable (solar and wind power) projects in India (Not All Is Well with India Renewable Story, Eerie Similarities with Earlier Events in Thermal Power), we had spoken about developments in this space which indicate that the India renewable story is facing some new and unexpected head winds:
Increase in Solar PV module prices
Troubled times for India’s wind turbine makers
Land acquisition issues in terms of delays…


India Power Sector: After Solar, New Tariff Lows in Wind Power Projects and Why that Is Not Good

India

Orient Green Power Co Ltd. produces electricity using renewable fuels.  The Company develops, owns and operates wind, biomass and small hydroelectric power plants in India.

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Orient Green Power (OGPL IN)

Satvik Green Energy Ltd Pre-IPO Tearsheet

Saatvik Energy Green Ltd plans to raise $136m in IPO, specializing in solar PV modules and EPC services, with lead bookrunners Dam Capital, Ambit,...

Rosita Fernandes

India: The Winner's Curse Will Be Back and Next Time, It Could Be in Renewables

Thermal Power in India and Winner's curse Around 12-13 years ago, when the Power Generation space had just opened up in India, there was mad rush...

Pankaj Sharma

India Renewables: Import Duty on Solar Modules = Difficulties for Developers and Viability Concerns

Government of India is considering a massive 70% duty on imported solar modules from foreign countries to counter the import threat especially from...

Pankaj Sharma

India Power Sector: Wind Tariffs in Auction Crash to a New Low and Why that Is Not a Cause to Cheer?

Wind power tariffs crash to Rs2.43/unit in the latest auction in GujaratAs has been the trend this year in India, the tariffs quoted by companies...

Pankaj Sharma

India Power Sector: After Solar, New Tariff Lows in Wind Power Projects and Why that Is Not Good

Renewable Power Tariffs continue to fall despite challengesIn our insight on renewable (solar and wind power) projects in India (Not All Is Well...

Pankaj Sharma

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Satvik Green Energy Ltd Pre-IPO Tearsheet

​Saatvik Energy Green Ltd plans to raise $136m in IPO, specializing in solar PV modules and EPC services, with lead bookrunners Dam Capital, Ambit,...

Rosita Fernandes

India: The Winner's Curse Will Be Back and Next Time, It Could Be in Renewables

Thermal Power in India and Winner's curse Around 12-13 years ago, when the Power Generation space had just opened up in India, there was mad rush...

Pankaj Sharma

India Renewables: Import Duty on Solar Modules = Difficulties for Developers and Viability Concerns

Government of India is considering a massive 70% duty on imported solar modules from foreign countries to counter the import threat especially from...

Pankaj Sharma

India Power Sector: Wind Tariffs in Auction Crash to a New Low and Why that Is Not a Cause to Cheer?

Wind power tariffs crash to Rs2.43/unit in the latest auction in GujaratAs has been the trend this year in India, the tariffs quoted by companies...

Pankaj Sharma

India Power Sector: After Solar, New Tariff Lows in Wind Power Projects and Why that Is Not Good

Renewable Power Tariffs continue to fall despite challengesIn our insight on renewable (solar and wind power) projects in India (Not All Is Well...

Pankaj Sharma

Saatvik Energy Green Ltd plans to raise $136m in IPO, specializing in solar PV modules and EPC services, with lead bookrunners Dam Capital, Ambit,...