Sahaj Solar IPO: Renewable energy solutions provider Sahaj Solar IPO opens for subscription today, July 11, 2024. It is a book-built issue aiming to raise Rs 52.56 crore through the issuance of 2.92 million fresh shares.
The subscription for Sahaj Solar IPO closes on July 15, 2024. The price band for Sahaj Solar IPO is fixed at Rs 171 to Rs 180 per share.
Additionally, Sahaj Solar IPO has raised Rs 14.83 crore from anchor investors.
Founded in 2010, Sahaj Solar Limited is a leading provider of renewable energy solutions with operations across three key segments.
The company’s manufacturing facility for PV modules, situated in Bavla, Ahmedabad, Gujarat, spans 2,883.77 square metres and boasts a building area of 2,445.5 square metres. This facility, equipped with a capacity of 100 MW, specialises in the production of mono and polycrystalline PV modules, including mono PERC modules, serving solar projects both domestically and internationally.
Additionally, Sahaj Solar offers solar water pumping systems and comprehensive Engineering, Procurement, and Construction (EPC) services nationwide. Their EPC services encompass the entire lifecycle of solar projects, from design and supply to installation, testing, commissioning, and ongoing maintenance, catering to projects of varying scales, from residential systems to large-scale solar power plants.
As of September 30, 2023, the company employs over 64 professionals across various departments, including administration, finance, human resources, projects, procurement, operations, sales, marketing, production, and senior management.
Here is all you need to know about the Sahaj Solar IPO:
Sahaj Solar IPO Lot size
Retail investors need to apply for a minimum of 800 shares, requiring an investment of Rs 144,000. High Net-Worth Individuals (HNIs) are required to apply for at least 1,600 shares (2 lots), totaling Rs 288,000.
Sahaj Solar IPO funds usage
The funds raised through this offer will be utilised for meeting the company’s working capital requirements and for general corporate purposes.
Sahaj Solar IPO allotment, listing details
The allocation for the Sahaj Solar IPO is anticipated to be finalised by Tuesday, July 16, 2024. Sahaj Solar’s IPO is scheduled to be listed on the NSE SME, with a tentative listing date set for Friday, July 19, 2024.
Sahaj Solar IPO GMP
The Grey Market Premium (GMP) of the company is Rs 164. However, due to Sebi’s new rule to cap listing gains of SME IPOs at 90 per cent, the listing premium could be Rs 162.
Sahaj Solar IPO Lead managers
Kunvarji Finstock Pvt Ltd is the book running lead manager, Kfin Technologies Limited is the registrar, and Aftertrade Broking serves as the market maker for the Sahaj Solar IPO.
Sahaj Solar IPO Financials
Sahaj Solar Limited reported an 8.56 per cent increase in revenue to Rs 20,171.55 crore, and a whopping 106.25 per cent rise in profit after tax (PAT) to Rs 1,337.29 crore, from the financial year ending March 31, 2023, to March 31, 2024.
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