Sahaj Solar IPO: Investors have responded well to Sahaj Solar Limited’s first public offering (IPO), which was made available to the general public on July 11. The 52.56-crore initial public offering (IPO) garnered 4.4 times subscription up to 10:24 am on Thursday, the first day of bidding. Bids were received for 92,16,800 shares, out of the 20,96,000 shares that were offered.
The IPO’s price range is set at between Rs. 171 and Rs. 180 per share.
A minimum of 800 equity shares, and in multiples of that number, must be applied for by investors. Retail investors would therefore need to invest a minimum of Rs 1,44,000 [800 (lot size) x Rs 180 (upper price band)].
It is anticipated that the Sahaj Solar IPO allotment will be finalized on July 16 and that it will list on the NSE SME on July 19.
Sahaj Solar IPO GMP Today
Market watchers report that unlisted shares of Sahaj Solar Ltd. are trading on the grey market for Rs 164 more than the company’s issue price. The grey market is anticipating a 91.11% listing gain from the public offering, as shown by the Rs 164 gray market premium, or GMP. The GMP is dynamic and dependent on market mood.
The willingness of investors to pay over the issue price is shown by the “grey market premium.”
Sahaj Solar IPO: More Details
A total of 29.2 lakh shares are being issued in the Sahaj Solar IPO.
Established in 2010, Sahaj Solar Limited offers sustainable energy solutions.
The firm is divided into three divisions: PV module manufacturing The company’s PV module production plant is situated in Bavla, Gujarat’s Ahmedabad. The property spans 2,883.77 square meters, including a 2445.5 square meter building that houses office and manufacturing space. The plant can produce 100 MW of energy. The company’s automated manufacturing plant produces mono and polycrystalline photovoltaic modules for a range of domestic and international solar projects. A mono PERC (Passivated Emitter and Rear Contact) module is also produced at this site.
During the fiscal year 2023–2024, Sahaj Solar experienced a growth in revenue of 8.56% and a profit after tax (PAT) of 106.25%.
The Sahaj Solar IPO’s book running lead manager is Kunvarji Fin stock Pvt Ltd, while the issue’s registrar is Kfin Technologies Limited. For the Sahaj Solar IPO, Aftertrade Broking is the market maker.
