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Ahmedabad: Sahaj Solar Limited IPO will open for subscription on July 11. This is a bull build issue through which the company plans to raise Rs 52.56 crore. Here are 10 things you should know about Sahaj Solar Limited IPO before subscribing to the issue.
1. About Sahaj Solar Limited,
Established in the year 2010, Sahaj Solar Limited is a renewable energy solutions provider. The company has a PV module manufacturing facility in Ahmedabad.
The company's automated manufacturing facility offers mono and polycrystalline PV modules for various solar projects in India and abroad. It also manufactures mono PERC (passivated emitter and rear contact) modules.
The company also provides EPC services to customers in India which includes design, supply, installation, testing, commissioning and maintenance of projects of all sizes from simple home solar systems to large solar power plant setups. Pramit Bharatkumar Brahmbhatt, otherwise known as Pramit Brahmbhatt and Manan Bharatkumar Brahmbhatt are the promoters of the company.
2. Sahaj Solar IPO Price Band
The price band of Sahaj Solar IPO has been fixed at Rs 171-180 per share. One lot is of 800 shares. Retail investors will have to invest Rs 1.44 lakh.
3. Sahaj Solar IPO Issue Size
Sahaj Solar IPO is a book build issue of Rs 52.56 crore. It is a fresh issue of 29.2 lakh shares.
4. Objective of the Issue
The Company will use the funds raised through this offer to meet the working capital requirements of the Company and general corporate purposes.
5. Issue Structure
About 50% of the IPO is reserved for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors (NIIs).
6. Sahaj Solar IPO Timeline
The IPO will open for subscription on July 11 and close on July 15. Share allotment for the IPO is likely to take place on July 16 and the company's shares may get listed on July 18.
7. Financial performance
Sahaj Solar Limited's revenue grew by 8.56% and its profit after tax (PAT) grew by 106.25% between the financial year ended March 31, 2024 and March 31, 2023. The company's revenue stood at Rs 201.71 crore and profit after tax at Rs 13.37 crore for the period ended March 31, 2024.
8. Sahaj Solar IPO GMP
According to market experts, Sahaj Solar IPO GMP in the unlimited market is around Rs 140. This is 80 per cent higher than the issue price.
9. Sahaj Solar IPO Manager
Kunvarji Finstock Private Limited is the Book Running Lead Manager for Sahaj Solar IPO.
10. Sahaj Solar IPO Registrar
Caffeine Technology Limited is the registrar to the issue.