Sahaj Solar (IPO) opens on July 11, 2024, and closes on July 15, 2024. The allotment for the Sahaj Solar IPO is anticipated to be completed on Tuesday, July 16, 2024. The IPO will be listed on the NSE and SME, with a tentative date of Friday, July 19, 2024.
The Sahaj Solar IPO’s price band is Rs 171 to 180 per share. The IPO is a book-built issue of Rs 52.56 crores, entirely a fresh issue of 29.2 lakh shares.
Sahaj Solar IPO Details
| IPO Date | July 11, 2024 to July 15, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹171 to ₹180 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 2,920,000 shares (aggregating up to ₹52.56 Cr) |
| Fresh Issue | 2,920,000 shares (aggregating up to ₹52.56 Cr) |
| Employee Discount | Rs 15 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre-issue | 8,066,010 |
| Shareholding post issue | 10,986,010 |
| Market Maker portion | 146,400 shares |
Sahaj Solar IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 800 | ₹144,000 |
| Retail (Max) | 1 | 800 | ₹114,000 |
| HNI (Min) | 2 | 1600 | ₹228,000 |
Sahaj Solar IPO Objectives
The objectives of the Issue are:
- Working Capital Requirements of the Company.
- General Corporate Purpose.
About Sahaj Solar Limited
Sahaj Solar Limited, founded in 2010, is a provider of renewable energy solutions with three business units. The company’s PV module manufacturing facility is located in Bavla, Ahmedabad, Gujarat. This automated manufacturing facility produces mono and polycrystalline PV modules for various solar projects in India and abroad. Additionally, the facility manufactures mono PERC (Passivated Emitter and Rear Contact) modules.
Sahaj Solar Limited Financial Information
Sahaj Solar Limited’s revenue increased by 176.13% and profit after tax (PAT) rose by 532.56% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,483.62 | 9,081.50 | 6,103.22 | 3,463.94 |
| Revenue | 6,110.30 | 18,580.48 | 6,728.95 | 6,218.78 |
| Profit After Tax | 207.48 | 648.37 | 102.50 | 70.58 |
| Net Worth | 1,836.08 | 1,637.30 | 1,002.05 | 927.45 |
| Reserves and Surplus | 1,063.00 | 859.22 | 479.99 | 405.40 |
| Total Borrowing | 1,655.72 | 1,241.72 | 1,711.35 | 1,502.87 |
Sahaj Solar IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Sahaj Solar IPO Timeline
Sahaj Solar IPO opens on July 11, 2024, and closes on July 15, 2024.
| IPO Open Date | Thursday, July 11, 2024 |
| IPO Close Date | Monday, July 15, 2024 |
| Basis of Allotment | Tuesday, July 16, 2024 |
| Initiation of Refunds | Thursday, July 18, 2024 |
| A credit of Shares to Demat | Thursday, July 18, 2024 |
| Listing Date | Friday, July 19, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 15, 2024 |
Conclusion
Sahaj Solar Limited, a renewable energy solutions provider established in 2010, is launching an IPO with a book built issue worth ₹52.56 crores, entirely as a fresh issue of 29.2 lakh shares. The IPO, managed by Kunvarji Finstock Pvt Ltd and registered by Kfin Technologies Limited, opens on July 11, 2024, and closes on July 15, 2024. The shares will be listed on the NSE SME on July 19, 2024. The price band is set at ₹171 to ₹180 per share, with a minimum investment requirement of ₹144,000 for retail investors. Sahaj Solar’s robust financial growth, demonstrated by a significant increase in revenue and profit over recent years, underscores its market potential and appeal to investors.
