Sahaj Solar is scheduled to hit the market on July 11, 2024 and close on July 15, 2024. Sahaj Solar plans to raise around ₹52.56 Cr through an IPO with a sale of up to 2,920,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Sahaj Solar Limited, established in 2010, specializes in offering renewable energy solutions. The company operates through three main business segments. Firstly, it engages in PV module manufacturing at its facility in Bavla, Ahmedabad, Gujarat, covering an area of 2,883.77 square metres. With a production capacity of 100 MW, the facility produces mono and polycrystalline PV modules along with a mono PERC module for solar projects in India and overseas. Secondly, Sahaj Solar Limited provides solar water pumping systems. Lastly, the company delivers EPC services nationwide, catering to projects of varying scales, from small domestic solar systems to large solar power plant installations.
As of September 30, 2023, Sahaj Solar Limited had a workforce exceeding 64 individuals across departments such as administration, accounting and finance, human resources, projects, procurement, operations management, sales and marketing, production and operations, as well as top management. The company's commitment to renewable energy solutions is evident through its diverse business operations and dedicated team working towards sustainable and environmentally friendly energy practices.
Sahaj Solar IPO Details
Sahaj Solar IPO opens on July 11, 2024, and closes on July 15, 2024. The Listing date for Sahaj Solar IPO is on July 19, 2024. The price band for IPO is ₹171 to ₹180 per share and lot size of 800 Shares.
| IPO Date | July 11, 2024 to July 15, 2024 |
| Listing Date | July 19, 2024 |
| Price | ₹171 to ₹180 per share |
| Lot Size | 800 Shares |
| Issue Size | ₹52.56 Cr |
| Face Value | ₹10 per share |
Sahaj Solar IPO Tentative Timetable
Sahaj Solar opening date is July 11, 2024 and close date is July 15, 2024. The IPO allotment date is July 16, 2024. The refund initiation of IPO is on July 18, 2024. The credit of shares in demat account is on July 18, 2024. The listing date is on July 19, 2024.
| Event | Date |
|---|---|
| IPO Opening | July 11, 2024 |
| IPO Closing | July 15, 2024 |
| IPO Allotment Date | July 16, 2024 |
| Refund Initiation | July 18, 2024 |
| Shares Credit to Demat | July 18, 2024 |
| Lisiting Date | July 19, 2024 |
Sahaj Solar IPO Lot Size
Lot Size of this IPO is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹144,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 800 | ₹144,000 |
| Retail(Maximum) | 1 | 800 | ₹144,000 |
| HNI (Minimum) | 2 | 1600 | ₹288,000 |
Sahaj Solar IPO Promoter Holding
| Pre Issue Share Holding | 97.09% |
| Post Issue Share Holding | 71.28% |
Sahaj Solar IPO Review
Sahaj Solar Ltd. (SSL) is a renewable energy solution provider engaged in manufacturing PV modules, offering solar water pumping systems, and providing EPC services across India. With a decade of experience, SSL operates a 100 MW PV module manufacturing plant in Bavla, Ahmedabad, Gujarat, producing mono and polycrystalline PV modules, including high-efficiency Mono PERC modules. The company also offers solar water pumping systems, benefiting from government schemes like PM KUSUM, which aid farmers by providing standalone solar water pumps. Additionally, SSL provides engineering, procurement, and construction (EPC) services for solar installations, ranging from domestic setups to large-scale solar power plants.
Sahaj Solar Ltd. has shown significant growth in its financial performance, with a substantial increase in both revenue and profit. For FY21 to FY24, the company reported revenues of ₹62.19 crore, ₹67.29 crore, ₹185.81 crore, and ₹201.72 crore, respectively, and profits of ₹0.71 crore, ₹1.03 crore, ₹6.48 crore, and ₹13.37 crore, respectively. The company's IPO aims to raise ₹52.56 crore through the issuance of 29,20,000 equity shares priced between ₹171 and ₹180 per share. The IPO will fund working capital (₹39.42 crore) and general corporate purposes. Post-IPO, the company's market cap is estimated at ₹197.75 crore.
Despite impressive recent financial growth, the sustainability of this surge raises concerns due to increasing competition in the renewable energy sector. SSL's debtor days of 161 and contingent liabilities also warrant caution. While the issue is fully priced based on FY24 earnings, well-informed investors with surplus funds might consider a moderate investment for long-term returns. The company has not declared dividends in the reported periods, and its peer comparison shows varied P/E ratios, indicating differing market perceptions. Kunvarji Finstock Pvt. Ltd. manages the IPO, with KFin Technologies Ltd. as the registrar.
Sahaj Solar IPO Subscription Status (Bidding Details)
Table not foundSahaj Solar IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Sahaj Solar IPO FAQs
What is Sahaj Solar IPO?
Sahaj Solar is issuing 2,920,000 equity shares with a face value of ₹10 each, totaling up to ₹52.56 Cr. The shares are being offered at a price of ₹171 to ₹180 each, with a minimum order quantity of 800 shares.
Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Sahaj Solar IPO will open?
Sahaj Solar will open on July 11, 2024 for QIB, NII, and Retail Investors.
When Sahaj Solar IPO will end?
Sahaj Solar will end on July 15, 2024.
What is Sahaj Solar IPO Size?
Sahaj Solar IPO size is ₹52.56 Cr.
What is Sahaj Solar IPO Price Band?
Sahaj Solar price band is ₹171 to ₹180 per share.
What is the Sahaj Solar IPO Allotment Date?
Sahaj Solar allotment date is July 16, 2024.
What is the Sahaj Solar IPO Listing Date?
Sahaj Solar listing date is July 19, 2024. The IPO is to be listed on BSE and NSE.
How to Sahaj Solar IPO through Zerodha?
To apply for the IPO “Sahaj Solar” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Sahaj Solar IPO through Upstox?
To apply for the IPO “Sahaj Solar” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Sahaj Solar IPO Allotment Status?
For Sahaj Solar IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Sahaj Solar IPO GMP?
You can check out here: Sahaj Solar IPO GMP