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Sahaj Solar IPO is a book built issue of Rs 52.56 crores. The issue is entirely a fresh issue of 29.2 lakh shares.
Sahaj Solar IPO bidding started from July 11, 2024 and ended on July 15, 2024. The allotment for Sahaj Solar IPO was finalized on Tuesday, July 16, 2024. The shares got listed on NSE SME on July 19, 2024.
Sahaj Solar IPO price band is set at ₹171 to ₹180 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹288,000.
Kunvarji Finstock Pvt Ltd is the book running lead manager of the Sahaj Solar IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Sahaj Solar IPO is Aftertrade Broking.
Refer to Sahaj Solar IPO RHP for detailed information.
| IPO Date | July 11, 2024 to July 15, 2024 |
| Listing Date | July 19, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹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 |
| Share holding pre issue | 8,066,010 |
| Share holding post issue | 10,986,010 |
| Market Maker portion | 146,400 shares Aftertrade Broking |
Sahaj Solar IPO offers 2,920,000 shares. 550,400 (18.85%) to QIB, 412,800 (14.14%) to NII, 962,400 (32.96%) to RII and 824,000 (28.22%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 824,000 (28.22%) |
| Market Maker Shares Offered | 146,400 (5.01%) |
| QIB Shares Offered | 550,400 (18.85%) |
| NII (HNI) Shares Offered | 412,800 (14.14%) |
| Retail Shares Offered | 962,400 (32.96%) |
| Total Shares Offered | 2,920,000 (100%) |
Sahaj Solar IPO raises Rs 14.83 crore from anchor investors. Sahaj Solar IPO Anchor bid date is July 10, 2024. Sahaj Solar IPO Anchor Investors list
| Bid Date | July 10, 2024 |
| Shares Offered | 824,000 |
| Anchor Portion Size (In Cr.) | 14.83 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 14, 2024 |
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 |
| 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 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹144,000 |
| Retail (Max) | 1 | 800 | ₹144,000 |
| HNI (Min) | 2 | 1,600 | ₹288,000 |
| Lot Size Calculator | |||
Pramit Bharatkumar Brahmbhatt, Varna Pramit Brahmbhatt, and Manan Bharatkumar Brahmbhatt are the company's promoters.
| Share Holding Pre Issue | 97.09% |
| Share Holding Post Issue | 71.28% |
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions.
The company has three business units:
As of September 30, 2023, the company employed over 64 people in the areas of administration, accounting and finance, human resources, projects, procurement, operations manager, sales and marketing, production and operations, and top management.
Sahaj Solar Limited's revenue increased by 8.56% and profit after tax (PAT) rose by 106.25% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 14,936.40 | 9,081.50 | 6,103.22 | 3,463.94 |
| Revenue | 20,171.55 | 18,580.48 | 6,728.95 | 6,218.78 |
| Profit After Tax | 1,337.29 | 648.37 | 102.50 | 70.58 |
| Net Worth | 3,293.12 | 1,637.30 | 1,002.05 | 922.01 |
| Reserves and Surplus | 2,496.78 | 859.22 | 479.99 | 405.40 |
| Total Borrowing | 5,680.86 | 1,361.97 | 1,711.35 | 1,502.87 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Sahaj Solar IPO is Rs 197.75 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 39.96% |
| ROCE | 26.47% |
| RoNW | 39.96% |
| P/BV | 4.41 |
| PAT Margin (%) | 6.52 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 16.58 | 12.17 |
| P/E (x) | 10.86 | 14.79 |
The Company proposes to utilize the funds which are being raised through this Offer towards the following objects:
[Dilip Davda] Off late we are witnessing 1 out of 3 IPO for this segment and thus it is getting over crowded. It appears many company wants to encase the ongoing fancy for such companies. This company is in renewable energy segment with three verticals i.e. PV module manufacturing, solar power pumps and EPC in renewable energy. It marked growth in its top and bottom lines for the reported periods. Based on FY24 super earnings, the issue appears fully priced. Well-informed/cash surplus investors may park moderate fund for the long term rewards. Read detail review...
The Sahaj Solar IPO is subscribed 507.21 times on July 15, 2024 6:17:00 PM. The public issue subscribed 535.03 times in the retail category, 214.27 times in the QIB category, and 862.35 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 214.27 |
| NII | 862.35 |
| Retail | 535.03 |
| Total | 507.21 |
Total Application : 643,638 (535.03 times)
| Listing Date | July 19, 2024 |
| BSE Script Code | |
| NSE Symbol | SAHAJSOLAR |
| ISIN | INE0P4701011 |
| Final Issue Price | ₹180 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹180.00 |
| ₹342.00 |
| ₹342.00 |
| ₹359.10 |
| ₹359.10 |
Sahaj Solar Limited
Office No. 301, Ashirvad Paras,
Opp. Prahladnagar Garden,
Satellite, Ahmedabad - 380051
Phone: +91-079-68171800
Email: cs@sahajsolar.com
Website: http://www.sahajsolar.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: ssl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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Sahaj Solar IPO is a SME IPO of 2,920,000 equity shares of the face value of ₹10 aggregating up to ₹52.56 Crores. The issue is priced at ₹171 to ₹180 per share. The minimum order quantity is 800 Shares.
The IPO opens on July 11, 2024, and closes on July 15, 2024.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sahaj Solar IPO using UPI as a payment gateway. Zerodha customers can apply in Sahaj Solar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sahaj Solar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sahaj Solar IPO opens on July 11, 2024 and closes on July 15, 2024.
Sahaj Solar IPO lot size is 800 Shares, and the minimum amount required is ₹144,000.
You can apply in Sahaj Solar IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Sahaj Solar IPO will be done on Tuesday, July 16, 2024, and the allotted shares will be credited to your demat account by Thursday, July 18, 2024. Check the Sahaj Solar IPO allotment status.
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Sahaj valuation is more attractive as its PE is 42 in comparision to its peers like alpex solar PE 75 and australian premier solar PE 142.