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Sahaj Solar Limited IPO (Sahaj Solar IPO) Detail

July 11, 2024 - July 15, 2024

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.

Sahaj Solar IPO Details

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 Size2,920,000 shares
(aggregating up to ₹52.56 Cr)
Fresh Issue2,920,000 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 issue8,066,010
Share holding post issue10,986,010
Market Maker portion146,400 shares
Aftertrade Broking

Sahaj Solar IPO Reservation

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 Offered824,000 (28.22%)
Market Maker Shares Offered146,400 (5.01%)
QIB Shares Offered550,400 (18.85%)
NII (HNI) Shares Offered412,800 (14.14%)
Retail Shares Offered962,400 (32.96%)
Total Shares Offered2,920,000 (100%)

Sahaj Solar IPO Anchor Investors Details

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 Timeline (Tentative Schedule)

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

Sahaj Solar IPO Lot Size

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

Sahaj Solar IPO Promoter Holding

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%

About Sahaj Solar Limited

Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions.

The company has three business units:

  1. PV module manufacturing: The company's PV module manufacturing facility is located at Bavla, Ahmedabad, Gujarat. It is spread over an area of 2,883.77 square metres and has a building of 2445.5 square metres comprising both factory and office space. The plant has a capacity of 100 MW. The company's automated manufacturing facility offers mono and polycrystalline PV modules for various solar projects in India and abroad. The facility also manufactures a mono PERC (Passivated Emitter and Rear Contact) module.
  2. Provision of solar water pumping systems
  3. Providing EPC services to PAN India customers: This includes design, supply, installation, testing, commissioning and maintenance of projects of all sizes, from a simple domestic solar system to a large solar power plant set-up.

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 Financial Information (Restated Consolidated)

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 Ended31 Mar 202431 Mar 202331 Mar 202231 Mar 2021
Assets14,936.409,081.506,103.223,463.94
Revenue20,171.5518,580.486,728.956,218.78
Profit After Tax1,337.29648.37102.5070.58
Net Worth3,293.121,637.301,002.05922.01
Reserves and Surplus2,496.78859.22479.99405.40
Total Borrowing5,680.861,361.971,711.351,502.87
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Sahaj Solar IPO is Rs 197.75 Cr.

KPI as of March 31, 2024.

KPI Values
ROE39.96%
ROCE26.47%
RoNW39.96%
P/BV4.41
PAT Margin (%)6.52
Pre IPO Post IPO
EPS (Rs) 16.5812.17
P/E (x) 10.8614.79
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.

Objects of the Issue (Sahaj Solar IPO Objectives)

The Company proposes to utilize the funds which are being raised through this Offer towards the following objects:

  1. Working Capital Requirements of the Company; and
  2. General Corporate Purposes.

Sahaj Solar IPO Review (May apply)

[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...


Sahaj Solar IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
QIB214.27
NII862.35
Retail535.03
Total507.21

Total Application : 643,638 (535.03 times)

Sahaj Solar IPO Prospectus

Sahaj Solar IPO Rating

4
4.0
Rating:Rated 4.0 stars
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Sahaj Solar IPO Listing Details

Listing Date July 19, 2024
BSE Script Code
NSE Symbol SAHAJSOLAR
ISIN INE0P4701011
Final Issue Price ₹180 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹180.00
₹342.00
₹342.00
₹359.10
₹359.10

Check IPO Performance…

Sahaj Solar Limited Contact Details

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/

Sahaj Solar IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: ssl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/

Sahaj Solar IPO - Buy or Not

Sahaj Solar IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 1 0 0

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Sahaj Solar IPO FAQs

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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Sahaj Solar IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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.

The Sahaj Solar IPO listing date is on July 19, 2024.
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