Sahaj Solar IPO: Subscription Details, Price Range, Company Profile & More

Sahaj Solar IPO: Subscription Details, Price Range, Company Profile & More

Subscriptions for the Sahaj Solar IPO opened on Thursday, July 11, and will continue until Monday, July 15. The IPO price range is set at ₹171 to ₹180 per share, with a face value of ₹10. Investors can bid for a minimum of 800 shares and in multiples thereof.

Allocation Breakdown

The IPO’s net offer is divided among different investor categories:

• 35% for retail investors
• 50% for Qualified Institutional Buyers (QIB)
• 15% for Non-Institutional Investors (NII or HNI)

Company Background

Sahaj Solar, led by promoters Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhatt, specializes in solar solutions with over a decade of experience. They operate across various renewable energy segments, manufacturing photovoltaic modules, solar pumping systems, and Engineering, Procurement, and Construction (EPC) services.

Clientele

Their clientele includes both government bodies like Maharashtra State Electricity Distribution Co Ltd, GEDA, HAREDA, PGVCL, DGVCL, MGVCL, as well as private entities such as Iron Mountain, Tenneco, Valeo, Rotomag, Premier Solar, and others in the solar industry.

Comparison with Peers

According to the red herring prospectus (RHP), Sahaj Solar’s listed peers include Solex Energy Ltd, Zodiac Energy Ltd, and Shakti Pumps (India) Ltd, each with their respective Price-to-Earnings (P/E) ratios.

Subscription Status

As of day 1, the Sahaj Solar IPO has been subscribed 42.23 times. Notably, the retail portion saw a subscription of 68.27 times, while the NII portion was subscribed 40.11 times. Qualified Institutional Buyers subscribed to 10% of their allocated portion.

Details of the IPO

The Sahaj Solar IPO aims to raise ₹52.56 crore through an offer-for-sale of up to 2,920,000 equity shares. The funds will support general corporate purposes and working capital needs.

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Key Players

Kunvarji Finstock Pvt Ltd is the book running lead manager, with Kfin Technologies Limited as the issue registrar. Aftertrade Broking is the market maker for the Sahaj Solar IPO.

Grey Market Premium (GMP)

As per investorgain.com, the Grey Market Premium (GMP) for Sahaj Solar IPO is currently +164, indicating a premium of ₹164 per share in the unofficial grey market trading.