Sahaj Solar IPO: Check Subscription Status, GMP Today
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Sahaj Solar IPO: The initial public offering (IPO) of Sahaj Solar Limited, which has been opened for public subscription on July 11, has received a strong response from the investors. Till 10:24 am on the first day of bidding on Thursday, the 52.56-crore IPO received 4.4 times subscription, garnering bids for 92,16,800 shares as against 20,96,000 shares on offer.
The price band of the IPO has been fixed at Rs 171-Rs 180 apiece.
Investors need to apply for a minimum of 800 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,44,000 [800 (lot size) x Rs 180 (upper price band)].
The Sahaj Solar IPO allotment will likely be finalised on July 16, while its listing will take place on the NSE SME on July 19.
Sahaj Solar IPO GMP Today
According to market observers, unlisted shares of Sahaj Solar Ltd are trading Rs 164 higher in the grey market as compared with its issue price. The Rs 164 grey market premium or GMP means the grey market is expecting a 91.11 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Sahaj Solar IPO: More Details
The Sahaj Solar IPO is entirely a fresh issue of 29.2 lakh shares.
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions.
The company has three business units — 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.
Sahaj Solar’s revenue rose 8.56 per cent and profit after tax (PAT) increased 106.25 per cent in the financial year 2023-24.
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.
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