The initial public offering (IPO) of Sahaj Solar Limited began on July 11, 2024, and will close on July 15, 2024. Investors looking to buy shares in this IPO, which is set to list on the NSE SME Emerge platform, have until Monday next week to place their bids. The alternative energy company aims to raise ₹52.56 crore from this IPO, all of which is fresh issuance. The response from investors has been very positive, with the IPO seeing strong interest in its first two days. This enthusiasm is reflected in the grey market, where Sahaj Solar shares are currently trading at a premium.
Sahaj Solar IPO Grey Market Premium (GMP)
As of today, the GMP for Sahaj Solar IPO is ₹164, which is ₹3 higher than the GMP on Friday. This increase in GMP indicates strong investor confidence and suggests that the IPO is attracting significant interest. However, experts caution that the grey market is not regulated, and investors should focus on the company’s financial health by analyzing its balance sheet before making any decisions.
Subscription Status
After two days of bidding, the Sahaj Solar IPO has been subscribed over 64 times. The IPO received bids for 18,74,90,400 shares against the 29,20,000 shares on offer. The retail portion was particularly popular, being subscribed over 152 times with 14,67,84,800 bids for 9,62,400 shares. The Non-Institutional Investor (NII) portion was subscribed over 94 times, and the Qualified Institutional Buyer (QIB) segment was filled 3.18 times.
Review
For the fiscal year 2024, Sahaj Solar Limited reported a 106% year-over-year increase in profit after tax (PAT), with revenue growing 8.50 times. Over the past three years, the company has consistently increased its PAT, income, and assets, indicating strong financial stability and growth potential.
IPO Details
The IPO price band for Sahaj Solar is set at ₹171 to ₹180 per equity share. The allotment date for the IPO is expected on July 16, 2024, with the listing date likely on July 18, 2024. The strong subscription numbers and positive market sentiment suggest a bright future for Sahaj Solar Limited.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
