The Sahaj Solar IPO will start accepting subscriptions on Thursday, July 11, and will close on Monday, July 15. The price range for this IPO is set at ₹171 to ₹180 per share, with each share having a face value of ₹10. Investors can bid for a minimum of 800 shares and in multiples thereof.
In this IPO, retail investors have been allocated 35%, Qualified Institutional Buyers (QIBs) 50%, and Non-Institutional Investors (NIIs) 15% of the net offer.
Promoters
The promoters of Sahaj Solar are Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhatt.
About Sahaj Solar
Sahaj Solar has nearly a decade of experience in renewable energy production, offering both manufacturing and services in the solar power sector. The company works on three main projects:
- Manufacturing PV modules
- Selling solar pumping systems
- Providing EPC services (Engineering, Procurement, and Construction)
Clients
Sahaj Solar’s top domestic clients include:
- Government Clients: Maharashtra State Electricity Distribution Co. Ltd., GEDA, HAREDA, PGVCL, DGVCL, MGVCL
- Private Clients: Iron Mountain, Tenneco, Valeo, Rotomag, Premier Solar, Shekhani Industries, Mahindra Susten Private Limited, Mahindra Solarize Private Limited
Financial Performance
From March 31, 2023, to March 31, 2024, Sahaj Solar’s profit after tax (PAT) increased by 106.25%, and its revenue grew by 8.56%.
IPO Details
- IPO Size: ₹52.56 crore
- Offer Type: Purely offer-for-sale of up to 2,920,000 equity shares
- Purpose: Funds from this offer will be used for working capital requirements and general corporate purposes.
- Book Running Lead Manager: Kunvarji Finstock Pvt Ltd
- Registrar: Kfin Technologies Limited
- Market Maker: Aftertrade Broking
Grey Market Premium (GMP)
As of today, the Sahaj Solar IPO GMP is +144. This means shares of Sahaj Solar are trading at a ₹144 premium in the grey market, according to investorgain.com. Considering the upper end of the IPO price band (₹180) and the current grey market premium, the expected listing price of Sahaj Solar shares is around ₹324 each, which is 80% higher than the IPO price.
The grey market premium indicates how much investors are willing to pay over the issue price.
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