Sahaj Solar IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 11 Jul 24 – 15 Jul 24 | ₹1,36,800 | 800 | ₹171 – ₹180 |
About Sahaj Solar Limited
| Founded in | 2010 |
| Managing director | Mr. Pramit Bharatkumar Brahmbhatt |
| Parent organisation | Sahaj Solar Ltd |
Sahaj Solar is launching an IPO worth Rs 52.56 crores, offering 29.2 lakh fresh shares. The company operates in the solar power sector, focusing on making solar panels, solar water pumping systems, and providing various solar power services. They have a manufacturing plant in Bavla, Ahmedabad, Gujarat. Sahaj Solar’s subsidiary, Veracity Energy and Infrastructure Private Limited, makes mounting structures for these systems, while another subsidiary, Veracity Powertronics Private Limited, designs the controllers.
The company also makes solar mobile trolleys for use in rural and remote areas. These trolleys can generate electricity for various uses, including solar water pumping and off-grid power. Sahaj Solar offers comprehensive services for solar projects, from simple home installations to large-scale solar power plants.
The IPO subscription opened on July 11, 2024, and will close on July 15, 2024. The shares will likely be allotted on July 16, 2024, and the company is expected to be listed on the NSE SME on July 19, 2024. The IPO price range is ₹171 to ₹180 per share. Investors need to buy a minimum of 800 shares, costing at least ₹144,000 for retail investors, and ₹288,000 for high-net-worth individuals.
Kunvarji Finstock Pvt Ltd is managing the IPO, with Kfin Technologies Limited as the registrar and Aftertrade Broking as the market maker. For more details, refer to the Sahaj Solar IPO Red Herring Prospectus (RHP).
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Financial Information
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 Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 14,936.40 | 9,081.50 | 6,103.22 | 3,463.94 |
| Revenue | 20,171.55 | 18,580.48 | 6,728.95 | 6,218.78 |
| Profit After Tax | 1,337.29 | 648.37 | 102.50 | 70.58 |
| Net Worth | 3,293.12 | 1,637.30 | 1,002.05 | 922.01 |
| Reserves and Surplus | 2,496.78 | 859.22 | 479.99 | 405.40 |
| Total Borrowing | 5,680.86 | 1,361.97 | 1,711.35 | 1,502.87 |
| Amount in ₹ Lakhs | ||||
IPO Timeline
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 |
IPO FAQs
The Sahaj Solar IPO is a public offering of shares worth Rs 52.56 crores. It involves a fresh issue of 29.2 lakh shares.
The IPO opens on July 11, 2024, and closes on July 15, 2024.
Sahaj Solar operates in the solar power sector, manufacturing PV modules and solar pumping systems, and providing engineering, procurement, and construction (EPC) services.
The plant is located in Bavla, Ahmedabad, Gujarat.
Sahaj Solar’s subsidiaries include Veracity Energy and Infrastructure Private Limited, which produces mounting structures, and Veracity Powertronics Private Limited, which designs controllers for solar water pumping systems.
The price band is set at ₹171 to ₹180 per share.
The minimum investment for retail investors is ₹144,000, requiring the purchase of at least 800 shares. For high-net-worth individuals (HNIs), the minimum investment is ₹288,000 (1,600 shares).
The tentative listing date is July 19, 2024, on the NSE SME.
