Sahaj Solar IPO opens tomorrow, check GMP, price band to issue size

  • Sahaj Solar IPO subscriptions start on July 11 and end on July 15, priced at 171-180 per share. Retail investors get 35%, QIB 50%, and NII 15% allocation. Company offers solar solutions with expertise in PV modules, solar pumping systems, and EPC services.

Dhanya Nagasundaram
First Published10 Jul 2024, 04:04 PM IST
Sahaj Solar IPO is scheduled to begin subscriptions on Thursday, July 11, and end on Monday, July 15.
Sahaj Solar IPO is scheduled to begin subscriptions on Thursday, July 11, and end on Monday, July 15. (https://sahajsolar.com/)

Sahaj Solar IPO is scheduled to begin subscriptions on Thursday, July 11, and end on Monday, July 15. The pricing range for the Sahaj Solar initial public offering is 171 to 180 per share, with a face value of 10. A minimum of 800 shares, as well as multiples of those shares, are up for bid.

Retail investors has beenoffered 35%,QIB has been allocated50% of the net offer, and the NII (HNI) have been allocated15.00% of the offer.

The company's promoters are Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhatt.

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Sahaj Solar is a provider of solar solutions with almost ten years of expertise in most sectors related to the production of renewable energy. We have an advantage in the solar power sector since the firm provides both manufacturing and services. They work on three different projects: making PV modules, selling solar pumping systems, and offering EPC services.

 

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The top domestic clients are split up as follows: Government clients include Maharashtra State Electricity Distribution Co. Ltd., GEDA, HAREDA, PGVCL, DGVCL, and MGVCL. Private clients include Iron Mountain, Tenneco, Valeo, Rotomag, Premier Solar, Shekhani Industries, Iron Mountain, Mahindra Susten Private Limited, and Mahindra Solarize Private Limited.

As per the red herring prospectus (RHP), the company's listed peers are Shakti Pumps (India) Ltd (with a P/E of 17.34), Zodiac Energy Ltd (with a P/E of 51.62), and Solex Energy Ltd (with a P/E of 74.18).

Between March 31, 2024, and March 31, 2023, Sahaj Solar Ltd's profit after tax (PAT) climbed by 106.25%, while its revenue increased by 8.56%.

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Sahaj Solar IPO details

The Sahaj Solar IPO, worth 52.56 crore, is purely an offer-for-sale of up to 2,920,000 equity shares.

Working capital requirements and general corporate purposes are the two purposes for which the company plans to use the fund generated via this offer.

The Sahaj Solar IPO's book running lead manager is Kunvarji Finstock Pvt Ltd, while the issue's registrar is Kfin Technologies Limited. For the Sahaj Solar IPO, Aftertrade Broking is the market maker.

Sahaj Solar IPO GMP today

Sahaj Solar IPO GMP today is +144. This indicates Sahaj Solar share price were trading at a premium of 144 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Sahaj Solar IPO expected listing price was indicated at 324 apiece, which is 80% higher than the IPO price of 180.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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First Published:10 Jul 2024, 04:04 PM IST
HomeMarketsIPOSahaj Solar IPO opens tomorrow, check GMP, price band to issue size

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