The initial public offering (IPO) price range for Sahaj Solar has been set at ₹171 to ₹180 per share, with a face value of ₹10. Subscriptions for the Sahaj Solar IPO opened on Thursday, July 11, and will run through Monday, July 15. There are at least 800 shares available for bidding, as well as multiples of those shares.
The net offer has been split as follows: 35% is allocated for retail investors, 50% went to QIB, and 15% has been set aside to NII (HNI).
Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhatt are the promoters of the business.
Sahaj Solar is a solar solution supplier with about 10 years of experience in the majority of fields pertaining to renewable energy generation. The firm benefit from the company’s dual offering of production and services in the solar power industry. They manufacture photovoltaic (PV) modules, market solar pumping systems, and provide EPC services.
Sahaj Solar’s top domestic clients includes Maharashtra State Electricity Distribution Co Ltd, GEDA, HAREDA, PGVCL, DGVCL, and MGVCL are among the government clients. Iron Mountain, Tenneco, Valeo, Rotomag, Premier Solar, Shekhani Industries, Mahindra Susten Private Ltd, and Mahindra Solarize Private Limited are a few examples of private clientele.
The company’s listed peers, according to the red herring prospectus (RHP), include Solex Energy Ltd (P/E of 74.18), Zodiac Energy Ltd (P/E of 51.62), and Shakti Pumps (India) Ltd (P/E of 17.34).
Sahaj Solar IPO subscription status
Sahaj Solar IPO subscription status is 12.84 times, on day 1, so far.
The retail portion was subscribed 22.04 times, and NII portion was booked 9.25 times. Qualified Institutional Buyers has not been booked.
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.
The business intends to use the funds raised by this offer for both general corporate objectives and working capital requirements.