Sahaj Solar IPO Allotment: Investor interest in renewable energy solutions company Sahaj Solar’s initial public offering (IPO) has been huge. Investors are waiting for the allotment of Sahaj Solar IPO but as the subscription period has already expired, the IPO is scheduled to close today.
Sahaj Solar IPO opened on July 11 and closed on July 15. Today, July 16, is the allotment date for Sahaj Solar IPO. The company will decide based on allotment soon.
On July 18, the company will start depositing shares into the demat accounts of eligible investors and will start refunding unsuccessful bidders.
Investors can check the Sahaj Solar IPO allotment status online through the official IPO registrar portal or the NSE website. The registrar for Sahaj Solar IPO is Kfin Technologies.
Check Sahaj Solar IPO allotment status
Step 1: Click on this link to visit the IPO registrar website: https://kosmic.kfintech.com/ipostatus/
Step 2: Select Sahaj Solar Limited using the ‘Select’ ‘IPO’ drop-down box.
Step 3: Select your PAN, Demat Account, or Application Number.
Step 4: Enter the details based on the option you have selected.
Step 5: After entering the captcha code, select Submit.
The status of your Solar IPO allotment will appear on the screen.
GMP for Sahaj Solar IPO
Sahaj Solar shares being offered in the private market will fetch a corresponding premium. Stock market players are currently estimating the GMP or grey market premium for Sahaj Solar’s IPO to be ₹240 per share. This means that Sahaj Solar shares are trading in the grey market at ₹240 above the issue price.
Considering the IPO issue price and GMP as of now, a premium of 133.33% is expected over the IPO price of ₹180 per share, putting Sahaj Solar’s expected IPO price at ₹420 per share.
However, with the NSE setting a price cap at 90% of the listing price for SME IPOs, Sahaj Solar’s ordinary shares are likely to be listed at ₹342 per share.
Sahaj Solar IPO Subscription
Sahaj Solar IPO received a total subscription of 507.21 million. 98.88 million common shares were subscribed in the public offering as against 19.49 million shares offered for sale.
The initial public offering (IPO) saw 535.03 individual subscribers, 214.27 qualified institutional buyers (QIBs), and 862.35 non-institutional investors (NIIs) subscribed.
Sahaj Solar IPO Details
Sahaj Solar IPO was held on Thursday, July 11, and closed on Monday, July 15. The IPO is scheduled for July 19 and the allotment of shares is expected to be completed today, July 16. NSE SME plans to list shares of Sahaj Solar.
The price band for Sahaj Solar’s IPO was ₹171-₹80 per share. The bookbuilding issue, which consisted of an issue of only 292,000 shares, enabled the company to raise ₹525,000.
The IPO registrar is Kfin Technologies and the bookrun lead manager is Kunvarji Finstock Pvt Ltd.
Sahaj Solar is a provider of sustainable energy products. The Company intends to use the IPO proceeds for general corporate activities and working capital requirements.
Pramit, Varuna, and Manan Brahmbhatt are the founders of Sahaj Solar Ltd.
