Sahaj Solar IPO: Sahaj Solar Limited’s initial public offering (IPO) began on July 11, 2024, and will run until July 15, 2024. Those interested in applying for the public issue planned for listing on the NSE SME Emerge platform should be aware that bidding for the Sahaj Solar IPO will close today evening. The alternative energy firm hopes to collect ₹52.56 crore with a new initial offering. The IPO subscription after two days of bidding shows that Indian primary market investors responded well to the NSE SME IPO. The Sahaj Solar IPO has caused the grey market to become exceedingly bullish, after the critical IPO subscription status and positive sentiment in the Indian stock market. Sahaj Solar Limited shares are currently trading at a ₹164 premium in the grey market, according to stock market experts.
Today’s GMP for the Sahaj Solar IPO
Today’s IPO GMP (grey market premium) is ₹164, up ₹3 from Friday’s price. The public offering garnered a robust reaction from primary market investors, demonstrating their belief in the company’s prospects. This optimistic feeling has also allowed the public issue to fly under the bulls’ radar in the unlisted share market, indicating a favorable market environment for the IPO. They expect that Sahaj Solar IPO GMP will rise more on Monday, assuming the bullish trend on Dalal Street continues.
It is crucial to note that stock market professionals warn that the gray market is unregulated, and GMP should not be taken too seriously. They encourage IPO investors to thoroughly examine the company’s balance sheet, which provides a complete view of the company’s financial health, including assets, liabilities, and equity. This precaution is critical for making sound investing judgments.
Subscription status for Sahaj Solar’s IPO
By 10:11 a.m. on the third day of bidding, the NSE SME IPO had been booked over 74 times, with offers for 21,61,93,600 company shares against 29,20,00 company shares issued by the business in the primary market. There have been over 174 bookings for the retail portion of the book build issue, with bids for 16,83,56,000 shares in the retail segment compared to 9,62,400 shares offered. The NII portion of the book build issue has been booked over 111 times, while the QIB portion of the public offer has been filled 3.18 times.
Sahaj Solar’s Initial Public Offering Review
Sahaj Solar Limited’s PAT, a crucial metric of profitability, increased by more than 106 percent year on year in FY24, while revenue increased by 8.50 times, indicating robust sales growth. In the last three fiscal years, the company has reported increases in PAT, income, and assets, which is a good indicator for a small company like Sahaj Solar Limited, showing financial stability and development potential.
Details on the Sahaj Solar IPO
As the bidding time for the Sahaj Solar IPO nears its close on July 15, 2024, it’s worth noting the significant response to the public offering. Sahaj Solar’s IPO price band is set at ₹171 to ₹180 per equity share. The IPO allotment date is expected on July 16, 2024, which is Tuesday next week, and the IPO listing day is expected on July 18, 2024, which is Thursday next week. This significant response bodes well for Sahaj Solar Limited’s prospects.
