Subscriptions for the Sahaj Solar IPO began on Thursday, July 11, and will end on Monday, July 15. Sahaj Solar’s IPO price range is ₹171-₹180 per share, with a face value of ₹10. At least 800 shares are up for bid, as well as multiples of those shares.
The net offer has been divided as follows: 35% is reserved for retail investors, 50% for QIB, and 15% for NII (HNI).
The promoters of the company are Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhat.
Sahaj Solar is a solar solution provider with roughly ten years of experience in the majority of renewable energy-producing industries. The corporation benefits from the company’s dual offering of solar power production and services. They make photovoltaic (PV) modules, sell solar pumping systems, and offer EPC services.
The top domestic clients are broken out as follows: Among the government clients are Maharashtra State Electricity Distribution Co Ltd, GEDA, HAREDA, PGVCL, DGVCL, and MGVCL. Among the private clientele are Iron Mountain, Tenneco, Valeo, Rotomag, Premier Solar, Shekhani Industries, Mahindra Susten Private Ltd, and Mahindra Solarize Private Limited.
The red herring prospectus (RHP) states that 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) are the company’s listed rivals.
Status of Sahaj Solar’s IPO subscription
As of day one, Sahaj Solar’s IPO subscription status is at 12.84 times.
There were 22.04 subscriptions for the retail portion and 9.25 bookings for the NII portion. There is no reservation for Qualified Institutional Buyers.
At 11:43 IST, the company got bids for 2,50,38,400 shares compared to the 19,49,600 shares that were on offer, per information found on chittorgarh.com.
Details of Sahaj Solar’s IPO
The ₹52.56 crore Sahaj Solar initial public offering (IPO) is limited to the sale of up to 2,920,000 equity shares.
The company plans to use the money collected from this offer for working capital needs as well as broader corporate goals.
The issue registrar of the Sahaj Solar IPO is Kfin Technologies Limited, while the book-running lead manager is Kunvarji Finstock Pvt Ltd. For the Sahaj Solar IPO, Aftertrade Broking is serving as the market maker.
Today’s IPO GMP for Sahaj Solar
Today’s IPO GMP for Sahaj Solar is +164. According to investorgain.com, this shows that the price of Sahaj Solar shares was selling at a premium of ₹164 on the black market.
Taking into account the upper limit of the IPO price range and the existing premium in the secondary market, the Sahaj Solar IPO was predicted to list at ₹344, which is 91.11% more than the IPO price of ₹180.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
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