Today, Sahaj Solar’s share price made a spectacular debut on NSE SME. The opening price of Sahaj Solar shares today was ₹342, which is 90% more than the ₹180 issue price.
The Sahaj Solar initial public offering (IPO) subscription period ran from Thursday, July 11, to Monday, July 15. The price range for Sahaj Solar’s initial public offering (IPO) was set at ₹171 to ₹180 per share, with a face value of ₹10. There were multiples of eight hundred shares and at least eight hundred shares for sale. On the final day of bidding, the Sahaj Solar IPO subscription status was 507.21 times.
The three individuals who are the company’s promoters are Pramit, Manan, and Varna Bharatkumar Brahmbhatt.
With nearly a decade of experience in almost every aspect of the generation of renewable energy, Sahaj Solar is a solar solutions supplier. Together, the company’s production and service offerings in the solar power sector are profitable. Solar pumping systems, photovoltaic (PV) modules, and EPC services are offered by them.
According to the company’s red herring prospectus (RHP), 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 its listed peers.
Details of the Sahaj Solar IPO
A pure offer-for-sale of up to 2,920,000 equity shares is what the ₹52.56 crore Sahaj Solar IPO is.
The proceeds from this offering will be used to meet working capital needs as well as broader business objectives.
Kfin Technologies Limited serves as the issuing registrar for the Sahaj Solar IPO, while Kunvarji Finstock Pvt Ltd is the book-running lead manager. Aftertrade Broking is operating as the market maker for the Sahaj Solar IPO.
Today’s GMP for the Sahaj Solar IPO
The current GMP for the Sahaj Solar IPO is +250. According to investorgain.com, Sahaj Solar’s share price was selling at a ₹250 premium in the gray market.
The expected listing price for Sahaj Solar’s IPO is ₹430 per share, which is 138.89% higher than the IPO price of ₹180. This is based on the top end of the pricing band and the current premium on the grey market.
The ‘grey market premium’ demonstrates investors’ willingness to pay more than the issue price.
