Sahaj Solar IPO will open for subscription from 11 July 2024. The company aims for an issue size of ₹52.56 Cr through this IPO.
Company Overview
| Full name | Sahaj Solar Limited |
| Sector | Capital Goods |
| Industry | Engineering – Industrial Equipment |
| Company Website | https://sahajsolar.com/ |
About Company
Founded in 2010, Sahaj Solar is a renewable energy solution provider primarily engaged in manufacturing PV modules, supplying solar water pumping systems, and offering EPC services to customers across India.
- PV Module manufacturing: The company’s PV module manufacturing facility is located in Bavla, Ahmedabad, with a capacity of 100 MW. This automated facility produces both mono and polycrystalline PV modules for various solar projects in India and abroad. It also manufactures mono PERC (Passivated Emitter and Rear Contact) modules. The company’s solar PV modules, sold under the brand name ‘SAHAJ’, have built a solid reputation.
- Provision of solar water pumping systems: A solar water pump uses a Solar PV System to convert solar energy into electricity to power a motor and pump. The second key component of the solar water pumping system is the module mounting structure (MMS), which is manufactured by Veracity Energy and Infrastructure, one of our subsidiary companies.
- Providing EPC services to PAN India customers: This includes the design, supply, installation, testing, commissioning, and maintenance of projects of all sizes, from simple domestic solar installations to large-scale solar power plants.
As of 30 September 2023, the company had 64 employees across various departments, including Administration, Accounts & Finance, HR, Projects, Procurement, Plant Head, Sales & Marketing, Production & Operations, and Top-Level Management.
The Objectives of the Issue
- Working Capital Requirements of the Company; and
- General Corporate Purposes.
Sahaj Solar IPO Timetable
| IPO Opening date | 11 July 2024 |
| IPO Closing | 15 July 2024 |
| Basis of Allotment | 16 July 2024 |
| Initiation Refund | 18 July 2024 |
| Credit to Demat Account | 18 July 2024 |
| Listing Date | 19 July 2024 |
Sahaj Solar IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹52.56 Cr – 2,920,000 shares |
| Fresh Issue | ₹52.56 Cr – 2,920,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹171 to ₹180 per share |
| Lot size | 800 Shares |
| Employee Discount | ₹15 per share |
| Market Maker portion | 146,400 shares |
| Shareholding pre-issue | 8,066,010 |
| Shareholding post-issue | 10,986,010 |
| Listing Exchange | NSE SME |
Sahaj Solar IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹144,000 |
| Retail (Max) | 1 | 800 | ₹144,000 |
| HNI (Min) | 2 | 1,600 | ₹288,000 |
Sahaj Solar Offer Documents
Sahaj Solar IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 824,000 (28.22%) |
| Market Maker Shares Offered | 146,400 (5.01%) |
| QIB Shares Offered | 550,400 (18.85%) |
| NII (HNI) Shares Offered | 412,800 (14.14%) |
| Retail Shares Offered | 962,400 (32.96%) |
| Total Shares Offered | 2,920,000 (100%) |
Sahaj Solar Financial Performance
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 61.93 | 66.77 | 185.36 | 201.17 |
| Expenses | 58.91 | 62.87 | 173.99 | 176.79 |
| Net income | 0.60 | 1.02 | 6.35 | 13.16 |
Sahaj Solar Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 1.30 | 8.11 | 16.70 |
| PE ratio | – | – | 10.24 – 10.78 |
| RONW (%) | 10.21 | 38.78 | 39.96 |
| NAV | 19.19 | 20.91 | 40.83 |
| ROCE (%) | 11.37 | 35.11 | 26.47 |
| EBITDA (%) | 5.83 | 6.11 | 12.12 |
| Debt/Equity | 1.70 | 0.82 | 1.72 |
Company Promoters
- Pramit Bharatkumar Brahmbhatt
- Varna Pramit Brahmbhatt
- Manan Bharatkumar Brahmbhatt
Promoter Holding
| Pre Issue Share Holding | 97.09% |
| Post Issue Share Holding | 71.28% |
Sahaj Solar Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 18 July 2024 | 220 | – | 1,40,000 |
| 17 July 2024 | 220 | – | 1,40,000 |
| 16 July 2024 | 220 | – | 1,40,000 |
| 15 July 2024 | 220 | – | 1,40,000 |
| 12 July 2024 | 150 | – | 97,000 |
| 10 July 2024 | 120 | – | 77,000 |
| 9 July 2024 | 95 | – | 57,000 |
| 8 July 2024 | 95 | – | 57,000 |
Sahaj Solar IPO Subscription Update
| Category | Subscription (times) |
|---|---|
| QIB | 214.27 |
| NII | 862.35 |
| Retail | 535.03 |
| Total | 507.21 |
Sahaj Solar IPO Allotment Status
Sahaj Solar IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
Sahaj Solar IPO Listing Details
| Listing Date | 19 July 2024 |
| BSE Scrip Code | Nil |
| NSE Symbol | SAHAJSOLAR |
| ISIN | INE0P4701011 |
| Final Issue Price | ₹180 per share |
Sahaj Solar IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹180.00 |
| Open | ₹342.00 |
| Low | ₹342.00 |
| High | ₹359.10 |
| Last Trade | ₹359.10 |
Sahaj Solar IPO Lead Manager(s)
KUNVARJI FINSTOCK PRIVATE LIMITED
Block B, First Floor, Siddhi Vinayak Towers, Off S. G.
Highway Road, Mouje Makarba, Ahmedabad – 380051
Phone: 022 – 69850000 / 079- 66669000
Email: mb.compliances@kunvarji.com
Website: www.kunvarji.com
Sahaj Solar Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: ssl.ipo@kfintech.com
Website: www.kfintech.com
Sahaj Solar Contact Details
SAHAJ SOLAR LIMITED
Office No. 301, Ashirvad Paras Opp Prahladnagar Garden,
Satellite, Ahmedabad, Gujarat, India, 380051
Phone: +91-079-68171800
E-mail: cs@sahajsolar.com
Website: www.sahajsolar.com
Sahaj Solar IPO FAQs
What is the Sahaj Solar offer size?
Sahaj Solar offer size is ₹ 49.93 – 52.56 crores.
What is the Sahaj Solar offer price band?
Sahaj Solar public offer price is ₹ 171 – 180 per share.
What is the lot size of the Sahaj Solar IPO?
Sahaj Solar offer a lot size is 800 shares.
What is Sahaj Solar Offer GMP today?
Sahaj Solar IPO GMP today is ₹ 220 per share.
What is the Sahaj Solar kostak rate today?
Sahaj Solar kostak rate today is ₹ NA per application.
What is Sahaj Solar Subject to the Sauda rate today?
Sahaj Solar is Subject to the Sauda rate today is ₹ 1,40,000 per application.
Final thoughts
Sahaj Solar IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
