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17 August 2023

Ahasolar Technologies IPO: Illuminating a Greener Future through CleanTech

Introduction:

Established in 2017, Ahasolar Technologies Limited is a pioneering CleanTech company dedicated to driving Energy Transition through Digital Transformation. With an unwavering commitment to renewable energy, Ahasolar empowers stakeholders, including solar companies and governments, to embrace sustainable practices and adopt clean energy solutions.

Empowering Clean Energy Adoption:

Fuelled by a passion for solar energy, Ahasolar is revolutionising the solar energy landscape. The company simplifies the management, design, sale, and procurement of solar PV systems, making renewable energy more accessible and straightforward. Ahasolar's innovative approach fosters a seamless transition to clean energy solutions and supports stakeholders in their quest for a sustainable future.

Diverse Business Segments:

Ahasolar's business operations span multiple vital segments:

1. Solar Software Service: Equipped with cutting-edge technology, Ahasolar offers software solutions that streamline solar energy processes.
2. Solar Marketplace: A platform that connects solar companies, government bodies, and private enterprises, facilitating the adoption of solar PV systems.
3. Solar Advisory and Consultancy Service: Ahasolar provides expert guidance for sustainable development and energy transition, facilitating the shift towards renewable energy sources.

Wide-ranging Impact:

Ahasolar collaborates with both national and international partners, serving as a catalyst for solar adoption. By delivering innovative solutions, the company accelerates the integration of solar technologies and contributes to a greener planet. Ahasolar's expertise extends beyond technology; it engages in advisory services for sustainable development, promoting the global shift towards renewable energy.

Product Offerings:

Ahasolar's product portfolio includes the acclaimed:

- AHA! Rooftop Solar Helper: A comprehensive solution designed to simplify solar PV system management.
- AHA! Rooftop Solar Helper (Pro): An advanced version catering to more intricate solar energy requirements.

IPO Details:

Ahasolar Technologies' IPO, a Fixed Price Issue, aims to raise ₹12.85 Crores. The IPO is priced at ₹157 per share and will be listed on the BSE SME. The subscription window for the IPO was open from July 10, 2023, to July 13, 2023, with the listing date set for July 21, 2023.

Promoters and Shareholding:

Promoters of Ahasolar Technologies, including Mr. Piyushkumar Vasantlal Bhatt, Mr. Pulkit Dhingra, Mr. Shatrughan Harinarayan Yadav, and Mr. Vipin Sharma, collectively hold 50.31% of the pre-issue shareholding, which is expected to reduce to 36.95% post the IPO.

Promoter Holding:

Utkarsh CoreInvest Limited holds the reins of the bank as its promoter. The pre-issue shareholding stands at 84.75%, which is expected to reduce to 69.28% post the IPO.

Financial Performance

Ahasolar Technologies has exhibited robust financial growth:

Total Assets	₹138.63 Lakhs to ₹525.56 Lakhs
Total Revenue	₹128.70 Lakhs to ₹2,105.16 Lakhs
Profit After Tax	₹2.07 Lakhs to ₹176.38 Lakhs
Net Worth	₹2.16 Lakhs to ₹405.07 Lakhs
Reserves and Surplus	₹1.16 Lakhs to ₹178.69 Lakhs

Expert Review:

Ahasolar Technologies claims a near-monopoly in solar energy-related digital services, a testament to its comprehensive offerings. With its impressive FY22 and FY23 performance, the company is positioned for continued growth. Although the IPO is priced aggressively, well-informed investors may find potential for medium to long-term rewards.

Conclusion:

Ahasolar Technologies' IPO offers investors an opportunity to support a pioneering force in clean energy adoption. As the company enables stakeholders to transition to renewable energy through digital transformation, investors must evaluate their investment goals and consider the expert review's insights. With a commitment to a greener future and a diverse portfolio of solar solutions, Ahasolar is at the forefront of driving sustainable change. Whether to be part of this transformative journey lies in the hands of investors ready to champion clean energy and innovation.

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