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16 Nov 2024
Sahaj Solar Limited IPO
Sahaj Solar is a Solar Solutions company with experience of almost one decade in most of the verticals of renewable power generation. They are a manufacturing and service Provider Company that gives them an edge in the solar power market. They are engaged in three businesses: PV Module manufacturing, solar pumping systems, and EPC Services. They strive to deliver reliable solar solutions through their products and they achieve this majorly through their streamlined PV module manufacturing line and comprehensive EPC solutions.
Sahaj Solar IPO is a book-built issue of Rs 52.56 crores. The issue is entirely a fresh issue of 29.2 lakh shares. Sahaj Solar IPO opens for subscription on July 11, 2024 and closes on July 15, 2024. Sahaj Solar IPO price band is set at ₹171 to ₹180 per share. The minimum lot size for an application is 800 Shares. Kunvarji Finstock Pvt Ltd is the book-running lead manager of the Sahaj Solar IPO, while Kfin Technologies Limited is the registrar for the issue.
Sahaj Solar IPO Overview
| Detail | Description |
|---|---|
| IPO Date | July 11, 2024 to July 15, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹171 to ₹180 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 2,920,000 shares (aggregating up to ₹52.56 Cr) |
| Fresh Issue | 2,920,000 shares (aggregating up to ₹52.56 Cr) |
| Employee Discount | Rs 15 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 8,066,010 |
| Shareholding post issue | 10,986,010 |
| Market Maker portion | 146,400 shares |
Sahaj Solar IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Thursday, July 11, 2024 |
| IPO Close Date | Monday, July 15, 2024 |
| Basis of Allotment | Tuesday, July 16, 2024 |
| Initiation of Refunds | Thursday, July 18, 2024 |
| Credit of Shares to Demat | Thursday, July 18, 2024 |
| Listing Date | Friday, July 19, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 15, 2024 |
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 IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Sahaj Solar IPO Promoter Holding
| Share Holding Pre Issue | 97.09% |
| Share Holding Post Issue | 71.28% |
Company & Financials
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions.
The company has three business units:
- ● PV module manufacturing: The company's PV module manufacturing facility is located at Bavla, Ahmedabad, Gujarat. It is spread over an area of 2,883.77 square meters and has a building of 2445.5 square meters comprising both factory and office space. The plant has a capacity of 100 MW. The company's automated manufacturing facility offers mono and polycrystalline PV modules for various solar projects in India and abroad. The facility also manufactures a mono PERC (Passivated Emitter and Rear Contact) module.
- ● Provision of solar water pumping systems.
- ● Providing EPC services to PAN India customers: This includes design, supply, installation, testing, commissioning and maintenance of projects of all sizes, from a simple domestic solar system to a large solar power plant set-up.
Sahaj Solar Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 8,483.62 | 9,081.50 | 6,103.22 | 3,463.94 | ||||||||||||||||||||||||||||||||||||
| Revenue | 6,110.30 | 18,580.48 | 6,728.95 | 6,218.78 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 207.48 | 648.37 | 102.50 | 70.58 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,836.08 | 1,637.30 | 1,002.05 | 927.45 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 1,063.00 | 859.22 | 479.99 | 405.40 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,655.72 | 1,241.72 | 1,711.35 | 1,502.87 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 39.96% |
| ROCE | 26.47% |
| RoNW | 39.96% |
| P/BV | 4.41 |
| PAT Margin (%) | 6.52 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 16.58 | 12.17 |
| P/E (x) | 10.86 | 14.79 |
Objectives of Sahaj Solar IPO
The Company proposes to utilize the funds which are being raised through this Offer towards the following objectives:
- 1. Working Capital Requirements of the Company.
- 2. General Corporate Purposes.
Sahaj Solar IPO Review
We are currently witnessing 1 out of 3 IPO for this segment and thus it is getting overcrowded. Many companies want to increase the ongoing fancy for such companies. This company is in the renewable energy segment with three verticals i.e. PV module manufacturing, solar power pumps and EPC in renewable energy. It marked growth in its top and bottom lines for the reported periods. Based on FY24 super earnings, the issue is fully priced. Well-informed/cash surplus investors may park moderate funds for long-term rewards.
FAQs for Sahaj Solar IPO
-
What is Sahaj Solar IPO?
Sahaj Solar IPO is an NSE SME IPO. They are going to raise ₹52.56 Crores via IPO. The issue is priced at ₹171 to ₹180 per equity share. The IPO is to be listed on NSE.
-
When will Sahaj Solar IPO open?
The IPO is to open on July 11, 2024, for QIB, NII, and Retail Investors.
-
What is Sahaj Solar IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Sahaj Solar IPO Size?
Sahaj Solar's IPO size is ₹52.56 crores.
-
What is the Sahaj Solar IPO Price Band?
Sahaj Solar's IPO Price Band is ₹171 to ₹180 per equity share.
-
What is Sahaj Solar IPO Minimum and Maximum Lot Size?
The IPO bid is 800 shares with ₹144,000.
-
What is Sahaj Solar IPO Allotment Date?
Sahaj Solar IPO allotment date is July 16, 2024.
-
What is Sahaj Solar IPO Listing Date?
Sahaj Solar IPO listing date is July 19, 2024. The IPO to list on NSE SME.
RHP:
RHP of Sahaj Solar Limited IPO
DRHP:
DRHP of Sahaj Solar Limited IPO
-
What is Sahaj Solar IPO?
Sahaj Solar IPO is an NSE SME IPO. They are going to raise ₹52.56 Crores via IPO. The issue is priced at ₹171 to ₹180 per equity share. The IPO is to be listed on NSE.
-
When will Sahaj Solar IPO open?
The IPO is to open on July 11, 2024, for QIB, NII, and Retail Investors.
-
What is Sahaj Solar IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Sahaj Solar IPO Size?
Sahaj Solar's IPO size is ₹52.56 crores.
-
What is the Sahaj Solar IPO Price Band?
Sahaj Solar's IPO Price Band is ₹171 to ₹180 per equity share.
-
What is Sahaj Solar IPO Minimum and Maximum Lot Size?
The IPO bid is 800 shares with ₹144,000.
-
What is Sahaj Solar IPO Allotment Date?
Sahaj Solar IPO allotment date is July 16, 2024.
-
What is Sahaj Solar IPO Listing Date?
Sahaj Solar IPO listing date is July 19, 2024. The IPO to list on NSE SME.
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