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19 Nov 2024
The Sahaj Solar Limited IPO, which opened on July 11, 2024, will close on July 15, 2024. Those interested in this IPO, set to list on the NSE SME Emerge platform, should note that bidding ends next Monday.
The alternative energy company aims to raise ₹52.56 crore from this entirely fresh offer. After two days of bidding, the IPO has received strong interest from Indian primary market investors.
The Sahaj Solar IPO's subscription status and the positive market sentiment have driven a bullish outlook in the grey market, with shares trading at a ₹164 premium today.
Currently, the Sahaj Solar IPO GMP (grey market premium) is ₹164, up ₹3 from Friday. The robust response from primary market investors indicates strong confidence in the company's prospects, contributing to the bullish sentiment in the unlisted share market.
Market observers predict the GMP might rise further on Monday, provided the bullish trend on Dalal Street continues. However, experts caution that the grey market is unregulated and investors should not rely solely on GMP. They advise thorough analysis of the company's balance sheet, which details its financial health, including assets, liabilities, and equity, to make informed investment decisions.
After two days, the IPO has been subscribed over 64 times, with bids for 18,74,90,400 shares against 29,20,00 shares offered. The retail segment saw 152 times subscription, with 14,67,84,800 bids for 9,62,400 offered shares. The NII portion was subscribed over 94 times, while the QIB segment was filled 3.18 times.
For FY24, Sahaj Solar Limited reported a 106 percent YoY increase in PAT, indicating strong profitability, and an 8.50 times surge in revenue, reflecting robust sales growth. Over the past three years, the company has consistently increased its PAT, income, and assets, showcasing financial stability and growth potential for a small company.
As the bidding period for the Sahaj Solar IPO ends on July 15, 2024, the strong response is notable. The IPO price band is set at ₹171 to ₹180 per equity share. The allotment date is expected on July 16, 2024, and the listing date is expected on July 18, 2024. The overwhelming response suggests a positive future for Sahaj Solar Limited.
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