Bookbuilding IPO | ₹53 Cr | Listed at NSE SME | Thu, Jul 11, 2024 - Mon, Jul 15, 2024
Sahaj Solar IPO is a book build issue of ₹52.52 crores. The issue is entirely a fresh issue of 0.29 crore shares of ₹52.52 crore.
Sahaj Solar IPO bidding started from Jul 11, 2024 and ended on Jul 15, 2024. The allotment for Sahaj Solar IPO was finalized on Jul 16, 2024. The shares got listed on NSE SME on Jul 19, 2024.
Sahaj Solar IPO price band is set at ₹180 per share. The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,44,000 (800 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,600 shares), amounting to ₹2,88,000.
The issue includes a reservation of up to 24,000 shares for employees offered at a discount of ₹15.00 to the issue price.
Kunvarji Finstock Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Aftertrade Broking Pvt.Ltd..
Refer to Sahaj Solar IPO RHP for detailed Information.
IPO Open
Thu, Jul 11, 2024
IPO Close
Mon, Jul 15, 2024
Issue Price
₹180 per share
Market Cap (Pre-IPO)
₹197.75 Cr
| IPO Date | 11 to 15 Jul, 2024 |
| Listed on | Fri, Jul 19, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹171 to ₹180 |
| Issue Price | ₹180 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Employee Discount | ₹15.00 |
| Total Issue Size | 29,20,000 shares (agg. up to ₹53 Cr) |
| Reserved for Market Maker | 1,46,400 shares Aftertrade Broking Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 27,73,600 shares (agg. up to ₹50 Cr) |
| Net Offered to Public | 27,73,600 shares (agg. up to ₹50 Cr) |
| Share Holding Pre Issue | 80,66,010 shares |
| Share Holding Post Issue | 1,09,86,010 shares |
| NSE Symbol | SAHAJSOLAR |
| ISIN | INE0P4701011 |
Sahaj Solar IPO comprises a total issue size of 29,20,000 shares. The net offer to the public is 27,49,600 shares, after excluding 1,46,400 shares allotted on a firm basis and 24,000 shares under a preferential allotment. Of the Net offer 13,74,400 (49.99%) are allocated to QIB, 4,12,800 (15.01%) allocated to NII 9,62,400 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 13,74,400 | 49.99% | 47.07% |
| − Anchor Investor Shares Offered | 8,24,000 | 28.22% | |
| − QIB (Ex. Anchor) Shares Offered | 5,50,400 | 18.85% | |
| NII (HNI) Shares Offered | 4,12,800 | 15.01% | 14.14% |
| Retail Shares Offered | 9,62,400 | 35.00% | 32.96% |
| Preferential Reservations | |||
| Employee Shares Offered | 24,000 | 0.82% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,46,400 | 5.01% | |
| Total Shares Offered | 29,20,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,44,000 |
| Retail (Max) | 1 | 800 | ₹1,44,000 |
| HNI (Min) | 2 | 1,600 | ₹2,88,000 |
Sahaj Solar IPO raises ₹14.83 crore from anchor investors. Sahaj Solar IPO Anchor bid date is July 10, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Jul 10, 2024 |
| Shares Offered | 8,24,000 |
| Anchor Portion (₹ Cr.) | 14.83 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Aug 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Oct 14, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions.
The company has three business units:
As of September 30, 2023, the company employed over 64 people in the areas of administration, accounting and finance, human resources, projects, procurement, operations manager, sales and marketing, production and operations, and top management.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 149.36 | 90.82 | 61.03 | 34.64 |
| Total Income | 201.72 | 185.80 | 67.29 | 62.19 |
| Profit After Tax | 13.37 | 6.48 | 1.03 | 0.71 |
| NET Worth | 32.93 | 16.37 | 10.02 | 9.22 |
| Reserves and Surplus | 24.97 | 8.59 | 4.80 | 4.05 |
| Total Borrowing | 56.81 | 13.62 | 17.11 | 15.03 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements of the Company | |
| 2 | General Corporate Purposes |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 39.96% |
| ROCE | 26.47% |
| RoNW | 39.96% |
| PAT Margin | 6.52% |
| Price to Book Value | 4.41 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 16.58 | 12.17 |
| P/E (x) | 10.86 | 14.79 |
| Promoter Holding | 97.08% | 71.28% |
| Market Cap | ₹197.75 Cr. |
The Sahaj Solar IPO is subscribed 507.21 times on July 15, 2024 6:17:00 PM (Day 3). The public issue subscribed 535.03 times in the retail category, 214.27 times in the QIB category, and 862.35 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 214.27 | 5,50,400 | 11,79,33,600 |
| NII* | 862.35 | 4,12,800 | 35,59,78,400 |
| Retail | 535.03 | 9,62,400 | 51,49,09,600 |
| Total | 507.21 | 19,49,600 | 98,88,48,000 |
Total Application : 6,43,638
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLM including fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | |
| 2 | Brokerage and selling commission | |
| 3 | Printing & Stationery, Distribution, Postage, etc. | |
| 4 | Advertisement and Marketing Expenses | |
| 5 | Stock Exchange Fees, Regulatory and other Expenses |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹180.00 |
| Open | ₹342.00 |
| Low | ₹342.00 |
| High | ₹359.10 |
| Last Trade | ₹359.10 |
Lead Manager Reports
Sahaj Solar IPO is a SME IPO of 29,20,000 equity shares of the face value of ₹10 aggregating up to ₹53 Crores. The issue is priced at ₹180 per share. The minimum order quantity is 800.
The IPO opens on Thu, Jul 11, 2024, and closes on Mon, Jul 15, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sahaj Solar IPO using UPI as a payment gateway. Zerodha customers can apply in Sahaj Solar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sahaj Solar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sahaj Solar IPO opens on Thu, Jul 11, 2024 and closes on Mon, Jul 15, 2024.
Sahaj Solar IPO lot size is 800, and the minimum amount required for application is ₹1,44,000.
You can apply in Sahaj Solar IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sahaj Solar IPO will be done on Tuesday, July 16, 2024, and the allotted shares will be credited to your demat account by Thu, Jul 18, 2024. Check the Sahaj Solar IPO allotment status.
The Sahaj Solar IPO listing date is on Fri, Jul 19, 2024.
