Sahaj Solar IPO opens for subscription. Check issue size, price band, GMP and other details

The SME IPO of Sahaj Solar has opened for subscription today and will close on July 15. The company aims to raise about Rs 52.26 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) About Sahaj Solar
The company is a solar solutions provider having experience of more than one decade in the majority of the verticals of renewable power generation. It manufactures as well as provides services which gives it an edge in the solar power market. Sahaj Solar is engaged in three businesses of PV module manufacturing, providing solar pumping systems and providing EPC services.

2) Industry overview

India added around 14 GW8 of solar capacity in 2022, making it the year with the highest annual capacity addition. At the end of December 2022, India’s cumulative solar installations stood at 63.5 GW, making it the world’s fifth largest country in terms of installed solar capacity.

3) Sahaj Solar IPO size
The IPO is entirely a fresh equity issue of 29.2 lakh shares and through the issue, the company plans to raise Rs 52.56 crore.

4) Sahaj Solar IPO price band
The company is offering its shares at Rs 171-180 apiece, and investors can bid for 800 shares in 1 lot.

5) Sahaj Solar financial performance
For the year ended March 2024, the company clocked total revenues of Rs 201 crore and net profit of Rs 13.16 crore.

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6) Objects of the offer
The net proceeds from the public offer will be used for funding working capital requirements and other general corporate purposes.

7) Lead managers and Registrar
Kunvarji Finstock is acting as the lead manager to the issue and Kfin Technologies is the registrar.

8) Issue structure
About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.

9) Important dates
The IPO opened on July 11 and will close on July 15. The final allotment will likely be made on July 16. The company's shares will likely get listed on July 19.

10) Sahaj Solar GMP
Ahead of the issue opening, the company's shares were trading with a GMP of Rs 145 in the unlisted market.