Sahaj Solar IPO opens for subscription: Check issue size, price band, key dates & more

Sahaj Solar IPO opened for subscription on Thursday, July 11. The initial public offering, which will conclude on July 15, has set a price band of ₹171 to ₹180 per share.

The ₹52.56 crore NSE SME IPO is a fresh issue of 29.2 lakh equity shares. Half of the net offer is set aside for qualified institutional buyers, while 35% has been reserved for retail investors and 15% for non-institutional investors.

The net proceeds from the fresh issue will be used to meet working capital requirements and for general corporate purposes.

Retail investors can bid for at least one lot valued at ₹1,44,000, while high-net-worth investors (HNIs) can bid for a minimum of two lots, totalling ₹2,88,000.

The company's promoters, Varna Pramit Brahmbhatt, Manan Bharatkumar Brahmbhatt and Pramit Bharatkumar Brahmbhatt, control a 97.09% stake. Their shareholding will be reduced to 71.28% after the initial share sale.

Sahaj Solar IPO: Timeline

• Bidding period: July 11 to July 15
• Allotment finalisation: July 16
• Refund initiation: July 18
• Demat transfer: July 18
• Listing on NSE Emerge: July 19

About Sahaj Solar

Sahaj Solar, established in 2010, manufactures photovoltaic (PV) modules, provides solar pumping systems and EPC (engineering, procurement, and construction) services. The Ahmedabad-based company manufactures both polycrystalline and mono PV modules. Its products are sold under the 'SAHAJ' brand.

The company reported more than 8% revenue growth to ₹201.7 crore in the financial year 2023-24 compared to the previous fiscal year. The net profit also jumped 106% year-on-year (YoY) to ₹13.37 crore in FY24.

Kunvarji Finstock Private Limited is the book-running lead manager for the issue, while Kfin Technologies is the registrar. Aftertrade Broking is the market maker for the IPO.