Sahaj Solar IPO receives over 40 times subscription on Day 1; check key details

The Sahaj Solar IPO saw significant demand on Thursday, July 11, the first day of subscription. The NSE SME issue was fully subscribed within hours of launch.

The initial public offering of the provider of renewable energy solutions was booked over 40 times on the first day of bidding led by high retail demand. Sahaj Solar IPO received bids for over 7.88 crore shares compared to 19.49 lakh shares on offer.

The retail category received bids for more than 6.25 crore shares compared to 9.62 lakh shares set aside for the category. The issue was subscribed 65 times in the retail segment.

The Non-Institutional Investors (NIIs) placed bids for 1.61 crore shares against 4.12 lakh shares set aside for the category. The NIIs portion was booked 39.18 times.

The Qualified Institutional Buyers (QIB) placed bids for 55,200 shares against 5.5 lakh shares set aside for the category. The QIBs booked 10.02% of the issue.

Sahaj Solar IPO price band, offer size and minimum investment

Sahaj Solar IPO is a book-building worth ₹52.56 crore. It consists of an entirely fresh issue of 29.2 lakh shares, and there is no offer-for-sale (OFS) portion. The Sahaj Solar IPO price band was fixed at ₹171 to ₹180 per share.

The minimum lot size for retail investors has been fixed at one lot of 800 shares, which amounts to an investment of ₹1,44,000. The minimum lot size for High-Net-Worth Investors (HNIs) is two lots of 1,600 shares, amounting to an investment of ₹2,88,000.

Sahaj Solar IPO dates

The subscription window for the Sahaj Solar IPO will remain open until Monday, July 15. The share allotment status is expected to be finalised on July 16. Shares will be transferred to the Demat accounts of successful bidders on July 18. Refunds for non-allottees will also be initiated on the same day.

Sahaj Solar IPO listing date has been tentatively scheduled as July 19. Shares of Sahaj Solar will be listed on the NSE SME platform, Emerge.

About Sahaj Solar

Sahaj Solar Limited, founded in 2010, provides renewable energy solutions through its three business units. The company manufactures Photovoltaic modules (PV), provides solar-powered water pumping systems, and provides EPC services to customers across India.