On the first day of bidding, Sahaj Solar IPO was booked more than twelve times; nonetheless, the real stars are the small investors. Verify the GMP
The Sahaj Solar initial public offering (IPO) is now accepting subscriptions, and it will remain open through Monday, July 15. Sahaj Solar’s initial public offering (IPO) pricing range is ₹171 to ₹180 per share, with a ₹10 face value. At least 800 shares, as well as multiples of those shares, are up for bid.
The net offer was divided as follows: retail investors received 35% of the offer, QIB received 50%, and NII (HNI) received 15%.
The company’s promoters are Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhatt.
Sahaj Solar is a provider of solar solutions with almost ten years of experience in most areas related to the production of renewable energy. The company’s combined offering of services and production in the solar power industry benefits the company. They offer EPC services, sell solar pumping systems, and produce photovoltaic (PV) modules.
The following is a breakdown of the top domestic clients: Maharashtra State Electricity Distribution Co Ltd, GEDA, HAREDA, PGVCL, DGVCL, and MGVCL are among the government clients. Iron Mountain, Tenneco, Valeo, Rotomag, Premier Solar, Shekhani Industries, Mahindra Susten Private Ltd, and Mahindra Solarize Private Limited are a few examples of private clientele.
The company’s listed peers, according to the red herring prospectus (RHP), include Solex Energy Ltd (P/E of 74.18), Zodiac Energy Ltd (P/E of 51.62), and Shakti Pumps (India) Ltd (P/E of 17.34).
Status of Sahaj Solar’s IPO subscription
As of day one, Sahaj Solar’s IPO subscription status is at 12.84 times.
There were 22.04 subscriptions for the retail portion and 9.25 bookings for the NII portion. There is no reservation for Qualified Institutional Buyers.
At 11:43 IST, the company got bids for 2,50,38,400 shares compared to the 19,49,600 shares that were on offer, per information found on chittorgarh.com.
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Details of Sahaj Solar’s IPO
The ₹52.56 crore Sahaj Solar initial public offering (IPO) is limited to the sale of up to 2,920,000 equity shares.
The company plans to use the money collected from this offer for working capital needs as well as broader corporate goals.
The issue registrar of the Sahaj Solar IPO is Kfin Technologies Limited, while the book running lead manager is Kunvarji Finstock Pvt Ltd. For the Sahaj Solar IPO, Aftertrade Broking is serving as the market maker.
Today’s IPO GMP for Sahaj Solar
Today’s IPO GMP for Sahaj Solar is +164. According to investorgain.com, this shows that the price of Sahaj Solar shares were selling at a premium of ₹164 on the black market.
Taking into account the upper limit of the IPO price range and the existing premium in the secondary market, the Sahaj Solar IPO was predicted to list at ₹344, which is 91.11% more than the IPO price of ₹180.
A “grey market premium“ denotes the willingness of investors to part with more money than the issue price.
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[…] On the first day of bidding, Sahaj Solar IPO was booked more than twelve times; nonetheless, the rea… […]
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