IPO Overview:

Details: Sahaj Solar’s initial public offering (IPO) was open for subscription from July 11 to July 15, 2024. The shares were priced between ₹171 and ₹180 each.
Grey Market Premiums (GMP): The GMP is currently at ₹164, indicating the stock might be launched at roughly ₹344.

Subscription Status:

Overall Subscription: On its final day, July 15, the IPO received 471.45 times as many subscriptions. The company got bids for 98.81 crore shares, with an issue size of 20.96 lakh shares.
Retail Investors: Retail sections were subscribed to 1246.7 times, indicating considerable interest from individual investors.
Non-institutional investors: Their portion had been subscribed to 370 times by the closing date.
Qualified Institutional Buyers (QIBs) put bids for 214.1 times their assigned portion, indicating strong institutional interest.

Anchor Investors:

Anchor investors purchased 824,000 shares at ₹180 each, contributing ₹14.83 crore prior to the IPO.
Key anchor investors include Persistent Growth Fund, Varsu India Growth Story Scheme 1, CCV Emerging Opportunities Funds-I, and Acintyo Investment Fund PCC-Cell 1.

Allotment Process:

Checking status: Check your allotment status:

Visit the Direct KFintech website at ris.kfintech.com/ipostatus/ipos.aspx.
Select the Sahaj Solar IPO.
Select the search criteria (Application number, DPID/Client ID, or PAN).
Enter your information and complete the Captcha.
To view your allotment status, simply click Submit.
KFin Technologies Limited is the registrar for its initial public offering (IPO). You can also monitor the status of your allotment on their or the NSE’s websites.

Listing information:

Listing Date: Sahaj Solar shares will be listed on the NSE SME on July 19, 2024.
The estimated listing price for the shares is roughly ₹344, based on the GMP.

Investment Details:

The minimum application lot size is 800 shares.
Investment amount: Retail investors require a minimum investment of ₹144,000.
High Net Worth Individuals (HNIs): The minimum investment is 2 lots (1,600 shares) totaling ₹288,000.
Book Running Lead Manager: Kunvarji Finstock Pvt Ltd oversaw the Sahaj Solar IPO and ensured its smooth execution.

Company Profile:

Sahaj Solar Limited, founded in 2010, specializes in renewable energy solutions, particularly photovoltaic (PV) module production.
Manufacturing plant: The plant is located in Bavla, Ahmedabad, Gujarat, and spans 2,883.77 square meters. It has a building area of 2,445.5 square meters and a production capacity of 100 MW.

Market impact and future prospects:

Market Reaction: The high subscription rates and robust GMP suggest a good market response, demonstrating investor confidence.
Renewable Energy Trends: As the world shifts toward sustainable energy, Sahaj Solar is well-positioned to capitalize on rising demand for renewable energy solutions.
Future Plans: The company intends to increase its manufacturing capacity and enter new markets, thereby strengthening its position in the renewable energy sector.

Investment insights:

Risks: As with any IPO, investing entails risks such as market volatility and future performance uncertainty.
Potential Returns: Given the strong subscription rates and positive market sentiment, Sahaj Solar’s IPO might provide considerable returns to investors.

Conclusion

The Sahaj Solar IPO is a great investment opportunity in the renewable energy industry. With its high market interest and potential for future expansion, it’s an IPO to explore for anyone wishing to invest in sustainable energy solutions.

Source