Sahaj Solar’s IPO Opens for Subscription Today
Sahaj Solar, a company providing renewable energy solutions, is launching its initial public offering (IPO) today, July 11. They aim to raise ₹52.56 crore by issuing 2.92 million new shares, and the subscription will close on July 15. The share price is set between ₹171 to ₹180 per share. So far, they have raised ₹14.83 crore from anchor investors. Founded in 2010, Sahaj Solar operates in three main areas of renewable energy solutions.
The company also provides solar water pumping systems and comprehensive Engineering, Procurement, and Construction (EPC) services. As of September 30, 2023, Sahaj Solar employs over 64 professionals.
Investment Details for Sahaj Solar’s IPO
Retail investors need to buy at least 800 shares, which costs ₹144,000. High Net-Worth Individuals (HNIs) must buy a minimum of 1,600 shares, costing ₹288,000.
Purpose of the IPO
The funds from the IPO will be used for the company’s working capital needs and general corporate purposes.
Allotment and Listing Dates
The allotment of shares is expected to be finalized by July 16. The company plans to list on the NSE SME on July 19.
Lead Managers
Kunvarji Finstock Pvt Ltd is managing the IPO, Kfin Technologies Limited is the registrar, and Aftertrade Broking is the market maker for Sahaj Solar’s IPO.