Ahasolar Technologies IPO day 1: Issue receives 1.83 times subscription so far; retail portion booked over 3 times

livemint.com:

₹10 and the company expects to raise a total of ₹12.85 crore from the issue.  The IPO is a fixed price issue and the shares are sold at ₹157 apiece in the IPO. The lot size of Ahasolar Tech IPO is 800 shares and the minimum amount required for retail investors is ₹1,25,600.

Also Read: Kaka Industries IPO: Issue subscribed 19.2 times in day 1 so far; retail portion booked over 33x The basis of allotment of shares will be finalised on July 18 and the company will initiate refunds on July 19, while the shares will be credited to the demat account of allottees on July 20. The shares of Ahasolar Technologies are likely to be listed at BSE SME on July 21.

The proceeds from the fresh issue will be used for the construction of a solar PV plant, the installation of an infrastructure for charging electric vehicles, the purchase of an electric vehicle, the satisfaction of working capital needs, general corporate purposes, and the payment of public issue expenses. Ahasolar Technologies is in the business of CleanTech enabling Energy Transition through Digital Transformation.