Sahaj Solar IPO booked 313 times so far on last day; GMP surges to 133%
The IPO, which is entirely a fresh equity issue of 29.2 lakh shares, received bids for 65 crore shares as against just 20.96 lakh shares on offer.
Sahaj Solar GMP
In the unlisted market, the company's shares are trading at a GMP of Rs 240, which translates to a premium of 133% over the issue price.
Sahaj Solar IPO price band
The company is offering its shares at Rs 171-180 apiece, and investors can bid for 800 shares in one lot. Through the issue, it plans to raise about Rs 52.56 crore.
Other Details
The net proceeds from the public offer will be used for funding working capital requirements and other general corporate purposes.
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The company is a solar solutions provider having experience of more than one decade in the majority of the verticals of renewable power generation. It manufactures as well as provides services which gives it an edge in the solar power market. Sahaj Solar is engaged in three businesses of PV module manufacturing, providing solar pumping systems and providing EPC services.
India added around 14 GW8 of solar capacity in 2022, making it the year with the highest annual capacity addition. At the end of December 2022, India’s cumulative solar installations stood at 63.5 GW, making it the world’s fifth largest country in terms of installed solar capacity.
For the year ended March 2024, the company clocked total revenues of Rs 201 crore and net profit of Rs 13.16 crore.
Kunvarji Finstock is
