Sahaj Solar IPO booked over 12 times on the first bidding day so far; retail investors steal the show. Check GMP

  • Sahaj Solar IPO subscriptions opened on July 11 and will close on July 15. The price range is set at 171 to 180 per share. The net offer is split with 35% for retail investors, 50% for QIB, and 15% for NII (HNI).

Dhanya Nagasundaram
First Published11 Jul 2024, 11:47 AM IST
Sahaj Solar IPO begin subscriptions on Thursday, July 11, and end on Monday, July 15.
Sahaj Solar IPO begin subscriptions on Thursday, July 11, and end on Monday, July 15. (https://sahajsolar.com/)

Subscriptions for the Sahaj Solar IPO opened on Thursday, July 11, and will run through Monday, July 15. The initial public offering (IPO) price range for Sahaj Solar has been set at 171 to 180 per share, with a face value of 10. There are at least 800 shares available for bidding, as well as multiples of those shares.

The net offer has beensplit as follows: 35% is allocated for retail investors, 50% went to QIB, and 15% has been set aside toNII (HNI).

Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhatt are the promoters of the business.

Sahaj Solar is a solar solution supplier with about 10 years of experience in the majority of fields pertaining to renewable energy generation. The firm benefit from the company's dual offering of production and services in the solar power industry. They manufacture photovoltaic (PV) modules, market solar pumping systems, and provide EPC services.

 

Also Read | Sahaj Solar IPO opens tomorrow, check GMP, price band to issue size

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).

Sahaj Solar IPO subscription status

Sahaj Solar IPO subscription status is 12.84 times, on day 1, so far.

The retail portion was subscribed 22.04 times, and NII portion was booked 9.25 times. Qualified Institutional Buyers has not been booked.

The company has received bids for 2,50,38,400 shares against 19,49,600 shares on offer, at 11:43 IST, according to data on chittorgarh.com.

Also Read | Effwa Infra IPO allotment likely today. GMP, steps to check allotment status

Sahaj Solar IPO details

The Sahaj Solar IPO, worth 52.56 crore, is purely an offer-for-sale of up to 2,920,000 equity shares.

The business intends to use the funds raised by this offer for both general corporate objectives and working capital requirements.

Kunvarji Finstock Pvt Ltd is the book running lead manager of the Sahaj Solar IPO, and Kfin Technologies Limited is the issue registrar. Aftertrade Broking is acting as the market maker for the Sahaj Solar IPO.

Sahaj Solar IPO GMP today

Sahaj Solar IPO GMP today is +164. This indicates Sahaj Solar share price were trading at a premium of 164 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Sahaj Solar IPO expected listing price was indicated at 344 apiece, which is 91.11% higher than the IPO price of 180.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read | Ganesh Green Bharat IPO booked over 229x on third day of bidding; check GMP

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:11 Jul 2024, 11:47 AM IST
HomeMarketsIPOSahaj Solar IPO booked over 12 times on the first bidding day so far; retail investors steal the show. Check GMP

Most Active Stocks

Indian Oil Corporation

173.95
11:51 AM | 11 JUL 2024
2 (1.16%)

Tata Steel

169.75
11:51 AM | 11 JUL 2024
1.75 (1.04%)

Bharat Petroleum Corporation

304.00
11:51 AM | 11 JUL 2024
3.65 (1.22%)

Oil & Natural Gas Corporation

304.15
11:51 AM | 11 JUL 2024
6.1 (2.05%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Gujarat Pipavav Port

237.55
11:44 AM | 11 JUL 2024
17.8 (8.1%)

Sona Blw Precision Forgings

734.00
11:44 AM | 11 JUL 2024
44.7 (6.48%)

Engineers India

278.90
11:44 AM | 11 JUL 2024
16.65 (6.35%)

NMDC Steel

61.21
11:44 AM | 11 JUL 2024
3.57 (6.19%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K

    Fuel Price

    • Petrol
    • Diesel
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts