Sahaj Solar IPO opens today: All you need to know before subscribing to the issue

The initial public offering (IPO) of renewable energy solutions provider Sahaj Solar opens for subscription today (July 11). The book-built issue aims to raise ₹52.56 crore through the issuance of 2.92 million fresh shares and closes on July 15. The price band of the issue is fixed at ₹171 to ₹180 per share and the company has raised ₹14.83 crore from anchor investors. The company- a leading provider of renewable energy solutions with operations across three key segments- was founded in 2010.

It also offers solar water pumping systems and comprehensive Engineering, Procurement, and Construction (EPC) services in the country. As of September 30, 2023, the company employs more than 64 professionals across various departments.

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Here is all you need to know about Sahaj Solar IPO:

Sahaj Solar IPO Lot size

For retail investors, a minimum of 800 shares requiring an investment of ₹144,000 is needed. High Net-Worth Individuals (HNIs) are required to apply for at least 1,600 shares totaling ₹288,000.

Sahaj Solar IPO objectives

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Net proceeds from the IPO will be used by the company to meet the company's working capital requirements and for general corporate purposes.

Sahaj Solar IPO allotment

The allotment for the Sahaj Solar IPO is anticipated to be finalised by July 16. The IPO is scheduled to be listed on the NSE SME with a tentative listing date set for July 19.

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Sahaj Solar IPO Lead managers

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