Sahaj Solar Limited IPO subscription starts from Thursday,11 July and ends on Monday, July 15. The IPO is a book-built issue of Rs. 52.56 crores. The issue is entirely fresh issue of 29.20 lakh equity shares.
Sahaj Solar Limited IPO price band set to Rs. 171 to Rs. 180 per equity shares with a face value of Rs. 10 each. Sahaj Solar IPO will list on NSE SME (small and medium enterprises) with tempting listing date fixed as Friday, July 19, 2024.
The minimum order quantity of the issue is 800 equity shares. The minimum amount of investment required for Retail is ₹1,44,000. The minimum bid size for sHNI is 2 lots aggregating to ₹2,88,000. The company has reserved 50% shares of the issue for QIB’s (Qualified Institutional Buyers), 15% for NII’s (Non-institutional Investors) and 35% for Retail.
Kunwarji Finstock Private Limited is book-running lead manager. Axis Bank Limited is sponsor bank of the issue. KFin Technologies Limited is registrar to the issue.
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Financials
| Particulars | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Revenue | 201.72 | 185.80 | 67.29 | 62.19 |
| PAT | 13.37 | 6.48 | 1.02 | 0.71 |
| PAT Margin | 6.52% | 3.42% | 1.52% | 0.96% |
| Net Cash Flow | -34.76 | 9.55 | -1.66 | 4.02 |
| Borrowings | 56.81 | 13.62 | 17.11 | 15.02 |
Risk Factors
- The company is dependent on top ten customers for 67.42% of sales.
- The company has experience negative cash flows in the past.
- The company is engaged in assembling of solar water pumping system and customers receives subsidy from State/Central Government. Any reduction or discontinuation of such subsidy will results in reduction in number of potential consumers.
Objects of the issue
- To fund incremental working capital requirements of the company – Rs. 39.42 crores,
- General Corporate Purposes.
About Sahaj Solar Limited
Founded in 2010, Sahaj Solar Limited us a provider of renewable energy solutions. The company started as private limited company under the name “Sahaj Solar Private Limited”, subsequently converted into a public limited company on April 2023 and the name of company was changed into “Sahaj Solar Limited”.