Sahaj Solar Ltd IPO
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Sahaj Solar Ltd IPO Details
Details
Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
---|---|---|---|---|---|
₹ 29.2 L | TBA | ₹ 9.62 L | ₹ 76.74 L | NSE | ₹ 52.56 Cr |
IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
11 Jul, 24 | 15 Jul, 24 | 800 | ₹ 1,36,800 | Book Building - SME | 19 Jul, 24 |
Sahaj Solar Ltd IPO Dates
Details
Sector | Type |
---|---|
Sector | Electric Equipment |
Sub Sector | NA |
Issue Type | Book Building - SME |
Subscription Status
*Values are in Lakhs
Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
---|---|---|---|
QIB | 0x | 1374400 | 0 |
NII | 0x | 412800 | 0 |
Retail | 0x | 962400 | 0 |
Employee | 0x | 24000 | 0 |
Total | 0x | 2920000 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Sahaj Solar Ltd Financial Status
Income Statement
Balance Sheet
Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
---|---|---|---|
Revenue from operations | 19.09 | 9.01 | 2.64 |
EBITDA | 20.11 | 10.21 | 3.88 |
PAT | 12.26 | 5.81 | 1.02 |
Total Assets | 134.07 | 78.33 | 52.72 |
Share Capital | 8.07 | 7.83 | 5.22 |
Total Borrowings | 71.22 | 22.38 | 16.59 |
Operating Activities (Net Cash) | 13.28 | 7.01 | 2.26 |
Investing Activities (Net Cash) | 0.76 | 0.70 | 0.00 |
Financing Activities (Net Cash) | 71.22 | 22.38 | 16.59 |
Net Cashflow | 11.45 | 2.31 | 1.07 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Sahaj Solar Ltd
Sahaj Solar Limited was incorporated as private limited Company under the name Sahaj Solar Private Limited, under the provisions of the Companies Act, 1956 and Certificate of Incorporation was issued by the Registrar of Companies, Gujarat Dadra & Nagar Haveli on February 26, 2010. Subsequently, the Company was converted into a public limited company pursuant to shareholders resolution passed at the general meeting of the Company held on April 01, 2023, and the name of the Company was changed to Sahaj Solar Limited and a fresh certificate of incorporation dated April 18, 2023, was issued by the Registrar of Companies, Ahmedabad, Gujarat. Currently, the Corporate Identification Number of the Company is U35105GJ2010PLC059713.
2022 has been an eventful year for the Indian solar industry. 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 India the world's 5th largest country in terms of installed solar capacity. India has revised its 2030 solar target to 300 GW from previous target of 100GW, out of a total 500 GW renewable energy capacity. With this revision, India will witness a solar capacity addition of around 20-30 GW every year from 2023. In 2022, the Indian government also approved Phase II of the Green Energy Corridor, which will facilitate the grid integration and power transmission of approximately 20 GW of renewable energy projects in seven States. Power evacuation refers to transmission of power from a generating plant to the grid for further transmission. The seven chosen states are Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu, and Uttar Pradesh. The goal is to add 10,750 circuit kilometers of intra-state transmission lines, and 27,500 MVA substations by March 2026. The market size for solar water pumping systems in India was valued at around USD 120 million in 2022 and is expected to witness a compound annual growth rate (CAGR) of approximately 20% from 2022 to 2026. The Indian solar photovoltaic (PV) market is expected to grow at a CAGR of 9.8% between 2024 and 2032, reaching 43.23 GW by 2032. The India power EPC (Engineering, Procurement, and Construction) market size was valued at USD 13.30 Billion in 2022 and is likely to reach USD 83.84 Billion by 2031, expanding at a CAGR of 22.7% during 2023-2031.
Sahaj Solar Ltd is a Solar Solutions providing company having experience of more one decade in majority of the verticals of renewable power generation. The Company is a manufacturing as well as a service provider company which gives it an edge in the solar power market. The Company is engaged in three businesses of PV Module manufacturing, providing solar pumping systems and providing EPC Services.
Peer Comparison:
- Shakti Pumps (India) Ltd
- Zodiac Energy Ltd
- Solex Energy Ltd
Sahaj Solar Ltd IPO Key Points
Strengths
- Well positioned solar PV module manufacturer in India to capture industry tailwinds and growth prospects for solar energy in India.
- Diversified base of customers with a large order book.
- Advanced manufacturing facilities with global accreditations.
- Extensive pan-India retail network.
- Experienced Promoter and management team with strong industry expertise and successful track record.
Risk
- The Company had advanced a loan to a body corporate where the directors of the Company were interested, in the past, which may attract the penalties or regulatory actions.
- Its Registered Office from where the company operates is not owned by it.
- The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
Strategy
- Continued focus on developing new and innovative products and services.
- Focus on increasing market share into untapped markets and underdeveloped countries.
- Invest in technology development and global partnerships for vertical integration.
- Grow our customer base and maintain relationships with other key stakeholders.
- Enhance our commitment to society and sustainable business development.
- Well positioned solar PV module manufacturer in India to capture industry tailwinds and growth prospects for solar energy in India.
- Diversified base of customers with a large order book.
- Advanced manufacturing facilities with global accreditations.
- Extensive pan-India retail network.
- Experienced Promoter and management team with strong industry expertise and successful track record.
How To Apply for Sahaj Solar Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.