Sahaj Solar Ltd IPO

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.