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Sahaj Solar Ltd IPO

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.

Sahaj Solar Ltd IPO Details

Total Shares Offered

₹ 29,20,000

Offer to Public

TBA

Retail Max (Shares)

₹ 9,62,400

Pre Issue Promoters Holding

₹ 76,73,894

Exchange

NSE

Issue size

₹ 52.56 Cr

IPO Open Date

Jul 11, 2024

Close Date

Jul 15, 2024

Lot Size

800

Min Investment

₹ 1,36,800

Issue Type

Book Building - SME

Listing Date

Jul 19, 2024

Sahaj Solar Ltd IPO Dates

Jul 11, 2024

Opening date

Jul 15, 2024

Closing date

Jul 16, 2024

Basis of Allotment

Jul 18, 2024

Initiation of Refunds

Jul 18, 2024

Credit of Shares

Jul 19, 2024

Listing date

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*
QIB	0x	1374400
NII	0x	412800
Retail	0x	962400
Employee	0x	24000
Total	0x	2920000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

1374400

412800

962400

24000

2920000

Sahaj Solar Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	201.17	185.36	66.77
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

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.

Peer Comparison:

Shakti Pumps (India) Ltd
Zodiac Energy Ltd
Solex Energy Ltd

Sahaj Solar Ltd 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.

How To Apply for Sahaj Solar Ltd IPO Online?

Step 1:

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.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Sahaj Solar Ltd IPO?

Sahaj Solar Ltd's IPO offers shares for up to 52.56 It begins on Jul 11, 2024 and ends on Jul 15, 2024.

What is the price of the Sahaj Solar Ltd IPO?

The price of Sahaj Solar Ltd IPO ranges between ₹171 to ₹180 per share.

What are the open and close dates for the Sahaj Solar Ltd IPO?

The Sahaj Solar Ltd IPO opens on Jul 11, 2024 and closes on Jul 15, 2024.

When will the Sahaj Solar Ltd IPO be allotted?

The allotment for the Sahaj Solar Ltd IPO will be finalised on Jul 16, 2024. The shares will be listed on BSE and NSE on Jul 19, 2024.

What is the minimum lot size required for Sahaj Solar Ltd IPO?

The minimum lot size for Sahaj Solar Ltd IPO is 800 shares, priced between ₹171 to ₹180 per share.

What is the GMP of Sahaj Solar Ltd IPO?

The GMP (Grey Market Premium) of Sahaj Solar Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Sahaj Solar Ltd IPO?

To check the allotment status of Sahaj Solar Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Sahaj Solar Ltd IPO getting listed?

The Sahaj Solar Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jul 11, 2024, and closes on Jul 15, 2024. The allotment is finalised on Jul 16, 2024.

How do you apply for the Sahaj Solar Ltd IPO?

To apply for the Sahaj Solar Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.