Unlisted shares of Sahaj Solar Ltd are trading Rs 240 higher in the grey market, signalling a 133.33 per cent listing gain from the public issue.
How To Check Sahaj Solar IPO Allotment Status: The share allotment of the Sahaj Solar IPO, which was open for public subscription between July 11 and July 15, is going to take place today, Tuesday, July 16. Investors will start receiving bank debit messages today, probably in the evening. Once allotted, the Sahaj Solar IPO allotment status can be checked on the registrar Kfin Technologies’ portal.
The 52.56-crore IPO received a whopping 507.21 times subscription on the final day of bidding on Monday, garnering bids for 98,88,48,000 shares as against 19,49,600 shares on offer.
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Once the IPO allotment is finalised today, Sahaj Solar Ltd’s shares will likely be listed on the NSE SME on July 19.
Sahaj Solar IPO: How To Check Allotment Status
Once the IPO is allotted, the status can be checked by following these steps:
Step 1: Visit Kfin Technologies Ltd’s portal.
Step 2: Select IPO Name ‘Sahaj Solar Limited’ from the drop-down menu.
Step 3: Choose any one among — ‘application number’, ‘Demat Account’ or ‘PAN number’.
Step 4: Enter PAN number, application number or demat account number.
Step 5: Enter Captcha
Step 6: Click on ‘Submit’ Button
Now, your Sahaj Solar IPO allotment status will be displayed on the screen.
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Sahaj Solar IPO GMP Today
According to market observers, unlisted shares of Sahaj Solar Ltd are trading Rs 240 higher in the grey market as compared with its issue price. The Rs 240 grey market premium or GMP means the grey market is expecting a 133.33 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The Rs 240 GMP (or 133 per cent listing gain) is the same as yesterday. Recently, the NSE put a cap of 90% on the listing gains of SME IPOs. Hence, the GMP of 90% is just a symbolic figure and the SME IPO listing cannot take place above 90 per cent.
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Sahaj Solar IPO: More Details
The Sahaj Solar IPO is entirely a fresh issue of 29.2 lakh shares. The price band of the IPO was fixed at Rs 171-Rs 180 apiece. It was opened for public subscription on Thursday, July 11.
The retail quota received a 534.26 times subscription, while the non-institutional investors category got 862.09 times subscription. The qualified institutional buyers (QIB) category got a 214.27 times subscription.
Investors need to apply for a minimum of 800 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,44,000 [800 (lot size) x Rs 180 (upper price band)].
The Sahaj Solar IPO allotment will likely be finalised on July 16, while its listing will take place on the NSE SME on July 19.
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions.
The company has three business units — PV module manufacturing: The company’s PV module manufacturing facility is located at Bavla, Ahmedabad, Gujarat. It is spread over an area of 2,883.77 square metres and has a building of 2445.5 square metres comprising both factory and office space. The plant has a capacity of 100 MW. The company’s automated manufacturing facility offers mono and polycrystalline PV modules for various solar projects in India and abroad. The facility also manufactures a mono PERC (Passivated Emitter and Rear Contact) module.
Sahaj Solar’s revenue rose 8.56 per cent and profit after tax (PAT) increased 106.25 per cent in the financial year 2023-24.
Kunvarji Finstock Pvt Ltd is the book running lead manager of the Sahaj Solar IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Sahaj Solar IPO is Aftertrade Broking.
