Sahaj Solar is set to launch its Initial Public Offering (IPO), with a book built issue worth ₹52.56 crores. This IPO is entirely a fresh issue, comprising 29.2 lakh shares. Investors can subscribe to the Sahaj Solar IPO from July 11, 2024, to July 15, 2024. The allotment is expected to be finalized on July 16, 2024, and the shares are set to list on the NSE SME on July 19, 2024.
Price Band and Investment Details
The price band for the Sahaj Solar IPO is set between ₹171 and ₹180 per share. The minimum lot size for applications is 800 shares, translating to a minimum investment of ₹144,000 for retail investors. High Net Worth Individuals (HNIs) need to apply for at least two lots (1,600 shares), which amounts to ₹288,000.
Lead Manager and Registrar
Kunvarji Finstock Pvt Ltd is the book-running lead manager for the Sahaj Solar IPO, while Kfin Technologies Limited serves as the registrar. Aftertrade Broking is the market maker for this IPO.
Share Reservation
The Sahaj Solar IPO offers a total of 2,920,000 shares. The distribution among different investor categories is as follows:
- Anchor Investors: 824,000 shares (28.22%)
- Market Maker: 146,400 shares (5.01%)
- Qualified Institutional Buyers (QIB): 550,400 shares (18.85%)
- Non-Institutional Investors (NII): 412,800 shares (14.14%)
- Retail Individual Investors (RII): 962,400 shares (32.96%)
Anchor Investors
On July 10, 2024, Sahaj Solar IPO raised ₹14.83 crore from anchor investors. The shares offered to anchor investors amount to 824,000. The lock-in period for 50% of these shares ends on August 15, 2024, while the lock-in period for the remaining shares ends on October 14, 2024.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for the Sahaj Solar IPO is ₹164, indicating a strong interest from investors and potential listing gains.
For detailed information, investors are advised to refer to the Sahaj Solar IPO Red Herring Prospectus (RHP).
The Sahaj Solar IPO offers a compelling opportunity for investors looking to capitalize on the growing renewable energy sector. With its well-defined pricing, strategic share reservation, and reputable management, this IPO is poised to attract substantial interest from various investor categories.