Sahaj Solar IPO GMP: Renewable energy Company Sahaj Solar Limited is bringing its IPO next week. Sahaj Solar is a small and medium enterprise (SME). The company will issue fresh 29.2 lakh equity shares worth Rs 52.56 crore. Check more details below.
Sahaj Solar IPO GMP
According to multiple reports, Sahaj Solar will start selling stakes from July 11. Interested Investors can apply between July 11 to July 15 to become a stakeholder in this company. The company plans to raise Rs 52.56 crore through IPO. Price band for the IPO is fixed between Rs 171 to Rs 180 with a lot size of 800. This means investors must have to buy 800 of equity shares as it’s a SME IPO. The minimum lot size required for bidding is 1 lot, which means investors require Rs 1,44,000 for 800 shares.
Allotment of the stake is fixed on July 16 and the listing date is set on July 19. The shares will be listed on NSE SME stock exchange.
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What’s the Details
Kunvarji Finstock Pvt Ltd represented as the lead book running manager for Sahaj Solar IPO. At the same time Kfin Technologies is the registrar for the issue.
Sahaj Solar has reserved 50% of the total issue size for qualified institutional buyers (QIBs). 35% has been allotted for retail investors and the rest 15% has been reserved for non-institutional investors (NII).
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About the Company
Incorporated in 2010, Sahaj Solar is a leading renewable energy solutions provider. The company manufactures PV modules, solar water pumping systems. Apart from that, Sahaj Solar also provides engineering, procurement and construction (EPC) services. This includes supply, design, installation, testing, commissioning and maintenance of projects.
The company has a market cap of Rs 197.75 crore. Investors should keep an eye on this IPO.
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