Sahaj Solar IPO booked 507.21 times on the third bidding day; NIIs, retail investors steal the show. Check GMP

Subscriptions for the Sahaj Solar IPO opened on Thursday, July 11, and will run through Monday, July 15. The initial public offering (IPO) price range for Sahaj Solar has been set at ₹171 to ₹180 per share, with a face value of ₹10. There are at least 800 shares available for bidding, as well as multiples of those shares.

The net offer has beensplit as follows: 35% is allocated for retail investors, 50% went to QIB, and 15% has been set aside toNII (HNI).

Pramit Bharatkumar Brahmbhatt, Manan Bharatkumar Brahmbhatt, and Varna Pramit Brahmbhatt are the promoters of the business.

Sahaj Solar is a solar solution supplier with about 10 years of experience in the majority of fields pertaining to renewable energy generation. The firm benefit from the company's dual offering of production and services in the solar power industry. They manufacture photovoltaic (PV) modules, market solar pumping systems, and provide EPC services.

The following is a breakdown of the top domestic clients: Maharashtra State Electricity Distribution Co Ltd, GEDA, HAREDA, PGVCL, DGVCL, and MGVCL are among the government clients. Iron Mountain, Tenneco, Valeo, Rotomag, Premier Solar, Shekhani Industries, Mahindra Susten Private Ltd, and Mahindra Solarize Private Limited are a few examples of private clientele.

The company's listed peers, according to the red herring prospectus (RHP), include Solex Energy Ltd (P/E of 74.18), Zodiac Energy Ltd (P/E of 51.62), and Shakti Pumps (India) Ltd (P/E of 17.34).

Sahaj Solar IPO subscription status

Sahaj Solar IPO subscription status is 507.21 times, on day 3.

The retail portion was subscribed 535.03 times, and NII portion was booked 862.35 times. Qualified Institutional Buyers has been booked 214.27 times.

The company has received bids for 98,88,48,000 shares against 19,49,600 shares on offer, according to data on chittorgarh.com.

Sahaj Solar IPO subscription status was 42.23 times, on day 1, and the issue was booked 97.98 times, on day 2.

Sahaj Solar IPO details

The Sahaj Solar IPO, worth ₹52.56 crore, is purely an offer-for-sale of up to 2,920,000 equity shares.

The business intends to use the funds raised by this offer for both general corporate objectives and working capital requirements.

Kunvarji Finstock Pvt Ltd is the book running lead manager of the Sahaj Solar IPO, and Kfin Technologies Limited is the issue registrar. Aftertrade Broking is acting as the market maker for the Sahaj Solar IPO.

Sahaj Solar IPO GMP today

Sahaj Solar IPO GMP today is +240. This indicates Sahaj Solar share price were trading at a premium of ₹240 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Sahaj Solar IPO expected listing price was indicated at ₹420 apiece, which is 133.33% higher than the IPO price of ₹180.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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