Sahaj Solar listing today: Shares make stellar debut, list at 90% premium
Sahaj Solar listing today: Sahaj Solar shares listed at Rs 342 on the NSE SME as against the issue price of Rs 180, yielding a return of Rs 162 per share for the investors
 "Sahaj Solar listing today: Shares make stellar debut, list at 90% premium")
Sahaj Solar IPO Listing: Shares of Sahaj Solar made a stellar debut on the NSE SME and listed at a premium of 90 per cent from the upper hand of the IPO price. The company's shares listed at Rs 342 on the Exchange as against the issue price of Rs 180, yielding a return of Rs 162 per share for the investors. The trading of the stock halted soon after its listing as it hit the 5 per cent upper circuit (Rs 359.10) on the exchange.
The three-day subscription window of the Sahaj Solar IPO closed on Monday, July 15, 2024. The public issue received massive participation from the investors as it got booked as much as 507.21 times on the last day of subscription. The NII category received the highest bid at 862.35 times, followed by retail at 535.03 times, while the QIB category got booked 214.27 times.
Sahaj Solar IPO Details
The initial public offering of Sahaj Solar comprised an entirely fresh issue of 2,920,000 shares aggregating up to Rs 52.56 crore. Public issue was available at the price band of Rs 171-180, with a lot size of 800 shares. The minimum amount required by a retail investor to subscribe for the Sahaj Solar IPO was Rs 1,44,000. The company had collected Rs 14.83 crore from the anchor investors ahead of its public offering.
Sahaj Solar intends to utilise the net proceeds from the public offering for the working capital requirements of the company as well as for the general corporate purposes.
About Sahaj Solar
Sahaj Solar is one of the leading players in the fields of renewable energy in India. As per the information available on its official website, the company initiated R&D on solar technologies in 2007 and since 2010, the company is International Electrotechnical Commission (IEC) approved, Ministry of New and Renewable Energy (MNRE) recognised Solar Panel Manufacturer in India. One of the expertise is in Crystalline Photovoltaic Technology, used for manufacturing Solar PV Modules. Sahaj Solar is also engaged in system Designing and Engineering, Procurement and Construction (EPC) services.