Sahaj Solar IPO: The initial public offering (IPO) of Sahaj Solar Limited opened on 11th July 2024 and will remain open till 15th July 2024. Those who wish to apply for the public issue proposed for listing on the NSE SME Emerge platform should note that bidding for Sahaj Solar IPO will end today evening. The alternate energy company aims to raise ₹52.56 crore from its initial offer, which is entirely fresh. After two days of bidding, Sahaj Solar IPO subscription suggests that the NSE SME IPO has received a strong response from the Indian primary market investors. Following vital Sahaj Solar IPO subscription status and positive sentiments in the Indian stock market, the grey market has gone highly bullish on Sahaj Solar IPO. According to stock market observers, shares of Sahaj Solar Limited are available at a premium of ₹164 in the grey market today.
As mentioned above, Sahaj Solar IPO GMP (grey market premium) today is ₹164, which is ₹3 higher than weekend's Sahaj Solar IPO GMP. The public issue has received a strong response from the primary market investors, indicating their confidence in the company's potential. This positive sentiment has also helped the public issue to remain under the bulls' radar in the unlisted share market, suggesting a favourable market environment for the IPO. They predict that Sahaj Solar IPO GMP may rise more in the near term, provided the bull trend on Dalal Street continues.
It's important to note that stock market experts caution that the grey market is non-regulated and one should not take GMP so seriously. They advise IPO investors to thoroughly analyze the balance sheet of the company, which provides a comprehensive picture of the company's financial health, including its assets, liabilities, and equity. This caution is crucial for making informed investment decisions.
By 3:08 PM on day 3 of bidding, the NSE SME IPO has been booked over 264 times as it has received bids for 77,09,21,600 company shares against 29,20,000 company shares offered by the company in the primary market. The retail portion of the book build issue has been booked over 432 times as the public issue has received bids for 41,64,11,200 shares in the retail segment against 9,62,400 shares offered in the retail category. The NII portion of the book build issue has been booked over 617 times, whereas the QIB segment of the public offer has been filled over 180 times.
In FY24, Sahaj Solar Limited reported an over 106 percent YoY rise in PAT, a key indicator of profitability, whereas its revenue surged 8.50 times, reflecting strong sales growth. In the last three financial years, the company has reported an increase in PAT, income and assets, which is a good sign for a small company like Sahaj Solar Limited, indicating its financial stability and growth potential.
As we approach the end of the bidding period for the Sahaj Solar IPO on 15th July 2024, it's worth noting the strong response the public issue has received. The company has fixed the Sahaj Solar IPO price band at ₹171 to ₹180 per equity share. The Sahaj Solar IPO allotment date is expected on 16th July 2024, i.e., Tuesday next week, while the Sahaj Solar IPO listing date is expected on 18th July 2024, i.e., Thursday next week. This strong response is a positive indicator for the future of Sahaj Solar Limited.
