The Sahaj Solar IPO has generated a significant amount of buzz since it opened for public subscription from July 11 to July 15. With the allotment status being finalized on July 16, investors are eager to find out if they have secured shares in this promising initial public offering. In this guide, we will walk you through the process of checking your Sahaj Solar IPO allotment status and offer insights into what you can expect moving forward.
Understanding the Sahaj Solar IPO: A Brief Overview
Before diving into the details of checking the allotment status, let’s review the key aspects of the Sahaj Solar IPO.
What Was the Sahaj Solar IPO?
The Sahaj Solar IPO was a fresh issue of 2.92 million shares priced between Rs 171 and Rs 180 per share. The IPO was open for public subscription for five days, from July 11 to July 15.
Subscription Highlights
The IPO was met with overwhelming interest. By the final day of bidding, the IPO was subscribed a staggering 507.21 times. This incredible demand resulted in bids for 98,88,48,000 shares compared to the 19,49,600 shares offered, demonstrating robust investor confidence in Sahaj Solar Limited.
Listing Date
Once the allotment process is complete, Sahaj Solar Ltd’s shares are expected to be listed on the NSE SME platform on July 19.
How to Check Your Sahaj Solar IPO Allotment Status
If you participated in the Sahaj Solar IPO, you’ll want to know whether you’ve been allotted shares. Follow these steps to check your allotment status:
Step-by-Step Guide to Check Sahaj Solar IPO Allotment Status
- Visit the Kfin Technologies Portal
- Go to the Kfin Technologies Ltd official website where IPO allotment statuses are published.
- Select the IPO Name
- From the drop-down menu, choose “Sahaj Solar Limited” to proceed.
- Enter Your Details
- You will need to provide either your “application number,” “Demat Account,” or “PAN number” to access your allotment status.
- Fill in the Required Information
- Enter your PAN number, application number, or Demat account number, and complete the CAPTCHA.
- Submit Your Request
- Click on the “Submit” button to view your IPO allotment status.
- View Your Allotment Status
- Your allotment status will be displayed on the screen, indicating whether you have been allotted shares or not.
Sahaj Solar IPO GMP (Grey Market Premium) and Its Implications
The grey market premium (GMP) for the Sahaj Solar IPO is a critical indicator of the stock’s expected performance post-listing.
Current GMP for Sahaj Solar IPO
As of the latest updates, Sahaj Solar Ltd’s unlisted shares are trading at a Rs 240 premium in the grey market. This GMP reflects an anticipated listing gain of approximately 133.33% from the public issue price.
What is Grey Market Premium?
GMP is a measure of the demand for the stock in the unofficial trading market before its official listing. A higher GMP indicates strong investor sentiment and expectations of significant gains.
Regulatory Cap on Listing Gains
It’s important to note that the NSE has set a cap of 90% on the listing gains for SME IPOs. Therefore, while the current GMP suggests a potential gain of 133.33%, the actual listing gain will be capped at 90%.
Detailed Insights into Sahaj Solar Limited
To understand the significance of this IPO, let’s delve into the background and business operations of Sahaj Solar Limited.
Company Background
Founded in 2010, Sahaj Solar Limited specializes in providing renewable energy solutions with a focus on solar power. The company’s operations are divided into three main business units:
- PV Module Manufacturing
- Located in Bavla, Ahmedabad, Gujarat, Sahaj Solar’s PV module manufacturing facility spans 2,883.77 square meters with a building of 2,445.5 square meters. The plant boasts a production capacity of 100 MW and manufactures both mono and polycrystalline PV modules, including mono PERC modules for diverse solar projects.
- Revenue and Profit Growth
- In the financial year 2023-24, Sahaj Solar saw an 8.56% increase in revenue and a remarkable 106.25% rise in profit after tax (PAT), showcasing its financial health and growth trajectory.
- IPO Leadership
- Kunvarji Finstock Pvt Ltd is the book-running lead manager for the IPO, while Kfin Technologies Limited serves as the registrar. Aftertrade Broking is the market maker for this IPO.
Conclusion: What’s Next for Sahaj Solar IPO Investors
With the IPO allotment status being finalized today, investors should prepare to check their allotment results and follow the upcoming steps towards the listing. If you have been allotted shares, they will be officially listed on the NSE SME on July 19, where you can start trading them.
Keep an eye on the grey market trends and listing gains, but also be mindful of the NSE’s cap on SME IPO listing gains. As the market evolves, staying informed about Sahaj Solar’s performance and developments will help you make strategic investment decisions.
Whether you’re a seasoned investor or new to the stock market, understanding these aspects of the Sahaj Solar IPO will enhance your investment strategy and outlook.
By following this guide, you will be well-equipped to check your IPO allotment status and navigate the next steps with confidence.