IPO Details
Bidding Dates
11 Jul 24 - 15 Jul 24
Price Range ₹
171 - 180
Total Equity
₹ 51.01Cr
Lot Size
800
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
11 Jul 2024
Offer end
15 Jul 2024
Allotment
16 Jul 2024
Refund initiation
18 Jul 2024
Demat transfer
18 Jul 2024
Listing
19 Jul 2024
Offer start
11 Jul 2024
Offer end
15 Jul 2024
Allotment
16 Jul 2024
Refund initiation
18 Jul 2024
Demat transfer
18 Jul 2024
Listing
19 Jul 2024
About Company
Sahaj Solar Limited, founded in 2010, is a provider of renewable energy solutions. The company operates three business units: 1. PV Module Manufacturing: Located in Bavla, Ahmedabad, Gujarat, the PV module manufacturing facility covers an area of 2,883.77 square meters, with a building space of 2,445.5 square meters for both factory and office use. The plant has a capacity of 100 MW and produces mono and polycrystalline PV modules for various solar projects domestically and internationally. Additionally, the facility manufactures mono PERC (Passivated Emitter and Rear Contact) modules. 2. Solar Water Pumping Systems: The company offers comprehensive solar water pumping solutions. 3. EPC Services: Sahaj Solar provides Engineering, Procurement, and Construction (EPC) services to customers across India. This includes the design, supply, installation, testing, commissioning, and maintenance of solar projects of all sizes, from small domestic systems to large solar power plants. As of September 30, 2023, the company employs over 64 individuals in administration, accounting and finance, human resources, project management, procurement, operations, sales and marketing, production, and top management.
Year Founded
26-02-2010
Promotor Details
Pramit Bharatkumar Brahmbhatt
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 97.09 | 0 |
| Share Capital | 7830660 | 7830660 |
Offer to Public
28,34,004.00 Cr
Project Details
- None - Nonecr
Objectives
- a) Working Capital Requirements of our Company
- andb) General Corporate Purposes
Highlights
- Sahaj Solar is a well-positioned solar PV module manufacturer in India, ready to capitalize on the industry's growth and the increasing demand for solar energy.
- The company boasts a diversified customer base with a substantial order book, ensuring steady business and revenue growth.
- Equipped with advanced manufacturing facilities that have global accreditations, Sahaj Solar ensures high-quality production standards and efficiency.
- The company has an extensive retail network across India, facilitating wide market reach and accessibility.
- Sahaj Solar's experienced promoter and management team have strong industry expertise and a proven track record, providing reliable and strategic guidance.
Challenges
- The company has faced regulatory issues, including a past loan to a body corporate where directors had an interest, which may lead to penalties or regulatory actions. Additionally, it has received notices for delayed payments under the MSMED Act, 2006, and has made inaccuracies in regulatory filings with the RoC.
- Sahaj Solar relies heavily on a few key customers and suppliers. The loss of any major customer or supplier could adversely affect its revenues, profitability, and ability to procure raw materials at competitive prices.
- The company has only one manufacturing facility, making its operations highly susceptible to disruptions. Any interruption in the facility's operations could significantly impact the company's business and financial condition.
- Sahaj Solar has experienced negative cash flows in the past and continues to be exposed to cash flow uncertainties. Insufficient cash flows or inability to borrow to meet working capital requirements could materially affect its operations.
- A significant portion of the company's revenue comes from solar water pumping systems, which rely on state or central government subsidies. Any reduction or discontinuation of these subsidies could lead to a decrease in potential customers and adversely affect the company's business.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 9,064.48 | 783.08 | 70.58 | 59.85 | 0.7643 |
| 2022 | 6,092.39 | 522.05 | 70.58 | 59.85 | 0.7643 |
| 2021 | 3,458.82 | 522.05 | 70.58 | 59.85 | 0.7643 |
