Sahaj Solar Limited is launching an IPO with a fresh issue of 29,20,000 shares worth INR 52.56 crores. The company aims to meet working capital requirements and general corporate purposes.
Sahaj Solar IPO – Important Dates
| Sahaj Solar Limited IPO Date | July 11, 2024 to July 15, 2024 |
| Sahaj Solar Limited IPO Listing Date | July 19, 2024 |
| Sahaj Solar Limited IPO Price | INR 171-180 per share |
| Sahaj Solar Limited IPO Lot Size | 800 shares |
| Sahaj Solar Limited IPO Total Issue Size | INR 52.56 crores |
| Sahaj Solar Limited IPO Basis of Allotment | July 16, 2024 |
| Sahaj Solar Limited IPO Initiation of Refunds | July 18, 2024 |
| Sahaj Solar Limited IPO Credit of Shares to Demat | July 18, 2024 |
| Sahaj Solar Limited IPO Issue Type | Book Built Issue IPO |
| Sahaj Solar Limited IPO Listing At | NSE SME |
Sahaj Solar Limited IPO – Company Profile
Sahaj Solar Limited, with nearly a decade of experience, specializes in PV Module manufacturing, solar pumping systems, and EPC services. It produces high-efficiency mono- and polycrystalline PV Modules under the brand SAHAJ.
Engaged in providing solar water pumping systems, the company uses its own panels, with mounting structures and controllers from its subsidiaries. These systems benefit farmers under the PM KUSUM scheme and increase their incomes.
It designs custom solar mobile trolleys for rural areas and offers comprehensive EPC services, including design, supply, installation, testing, and maintenance for projects ranging from domestic installations to large-scale solar power plants.
Sahaj Solar Ltd IPO Fundamental Analysis
Sahaj Solar Limited Technologies’ financial analysis reveals a mixed performance. Revenue has significantly increased, equity and liabilities show growth, profitability, and EPS have risen, RoNW improved, total assets increased, and the inventory turnover ratio suggests efficient management.
- Revenue Trend: The revenue increased from ₹6,677.00 lakhs in March 2022 to ₹18,536.15 lakhs in March 2023. The revenue for the current year’s 12-month period ending March 2024 is INR 20,117.41 lakhs.
- Equity and Liabilities: Both equity and liability has shown a consistent increase over the periods, reflecting potential growth and expansion. However, the debt-equity ratio has increased, indicating expanded reliance on debt financing.
- Profitability: The profit after tax (PAT) has significantly increased from ₹102.31 lakhs in March 2022 to ₹1,316.08 lakhs by March 2024. This improvement in profitability could be a source of confidence among investors.
- Earnings per Share (EPS): The diluted EPS has risen from ₹1.30 in March 2022 to ₹16.70 by March 2024, reflecting higher earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has risen from 10.21% to 39.96%, indicating an increase in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth. However, the current ratio has increased, indicating strengthening liquidity and potential challenges in meeting short-term obligations.
- Inventory Turnover Ratio: There’s a significant increase in the Inventory Turnover Ratio, which might suggest faster sales or efficient inventory management.
Sahaj Solar IPO Financial Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 March 2024 |
| Revenue (₹ in lakhs) | 6,677.00 | 18,536.15 | 20,117.41 |
| Equity (₹ in lakhs) | 1,002.04 | 1,642.3 | 3,303.38 |
| Expenses (₹ in lakhs) | 6,287.73 | 17,403.15 | 17,679.27 |
| Profit and Loss After Tax (₹ in lakhs) | 102.31 | 634.90 | 1,316.08 |
| Diluted EPS only (₹) | 1.30 | 8.11 | 16.70 |
| Return on Net Worth (%) | 10.21 | 38.78 | 39.96 |
| NAV per Equity Share (₹) | 19.19 | 20.91 | 40.83 |
| Total Assets (in lakhs) | 6,103.38 | 9,081.48 | 14,936.40 |
| Total Liabilities (in lakhs) | 5,101.33 | 7,439.17 | 11,633.03 |
| Debt Equity Ratio | 1.70 | 0.82 | 1.72 |
| Current Ratio (in times) | 1.18 | 1.16 | 1.25 |
| Inventory Turnover Ratio | 6.35 | 15.65 | 14.96 |
Sahaj Solar Limited IPO Peer Comparison
Sahaj Solar Limited has lower revenue and financial ratios than Shakti Pumps (India) Limited, Zodiac Energy Limited, and Solex Energy Limited, indicating room for growth and profitability, returns, and liquidity improvement.
| Company | Total Income (₹ in lakhs) | Face Value per Equity Share (₹) | P/E Ratio | EPS (Basic & Diluted) (₹) | RoNW (%) | NAV per Equity Share (₹ in lakhs) |
| Sahaj Solar Limited | 20,171.55 | 10 | – | 16.70 | 39.96 | 40.83 |
| Shakti Pumps (India) Limited | 1,37,430.15 | 10 | 17.34 | 76.91 | 18.75 | 377.19 |
| Zodiac Energy Limited | 22,102.73 | 10 | 51.62 | 7.50 | 23.06 | 32.51 |
| Solex Energy Limited | 36,801.53 | 10 | 74.18 | 10.92 | 18.89 | 57.80 |
Sahaj Solar Ltd IPO Objective
The main objective of Sahaj Solar Limited is to meet working capital requirements.
- Working Capital Requirements of the company: The company intends to utilize INR 39.42 crores from Net Proceeds for FY 2024-25 working capital requirements, funding future growth and business purposes, relying on internal accruals, equity, and financing from banks and financial institutions.
- General Corporate Purposes: The company will deploy the balance of funds towards general corporate purposes, including salaries and wages, administration expenses, insurance, meeting business contingencies, and other necessary expenses incurred in the ordinary business.
Sahaj Solar IPO Risks And Challenges
Sahaj Solar Limited’s risks include regulatory issues from loan transactions, heavy reliance on critical suppliers without long-term contracts, and operating a single facility in Bavla, facing potential disruptions from machinery, power, unrest, and compliance issues.
- With loan transactions to Veracity Financial Services, the company contravened Sections 185 and 186 of the Companies Act. Though ratified, potential regulatory actions and penalties could adversely affect the company’s business and financial condition.
- The company relies heavily on solar cells and other raw materials from a few key suppliers without long-term contracts, which poses risks of supply shortages, quality issues, and competition for supplier attention.
- Operating a single manufacturing facility in Bavla, Gujarat, the company faces risks from machinery issues, power disruptions, local unrest, natural disasters, regulatory non-compliance, and labor disputes, which could potentially impact business, finances, and operations.
Sahaj Solar Ltd IPO – Industry & Market Potential
The Indian solar water pumping systems market, valued at $120 million in 2022, is expected to grow at 20% CAGR through 2026. Government schemes like KUSUM drive adoption, with over 200,000 pumps installed by 2022.
As of early 2024, India’s renewable energy capacity is projected to reach 170 GW by March 2025, with solar power accounting for a significant share. Despite recent cost increases, solar continues to drive growth in the sector.
India aims to cut carbon intensity by 45% by 2030, achieve 50% renewable power, and reach net-zero emissions by 2070. The green hydrogen market could hit $8 billion by 2030, driving significant investment in clean energy.
Sahaj Solar Limited IPO – Type of Offer
Sahaj Solar Limited is launching an IPO with a fresh issue of 29,20,000 shares worth INR 52.56 crores. The company aims to meet working capital requirements and general corporate purposes.
Sahaj Solar IPO Offer Size
The offer size of Sahaj Solar Limited is INR 52.56 crores, consisting of a fresh issue of 29,20,000 shares. The company seeks funds to meet working capital requirements and general corporate purposes.
Sahaj Solar Limited IPO Allotment Structure
Sahaj Solar Limited’s allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) according to SEBI regulations. 146,400 shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares, i.e. 146,400 shares, are reserved for marker makers.
How to apply for a Sahaj Solar Limited IPO?
To apply for the Sahaj Solar Limited IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Sahaj Solar Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Sahaj Solar Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Sahaj Solar Limited’s IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Sahaj Solar Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Sahaj Solar Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Sahaj Solar Limited IPO:
● Registrar’s Website: Visit the website of KFin Technologies Limited, the registrar of the Sahaj Solar Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) Small Medium Exchange (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Sahaj Solar Limited Ltd IPO Offer Registrar
The registrar for the Sahaj Solar Limited IPO is KFin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
KFIN TECHNOLOGIES LIMITED
Selenium Tower- B, Plot 31-32,
Gachibowli, Financial District,
Nanakramguda, Serilingampally,
Hyderabad-500 032, Telangana, India.
Tel No.: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com
Sahaj Solar Limited Limited IPO – FAQs
The allotment date of the Sahaj Solar Limited IPO is July 16, 2024.
The price band of the issue is INR 171-180 per share.
The offer size of Sahaj Solar Limited is INR 52.56 crores, consisting of a fresh issue of 29,20,000 shares. The company seeks funds to meet working capital requirements and general corporate purposes.
The listing date of Sahaj Solar Limited’s IPO is July 19, 2024.
