Sahaj Solar Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Sahaj Solar

CMP

395.90

+18.85 (5.00%)

  • DRHP
₹180

Offer Price

₹ 52.52 Cr

Issue Size

₹ 1,44,000

Min Investment

800

Lot size

Time Line

  • 11
    Jul 2024
    Open
  • 15
    Jul 2024
    Close
  • 16
    Jul 2024
    Finalisation of Basis of Allotment
  • 18
    Jul 2024
    Initiation of Refunds
  • 18
    Jul 2024
    Transfer of Shares to Demat Account
  • 19
    Jul 2024
    Listing Date

Objects of the Offer

  • Continued focus on developing new and innovative products and services.

  • Focus on increasing market share into untapped markets and underdeveloped countries.

  • Invest in technology development and global partnerships for vertical integration.

  • Grow our customer base and maintain relationships with other key stakeholders.

  • Enhance our commitment to society and sustainable business development.

Products & Services

  • Sahaj Solar Limited is a Solar Solutions providing company. The Company is a manufacturing as well as a service provider company.

Strengths

  • Well positioned solar PV module manufacturer in India to capture industry tailwinds and growth prospects for solar energy in India.

  • Diversified base of customers with a large order book.

  • Advanced manufacturing facilities with global accreditations.

  • Extensive pan-India retail network.

  • Experienced Promoter and management team with strong industry expertise and successful track record.

Risks

  • The Company had advanced a loan to a body corporate where the directors of the Company were interested, in the past, which may attract the penalties or regulatory actions.

  • Its Registered Office from where the company operates is not owned by it.

  • The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.

  • The company highly depends on its major raw materials and a few key suppliers who help it procure the same. The Company has not entered into long-term agreements with its suppliers for supply of raw materials. In the event the company is unable to procure adequate amounts of raw materials, at competitive prices its business, results of operations and financial condition may be adversely affected.

  • The company has only one Manufacturing Facility, continued operations of its manufacturing facility is critical to its business and any disruption in the operation of the company`s manufacturing facility may have a material adverse effect on its business, results of operations and financial condition.

Company Promoters

Promoters Holding

Issue For IPO
25.29%
Pre Holding

95.14%

Post Holding

69.85%

Top Promoters Holding

Financials

All values in Cr

Mar-2023 Mar-2024 Mar-2024 3-Yr trend
Revenue 185.36 (177.60%) 201.17 (8.50%) 39.96 (-)
Gross Profit 185.36 (177.60%) 201.17 (8.50%) 39.96 (-)
Net Income 185.36 (177.60%) 201.17 (8.50%) 39.96 (-)
Assets 185.36 (177.60%) 201.17 (8.50%) 39.96 (-)
Liabilities 185.36 (177.60%) 201.17 (8.50%) 39.96 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Shakti Pumps (India) Ltd 967.68 24.13 725.34 725.34 5.77 13.13 227.45 3.32 0.18
Zodiac Energy Ltd 137.66 3.19 94.71 94.71 8.84 2.18 24.64 3.36 1.25
Solex Energy Ltd 161.71 2.71 140.78 140.78 7.20 3.39 47.03 1.92 1.75
Sahaj Solar Ltd 201.17 13.16 92.08 59.04 39.96 16.32 40.95 2.44 0.62

Book Running Managers

  • Kunvarji Finstock Pvt Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

Office # 301 Ashirvad Paras Op,
Prahladnagar Garden Satellite,
Ahmedabad - 380051
Phone : +91 079 6817 1800 Email : cs@sahajsolar.com www.sahajsolar.com

Offer Related Information

Initial public offer of upto 29,20,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Sahaj Solar Limited ("The Company" or "The Issuer") at an offer price of Rs. 180 per equity share (including share premium of Rs. 170 per equity share) for cash, aggregating up to Rs. 52.52 crores ("Public Offer") out of which upto 1,46,400 equity shares of face value of Rs. 10 each, at an offer price of Rs. 180 per equity share for cash, aggregating Rs. 2.64 crores will be reserved... More

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