Sahaj Solar IPO Subscription Status

Last updated on July 16, 2024

Sahaj Solar IPO subscription started on 11 July 2024 and will close on 15 July 2024. Sahaj Solar plans to raise around INR 49.93 – 52.56 crores via the IPO. The price band is fixed at INR 171 – 180 per share. The Sahaj Solar IPO market lot has 800 shares and the minimum application amount is INR 1,44,000. The retail quota is 35%, QIB is 50% and NII is 15%.

Check Sahaj Solar IPO subscription status here. The subscription figures are taken from NSE Emerge and are updated at regular intervals. The public issue has QIB, NII, and Retail categories for the subscription. Here you can find Sahaj Solar IPO subscription status segregated by days and investor categories.

Sahaj Solar IPO Subscription Status – Live Updates

The market maker reservation portion of 1,46,400 shares and anchor portion of 8,24,000 equity shares is not included in the above calculations.

Sahaj Solar is a leading provider of renewable energy solutions in India. The key highlights of the company are:

• Diversified Business Model: Sahaj Solar operates in three key segments: manufacturing PV modules, providing solar water pumping systems, and offering comprehensive EPC (Engineering, Procurement, and Construction) services for solar projects.
• Manufacturing Capabilities: The company has a manufacturing facility in Bavla, Gujarat, with a production capacity of 100 MW. They produce both mono and polycrystalline PV modules, including Mono PERC (Passivated Emitter and Rear Cell) modules.
• Solar Water Pumping: Sahaj Solar offers solar water pumping solutions primarily powered by solar panels. Their subsidiary, Veracity Energy and Infrastructure produces key components like the module mounting structure.
• EPC Services: The company provides end-to-end EPC services across India, managing projects ranging from small domestic installations to large-scale solar power plants. Sahaj Solar maintains high quality and reliability standards, holding certifications such as MNRE registration and ISO 9001:2015.

Investor Categories in Sahaj Solar IPO Subscription

The three most important categories of IPO investors defined by SEBI are part of the Sahaj Solar IPO.

Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.

Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.

Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.

The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).

Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors. 

Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.

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