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Sahaj Solar IPO
Price Band
₹171.0–180.0
Issue Size
₹52.52 Cr
Lot Size
800 shares
Min Investment
₹144,000
GMP
+₹250.0 (138.89%)
Issue Price
₹180.0
Subject to Sauda
₹152000
Paid only if allotted
Sahaj Solar IPO AI Summary
- Sahaj Solar IPO is listed on NSE SME in the Other Electrical Equipment sector.
- Price band: ₹171.0–₹180.0 per share, lot size 800 shares (min. investment ₹144,000).
- Subscription window: 11 Jul–15 Jul 2024, listing on 19 Jul 2024.
- Current GMP is +₹250.0 (138.89%), an estimated listing price of ₹430 — unofficial and can change daily.
Sahaj Solar Limited is set to launch its IPO with a price band of ₹171.0 to ₹180.0, aiming to raise ₹52.52 Cr. The company has shown strong revenue and profit growth in recent years, positioning itself in the renewable energy sector. Investors should consider their risk tolerance and the potential for volatility when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Sahaj Solar IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 15 Jul 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Sahaj Solar IPO Grey Market Premium (GMP) Today
GMP
+₹250.0
GMP %
+138.89%
Est. Listing
₹430.0
Updated: 25 Jul 2026 14:05
About the Company
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions. The company has three business units: PV module manufacturing: The company's PV module manufacturing facility is located at Bavla, Ahmedabad, Gujarat. It is spread over an area of 2,883.77 square metres and has a building of 2445.5 square metres comprising both factory and office space. The plant has a capacity of 100 MW. The company's automated manufacturing facility offers mono and polycrystalline PV modules for various solar projects in India and abroad. The facility also manufactures a mono PERC (Passivated Emitter and Rear Contact) module. Provision of solar water pumping systems Providing EPC services to PAN India customers: This includes design, supply, installation, testing, commissioning and maintenance of projects of all sizes, from a simple domestic solar system to a large solar power plant set-up. As of September 30, 2023, the company employed over 64 people in the areas of administration, accounting and finance, human resources, projects, procurement, operations manager, sales and marketing, production and operations, and top management.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 149.36 | 90.82 | 61.03 | 34.64 |
| Total Income | 201.72 | 185.80 | 67.29 | 62.19 |
| Profit After Tax | 13.37 | 6.48 | 1.03 | 0.71 |
| NET Worth | 32.93 | 16.37 | 10.02 | 9.22 |
| Reserves and Surplus | 24.97 | 8.59 | 4.80 | 4.05 |
| Total Borrowing | 56.81 | 13.62 | 17.11 | 15.03 |
Key Ratios
EPS
₹16.58
NAV
₹40.83
ROE
39.96%
ROCE
26.47%
RoNW
39.96%
P/B Value
4.41
P/E Ratio
10.86
Market Cap
₹197.75 Cr
PAT Margin
6.52%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Solex Energy Limited | 57.8 | 18.89% | 74.18 | 10.92 | 10.92 |
| Zodiac Energy Limited | 32.51 | 23.06% | 51.62 | 7.5 | 7.5 |
| Shakti Pumps (india) Ltd. | 377.19 | 18.75% | 17.34 | 76.91 | 76.91 |
| Sahaj Solar Limited This IPO | 40.83 | 39.96% | 10.86 | 16.7 | 16.7 |
Promoters
Pramit Bharatkumar Brahmbhatt, Varna Pramit Brahmbhatt and Manan Bharatkumar Brahmbhatt
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Working Capital Requirements of the Company 106.15 2 General Corporate Purposes 13.14 Total 119.29
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹67.29 Cr in the year ending 31 Mar 2022, rising to ₹185.80 Cr by 31 Mar 2023, and further increasing to ₹201.72 Cr by 31 Mar 2024. This shows a consistent upward trend in revenue over the periods.
Profit Trend
Profit after tax was ₹1.03 Cr for the year ending 31 Mar 2022, which increased to ₹6.48 Cr by 31 Mar 2023, and further rose to ₹13.37 Cr by 31 Mar 2024. This indicates a significant growth in profitability over the reported periods.
Valuation
Sahaj Solar Limited's implied P/E at the issue price is approximately 10.86, compared to peers trading at P/E ratios ranging from 17.34 to 74.18.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the potential listing gain of an IPO based on unofficial trading before the stock is listed. A higher GMP suggests strong demand and a likelihood of a positive listing day performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy, considering the company's growth potential and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, as it operates in a sector that can be subject to market fluctuations and regulatory changes.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors, including market sentiment and demand for the stock. Investors should be aware that while high GMP might indicate potential gains, there are no guarantees.
This evaluation is generated from Sahaj Solar's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Sahaj Solar IPO GMP today?
Sahaj Solar IPO GMP today is +₹250.0 (138.89%), indicating an estimated listing price of ₹430. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Sahaj Solar IPO?
The price band of Sahaj Solar IPO is ₹171.0–₹180.0 per share.
When does Sahaj Solar IPO open and close?
Sahaj Solar IPO opens on 11 July 2024 and closes on 15 July 2024.
When does Sahaj Solar IPO list on the stock exchange?
Sahaj Solar IPO listed on 19 July 2024 at ₹430.0.
What is the lot size for Sahaj Solar IPO?
The lot size for Sahaj Solar IPO is 800 shares, requiring a minimum investment of ₹144,000.
What is the price band for the Sahaj Solar IPO?
The price band for the Sahaj Solar IPO is ₹171.0 to ₹180.0.
What is the minimum investment required?
The minimum investment required is ₹144,000, which corresponds to a lot size of 800 shares.
When does the Sahaj Solar IPO open and close?
The IPO opens on 11 July 2024 and closes on 15 July 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which the stock may list compared to its issue price.
When is the listing date for Sahaj Solar?
The listing date for Sahaj Solar is 19 July 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
11 Jul 2024
Close
15 Jul 2024
Allotment
16 Jul 2024
Listing
19 Jul 2024
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