Sahaj Solar IPO allotment likely to be fixed today. Latest GMP, steps to check allotment status

Sahaj Solar IPO Allotment: The initial public offering (IPO) of renewable energy solutions provider Sahaj Solar Ltd received stellar demand from investors. As the subscription period has now ended, investors await the Sahaj Solar IPO allotment which is expected to be finalised today.

Sahaj Solar IPO opened on July 11 and closed on July 15. Sahaj Solar IPO allotment date is today, July 16, and the company will fix the basis of allotment soon.

The company will credit the shares into the demat accounts of eligible investors on July 18 and initiate refunds to unsuccessful bidders on the same day.

Investors can check Sahaj Solar IPO allotment status online through the NSE website or the official portal of IPO registrar. Kfin Technologies is the Sahaj Solar IPO registrar.

Here are few simple steps to check Sahaj Solar IPO allotment status online:

Sahaj Solar IPO Allotment Status Check

Step 1] Visit IPO Registrar website on this link - https://kosmic.kfintech.com/ipostatus/

Step 2] Select Sahaj Solar Limited from the ‘Select IPO’ dropdown menu

Step 3] Choose among Application No, Demat Account or PAN

Step 4] Enter details as per the option selected

Step 5] Enter Captcha code and click on ‘Submit’

Your Sahaj Solar IPO allotment status will be displayed on the screen.

Sahaj Solar IPO GMP

Sahaj Solar IPO shares are commanding a robust premium in the unlisted market. Sahaj Solar IPO GMP today, or grey market premium today, is ₹240 per share, according to stock market observers. This indicates that Sahaj Solar shares are trading higher by ₹240 than their issue price, in the grey market.

Considering the Sahaj Solar IPO GMP today and the issue price, the estimated Sahaj Solar IPO listing price is ₹420 per share, a premium of 133.33% to the IPO price of ₹180 per share.

However, as NSE has imposed a price control cap of 90% on the SME IPO’s listing price, the equity shares of Sahaj Solar may list at ₹342 apiece.

Sahaj Solar IPO Subscription

Sahaj Solar IPO was subscribed 507.21 times in total. The public issue received bids for 98.88 crore equity shares as against 19.49 lakh shares on the offer.

The IPO was subscribed 535.03 times in the retail category, 214.27 times in the Qualified Institutional Buyers (QIB) category, and 862.35 times in the Non-Institutional Investors (NII) category.

Sahaj Solar IPO Details

Sahaj Solar IPO commenced for subscription on Thursday, July 11, and concluded on Monday, July 15. The IPO allotment is expected to be finalized today, July 16, and the IPO listing date is July 19. Sahaj Solar shares will be listed on NSE SME.

Sahaj Solar IPO price band was set at ₹171 to ₹80 per share. The company raised ₹52.56 crore from the book-built issue which was entirely a fresh issue of 29.2 lakh shares.

Kunvarji Finstock Pvt Ltd is the book running lead manager, while Kfin Technologies is the IPO registrar.

Sahaj Solar is a provider of renewable energy solutions. The company proposes to utilize the IPO proceeds for working capital requirements and general corporate purposes.

Pramit Brahmbhatt, Varna Brahmbhatt, and Manan Brahmbhatt are the promoters of Sahaj Solar Ltd.

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