Sahaj Solar Limited IPO
Sahaj Solar Limited IPO
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Sahaj Solar Limited's completed its IPO journey with a successful listing on NSE on 19-07-2024. The public offering mobilized 29,20,000 Shares in total capital, comprising 29,20,000 Shares in fresh equity.
The offering was conducted within the price band of ₹171 to ₹180, with minimum application lots of 800 shares. Investor participation during the 11-07-2024 to 15-07-2024 subscription window determined the final allocation pattern.
The basis of allotment was announced on 16-07-2024, finalizing share distribution to successful applicants. The listing represents a significant corporate development, providing the company with enhanced visibility and access to public capital markets.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Sahaj Solar IPO About Company
Sahaj Solar Limited, founded in 2010, is a leading renewable energy solutions provider with three key business units. The company operates a state-of-the-art PV module manufacturing facility in Bavla, Ahmedabad, Gujarat, spanning 2,883.77 square meters, including 2,445.5 square meters of factory and office space, with a production capacity of 100 MW. This automated facility manufactures mono and polycrystalline PV modules, including advanced mono PERC modules, catering to domestic and international solar projects. Additionally, Sahaj Solar offers solar water pumping systems and end-to-end EPC services, covering design, supply, installation, testing, commissioning, and maintenance for projects of all sizes. As of September 30, 2023, the company employed over 64 professionals across various departments, reinforcing its expertise in the solar energy sector.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sahaj Solar IPO Strength Factors
- Broad Customer Base & Strong Order Book: A well-diversified customer portfolio with a substantial order book provides business stability and sustained demand.
- Cutting-Edge Manufacturing Facilities: State-of-the-art, globally accredited manufacturing units ensure high-quality production and international competitiveness.
- Extensive Retail Footprint: A robust pan-India retail network enables efficient product distribution and strengthens market presence nationwide.
Sahaj Solar IPO Risk Factors
- Leased Registered Office: Operating from a non-owned registered office may pose risks to business stability and continuity.
- Revenue Concentration Risk: Dependence on a few major customers increases financial vulnerability in case of customer loss or reduced business.
- Supplier Reliance: Heavy dependence on key suppliers without long-term agreements may lead to procurement challenges, cost fluctuations, and supply chain disruptions.
Sahaj Solar IPO Lead Manager(s)
- Kunvarji Finstock Private Limited
Sahaj Solar IPO Promoter(s)
- Pramit Bharatkumar Brahmbhatt
- Varna Pramit Brahmbhatt
- Manan Bharatkumar Brahmbhatt
Sahaj Solar IPO FAQs
Sahaj Solar Limited IPO subscribed 513.15 times. The public issue subscribed 534.26 times in the retail category,214.27times in QIB, and -- times in the HNI (10+) category byNovember 21, 2025 12:52:00 PM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sahaj Solar IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Sahaj Solar IPO FAQs
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If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .