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Sahaj Solar IPO Receives Overwhelming Demand, Allotment Today

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The initial public offering of Sahaj Solar Ltd, a leading provider of renewable energy solutions, has garnered exceptional demand from investors, signaling a strong market reception. The subscription period for the Sahaj Solar IPO concluded on July 15, and investors now eagerly await the allotment results, which are expected to be finalized today.

Sahaj Solar IPO, which opened on July 11, saw overwhelming interest from investors, reflecting confidence in the company’s growth prospects. The basis of allotment for the IPO will soon be determined by Sahaj Solar Ltd, with shares set to be credited to eligible investors’ demat accounts on July 18. Refunds for unsuccessful bidders will also be initiated on the same day.

Investors can conveniently check the Sahaj Solar IPO allotment status online through the NSE website or the IPO registrar’s official portal. Kfin Technologies is the designated registrar for the Sahaj Solar IPO.

Sahaj Solar IPO shares have been commanding a robust premium in the unlisted market. The Grey Market Premium (GMP) for Sahaj Solar IPO today stands at Rs 240 per share, indicating a significant premium over the issue price of Rs 180 per share.

The overwhelming response to the Sahaj Solar IPO was reflected in its subscription numbers, with the IPO being oversubscribed by an impressive 507.21 times in total. The public issue received bids for 98.88 crore equity shares against the offer size of 19.49 lakh shares.

Sahaj Solar Ltd, led by promoters Pramit Brahmbhatt, Varna Brahmbhatt, and Manan Brahmbhatt, aims to utilize the IPO proceeds for working capital requirements and general corporate purposes, aligning with its strategic growth plans.

Kunvarji Finstock Pvt Ltd played a pivotal role as the book running lead manager for the Sahaj Solar IPO, ensuring a seamless offering process. The IPO registrar, Kfin Technologies, will oversee the allocation and distribution of shares to successful bidders.

Sahaj Solar’s manufacturing facility, located in Bavla, Ahmedabad, Gujarat, boasts a capacity of 100 MW, underscoring its commitment to sustainable energy solutions. Founded in 2010, Sahaj Solar Limited continues to position itself as a prominent player in the renewable energy sector.

Rachel Adams

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