Ahasolar Technologies, a manufacturer of solar modules and solutions, opened its initial public offering (IPO) on July 10, 2023. The IPO is seeking to raise ₹12.85 crores through the IPO.
The IPO is a fixed price issue, with the shares being offered at ₹157 apiece. The lot size is 800 shares, and the minimum investment amount is ₹1,25,600.
The IPO has been subscribed 1.83 times on the first day, with strong demand from retail investors. The retail category has been subscribed 3.28 times, while the QIB category has been subscribed 0.01 times. The NII category is yet to be fully subscribed.
The IPO is expected to list on the BSE SME on July 21, 2023.
Here is a closer look at the Ahasolar Technologies IPO:
- Company profile: Ahasolar Technologies is a manufacturer of solar modules and solutions. The company was founded in 2015 and is headquartered in Ahmedabad, Gujarat. Ahasolar Technologies has a manufacturing facility in Ahmedabad with a capacity of 100 MW. The company also has a sales and distribution network across India.
- Business overview: Ahasolar Technologies’s business consists of the manufacturing, sales, and distribution of solar modules and solutions. The company’s solar modules are used in a variety of applications, including rooftop solar systems, ground-mounted solar systems, and solar water pumps. Ahasolar Technologies also provides solar solutions, such as solar power plants and solar rooftop systems.
- Financial performance: Ahasolar Technologies has been growing its revenue and profits steadily in recent years. In FY22, the company’s revenue was ₹63 crores and its profit was ₹12 crores.
- Investment opportunity: The Ahasolar Technologies IPO is a good opportunity for investors to invest in a growing solar energy company. The company has a strong track record of financial performance and is well-positioned to benefit from the growing demand for solar energy in India.
Analysts have given a positive outlook on the Ahasolar Technologies IPO. They believe that the company has a strong growth potential in the solar energy market. The company is also well-positioned to benefit from the government’s focus on renewable energy.
What to look out for:
Investors should keep an eye on the following factors before investing in the Ahasolar Technologies IPO:
- The demand from QIBs
- The final allotment results
- The listing price of the shares
The Ahasolar Technologies IPO is a good opportunity for investors to invest in a growing solar energy company. However, investors should do their own research before investing.
- The IPO is being managed by Kfin Technologies Limited.
- The shares are proposed to be listed on the BSE SME.
- The grey market premium for the Ahasolar Technologies IPO is ₹38.