Ahasolar Technologies, incorporated on July 28, 2017, specializes in cleantech and facilitates the transition to renewable energy through digital transformation. The company empowers stakeholders by offering various digital solutions and advisory services in the field of renewable energy
| Bidding Dates |
|---|
| 10 Jul 2023 - 13 Jul 2023 |
| Subscription |
|---|
| 33.04x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,25,600 | 1 | 1 | 800 | 818.4 K | ₹157 | 73.45 % | ₹128.5 M | RHP DOC |
Ahasolar Tech IPO SUBSCRIPTION STATUS
13 Jul '23Ahasolar Tech IPO overall subscription rate was 33.04 times the total available shares
Ahasolar Tech IPO retail subscription rate was 43.79 times in the retail segment
Ahasolar Tech IPO non-institutional investor subscription rate was 22.29 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
13 Jul 2023 (Day 4) | 43.79x | 22.29x | - |
12 Jul 2023 (Day 3) | 21.64x | 5.84x | - |
11 Jul 2023 (Day 2) | 11.39x | 1.9x | - |
10 Jul 2023 (Day 1) | 3.11x | 0.46x | - |
Ahasolar Tech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 6MFY23 | 2.7 | 100.1 | 1.3 | -2.4 |
| FY22 | 6.9 | 171.3 | 3.2 | -2.2 |
| FY21 | 0.8 | 18.8 | 1.0 | 1.0 |
| FY20 | 0.2 | 12.9 | -2.0 | -2.2 |
Ahasolar Tech IPO SUBSCRIPTION STATUS DETAILS
Ahasolar Tech had 818.4 K shares on offer
Ahasolar Tech IPO offer price was ₹157
Ahasolar Tech IPO minimum Investment was ₹125600
Ahasolar Tech IPO issue size was ₹ 128.4 M
Ahasolar Tech had a minimum lot size of 800 Shares per application
Ahasolar Tech NUMBER OF SHARES ON OFFER
Ahasolar Tech IPO IMPORTANT DATES
| Issue Open Date | 10 Jul 2023 |
| Issue close Date | 13 Jul 2023 |
| Allotment Date | 18 Jul 2023 |
| Refund Date | 19 Jul 2023 |
| Demat Account Credit Date | 20 Jul 2023 |
| Listing Date | 21 Jul 2023 |
| Listing on Exchange(s) | BSE |
| Ahasolar Tech Allotment Status | Exchange |
Ahasolar Tech IPO subscription opened on 10 Jul 2023, and closed on 13 Jul 2023
IPO allotment for Ahasolar Tech was finalized on Tuesday, 18 Jul 2023
IPO listing for Ahasolar Tech was on BSE on Friday, 21 Jul 2023
Ahasolar Tech IPO LISTING GAINS
| Issue Price (adjusted) | 157.0 |
| Listing Open Price | 203.0 |
| Listing Close Price | 213.2 |
| Listing Gain% | 29.3% |
| Current Gain% | -49.0% |
Ahasolar Tech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ahasolar Technologies Ltd. | 80 | 24.7 | 119.9 | -1 | 0.3 | 1.4 | 1 | 92.3 | 57.8 | 0.2 | 121.5 | 0.7 | -121.5 |
| Sagility Ltd. | 43.6 | 20429.3 | 20.6 | 0.4 | 2.7 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| International Gemological Institute Ltd. | 354.4 | 15313.6 | 25.1 | 1 | 11.2 | 47.8 | 38.3 | 1661.9 | 52.7 | 711.2 | 66.4 | 14.1 | 24.3 |
| Indiabulls Ltd. | 28.8 | 6709.1 | 16 | 0 | 6.1 | 8.9 | 6.6 | 880.8 | 172602 | 273.9 | 501.6 | 1.8 | 739.2 |
| SIS Ltd. | 427.4 | 6038.8 | 41.2 | 0.2 | 0.4 | 5.4 | 1.8 | 16030.1 | 20.9 | 137.8 | 1069.1 | 10.4 | 261.6 |
| eMudhra Ltd. | 530 | 4389 | 38.1 | 1.5 | 5.9 | 11.8 | 8.9 | 713.2 | 35.1 | 107.8 | 27.4 | 13.9 | 25.5 |
Ahasolar Tech INFORMATION ON IPO ISSUE
About Ahasolar Tech
Ahasolar Technologies, incorporated on July 28, 2017, specializes in cleantech and facilitates the transition to renewable energy through digital transformation. The company empowers stakeholders by offering various digital solutions and advisory services in the field of renewable energy
Object of the Issue
- Development of solar PV plant
- Setting up of electric vehicle charging infrastructure
- Purchase of electric vehicle
- To meet working capital requirements
- General corporate purpose
- To meet public issue expenses
Ahasolar Tech - PROMOTERS
| Name |
|---|
| Piyushkumar Vasantlal Bhatt |
| Pulkit Dhingra |
| Shatrughan Harinarayan Yadav |
| Vipin Sharma |
Ahasolar Tech Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Ahasolar Tech Registrar to the issue
Kfin Technologies Private Limited
ahasolar.ipo@kfintech.com
Ahasolar Tech Strengths
Asset-light business model
The company follows a distinctive service-centric business model and operates as an asset-light organization. This provides the company with a competitive advantage when selecting suppliers
Supplier and customer relationships
The company benefits from strong supplier relationships, ensuring reliable supply, competitive pricing, and quality products and services. It focuses on addressing customer needs and provides tailor-made specifications, fostering repeat business
Ahasolar Tech Risks
Dependent on few customers
The company relies heavily on a limited number of customers for its sales. The potential loss of any of these major customers could have a significant impact on the company's revenue and profitability
Dependent on one business vertical
A significant portion of the company's operational revenue comes from AHA Market, which is characterized by high volume but low margins
IPO FAQs
The promoters of the company are Piyushkumar Vasantlal Bhatt, Pulkit Dhingra, Shatrughan Harinarayan Yadav and Vipin Sharma.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 157.0 - 157.0.
The IPO application opens on Jul 10, 2023 and closes on Jul 13, 2023.
The minimum lot size for the IPO is 800. The maximum lot size for the IPO is 800.
For all category investors, the minimum application amount for this IPO is Rs. 125,600.0, the maximum value for this IPO is Rs 125,600.0.
This IPO will be allotted on Jul 18, 2023.
The refund will be credited to your account on Jul 19, 2023.
The allotted shares will be credited to your demat on Jul 20, 2023.
Ahasolar Technologies Ltd.’s shares listed on the stock exchanges on Jul 21, 2023.