Ahasolar Technologies IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Ahasolar Technologies IPO will open on July 10 and close on July 13, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 12.84 crores through this public offering, consisting of 8.18 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 157 per share.

Ahasolar Technologies Limited (“the Company”)

Incorporated in 2017, Ahasolar Technologies Limited is engaged in the business of cleantech, enabling Energy Transition through Digital Transformation and henceforth empowering stakeholders to adopt renewable energy. The company does this through multiple digital solutions and advisory services in the field of renewable energy. The company is a DPIIT-recognized startup and registered under registration no. DIPP34701. The core idea of AHAsolar is to work in the areas of Climate Change, renewable energy, and Digital technology.

Its primary focus in renewable energy has been the solar industry, and to cater to it, they developed an AI-based intelligent Solar Digital Platform. Companies have developed Software as a Service (SaaS) products for solar companies to streamline processes, design PV, do project management, and monitor generation, along with an integrated Marketplace to connect demand and supply digitally. Apart from this, another SaaS product is for governments to implement the distributed renewable program in their service areas.

Its Core business can be divided into the following categories:

1. Solar Software Service
2. Solar Marketplace
3. Solar Advisory and Consultancy Service

The company is also involved in the business of providing advisory services for sustainable development and the energy transition to renewables.

Its key expertise includes:

1. Software and Advisory on Process Management
2. Software related to solar EPC companies for PV design, project management, procurement, monitoring, ERP, and CRM
3. Solar Project Management
4. Advisory on policy and regulation related to renewable energy
5. Transactional Advisory on the Transformation of Companies, Cities, and States to Renewables
6. E-commerce for solar products
7. Drone Surveys
8. Automation

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

1. Development of a Solar PV Plant
2. Setting up an Electric Vehicle Charging Infrastructure
3. Purchase of an electric vehicle
4. To Meet Working Capital Requirements
5. General Corporate Purpose
6. To meet Public Issue Expenses

Financial Highlights (Restated)

Particulars	The Period ended on 30th Sep. 2022	FY 2021-22	FY 2020-21	FY 2019-20
Net Worth	136	79	10	2
Total Assets	317	237	85	139
Reserve & Surplus	18	78	9	1
Total Borrowings	58	58	24	23
Total Revenue	1,002	1,715	188	129
Profit After Tax	27	69	8	2

IPO details

As per the DRHP filed with SEBI, 8.18 lakh shares will be offered as a fresh issue in the BSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 42,400 shares of the offering. While Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, Kfin Technologies Limited will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.

Issue Type	Fixed Price Issue IPO
IPO Price	₹ 157 per share
Face Value	₹ 10 per share
Market Lot	800 shares
Issue Size	818,400 shares (aggregating up to ₹ 12.84 crores)
Fresh Issue	818,400 shares (aggregating up to ₹ 12.84 crores)
Listing At	BSE SME
Company Promoters	Mr. Piyushkumar Vasantlal Bhatt, Mr. Pulkit Dhingra, Mr. Shatrughan Harinarayan Yadav and Mr. Vipin Sharma

Market Maker detail

Market maker portion

42,400 shares

IPO Reservation

Categories	No. of shares offered
Other shares offered	50% of the net issue
Retail shares offered	50% of the net issue

GMP: Ahasolar Technologies IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Ahasolar Technologies IPO

The issue opens for subscription on July 10, 2023, and closes for subscription on July 13, 2023 (both days inclusive). The basis of allotment will be finalised on July 18, 2023, and the refunds will be initiated on July 19, 2023. In addition, the demat credits are expected to happen on July 20, 2023, and the stock will be listed on the BSE SME on July 21, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening Date	July 10, 2023,
Closing Date	July 13, 2023
Basis of Allotment	July 18, 2023
Initiation of Refunds	July 19, 2023
A credit of shares to Demat A/c	July 20, 2023
Listing Date	July 21, 2023

Lot Size

The lot size of the Ahasolar Technologies IPO is 800 shares. A retail-individual investor can apply for up to 1 lot, i.e. 800 shares of ₹ 125,600.

Applications	Lots	Shares	Amount
Retail (Minimum)	1	800	₹ 125,600
Retail (Maximum)	1	800	₹ 125,600
HNI (Minimum)	2	1,600	₹ 251,200

Promoters Holdings 

Pre-issue Shares Holdings	50.31%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)	IPO DRHP
Company Contact Information	Ahasolar Technologies Limited Office No. 207, Kalasagar Shopping Hub,Opp. Saibaba Temple, Sattadhar Cross Road, Ghatlodiya, Ahmedabad– 380061 Phone: 079-40394029 Email: compliance@ahasolar.in Website: http://www.ahasolar.in/
IPO Registrar	Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: ahasolar.ipo@kfintech.com Website: https://ris.kfintech.com/ipostatus/
IPO Lead Manager(s)	Beeline Capital Advisors Pvt Ltd

FAQs

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