Ahasolar Technologies IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jul 13, 2023Let’s have a detailed review of the company and analytics of the Ahasolar Technologies IPO release date, IPO offer price, subscription, Ahasolar Technologies Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 157 |
| Listing At | BSE, SME |
| Min. Order Quantity | 800 Shares |
| Listing Date | 21 July 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 1,285 Lakh |
| IPO Size | Rs 1,285 Lakh |
| Tick Size | 1 |
Ahasolar Technologies IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Ahasolar Technologies Share Price |
Ahasolar Technologies IPO – Summary
Their Company was originally incorporated as “Ahasolar Private Limited” as a Private Limited Company under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated July 28, 2017, issued by the Registrar of Companies, Central Registration Centre.
Pursuant to a special resolution passed by their Shareholders in the Extra-Ordinary General Meeting held on December 15, 2022, the name of their Company was changed to “Ahasolar Technologies Private Limited” and a fresh certificate of incorporation dated December 22, 2022, was issued to their Company by the Registrar of Companies, Ahmedabad.
The Promoter of this company is MR. PIYUSHKUMAR VASANTLAL BHATT, MR. PULKIT DHINGRA, MR. SHATRUGHAN HARINARAYAN YADAV AND MR. VIPIN SHARMA. The lead manager of the issue is BEELINE CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar of this issue is KFIN TECHNOLOGIES LIMITED.
Ahasolar Technologies IPO Date
The opening and closing dates of Ahasolar Technologies IPO are 10 July 2023 and 13 July 2023 respectively.
Ahasolar Technologies IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 10th Jul | 0.38x | 3.28x | 1.83x |
| 2nd Day – 11th Jul | 1.89x | 12.01x | 6.96x |
| 3rd Day – 12th Jul | 6.04x | 22.82x | 14.43x |
| 4th Day – 13th Jul | 23.37x | 46.18x | 34.79x |
| Shares Offered or Net Issue | 388,000 | 388,000 | 818,400 |
The shares subscribed by the public will be updated here.
Ahasolar Technologies IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Ahasolar Technologies Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | 18 July 2023 |
| Refunds Initiation | 19 July 2023 |
| Credit of Shares to Demat Account | 20 July 2023 |
| Share Listing Date | 21 July 2023 |
Ahasolar Technologies IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.157
Ahasolar Technologies IPO Equity Size
This Initial Public Issue of 818,400 Equity Shares of Rs.10 each for cash at a price of Rs.157 per equity share aggregating to Rs.1,285 Lakh.
Ahasolar Technologies IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 818,400 Equity Shares of Rs.10/ each.
Issue Size: 818,400 Equity Shares of Rs.10 each, aggregating to Rs.1,285 Lakh
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Ahasolar Technologies IPO – Live Performance
The listing date of this IPO is 21 July 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Ahasolar Technologies Share Price |
Ahasolar Technologies IPO Grey Market Premium
The Ahasolar Technologies Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Ahasolar Technologies IPO – Company Overview
Their Company is engaged in the business of CleanTech enabling Energy Transition through Digital Transformation and henceforth empowering stakeholders to adopt renewable energy. Their Company do this through multiple digital solutions and advisory in the field of renewable energy.
Also, their Company is a DPIIT-recognised startup and registered vide registration no. DIPP34701. The core idea of AHAsolar is to work in the space of Climate Change, Renewable and Digital space. Their primary focus in renewable energy has been in the solar industry and to cater for it they developed an AI-based intelligent Solar Digital Platform.
They have developed Software as a Service (SaaS) products for solar companies to streamline the processes, design PV, do project management and monitor generation along with an integrated Marketplace to connect the demand & supply digitally.
Apart from this, another SaaS product is for the governments to implement the distributed renewable programme in their service area
Ahasolar Technologies IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 31-Mar-23 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 525.56 | 237.37 | 85.47 | 138.63 |
| *Total Revenue | 2,105.16 | 1,714.64 | 187.73 | 128.70 |
| Total Expense | 1,932.07 | 1,622.08 | 176.98 | 126.42 |
| Profit After Tax | 176.38 | 68.63 | 7.91 | 2.07 |
Earnings per Equity Share (in Lakh)
| 31-Mar-23 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 7.94 | 4.28 | 0.49 | 0.13 |
Further, their PAT for the period ended on Mar 31, 2023, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 176.38 Lakh, Rs. 68.63 Lakh, Rs. 7.91 Lakh and Rs. 2.07 Lakh respectively.
Ahasolar Technologies IPO – Promoters
The Promoter of this company is:
- MR. PIYUSHKUMAR VASANTLAL BHATT,
- MR. PULKIT DHINGRA,
- MR. SHATRUGHAN HARINARAYAN YADAV
- MR. VIPIN SHARMA
List of Related Parties (Key Managerial Personnel)
- Piyushkumar Vasantlal Bhatt – Chairman and Managing Director
- Pulkit Dhingra – Whole Time Director
- Shatrughan Harinarayan Yadav – Executive Director
- Garima Heerani – Executive Director
- Ashokkumar Ratilal Patel – Independent Director
- Sharadchandra Babhutabhai Patil – Independent Director
- Vilin Devkaran Davda – Independent Director
Ahasolar Technologies IPO – Promoters Holding
- Pre-Issue Share Holding – 50.31%
- Post-Issue Share Holding – 36.95%
Ahasolar Technologies IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 818,400 Equity Shares aggregating up to Rs.1,285 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 42,400 Equity Shares aggregating up to Rs.66.57 Lakh |
| Net Issue to the Public | Up to 7,76,000 Equity Shares aggregating up to Rs. 1,218.32 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 3,88,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 3,88,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 22,63,888 Equity Shares |
| Equity Shares outstanding after the Issue | 30,82,288 Equity Shares |
Ahasolar Technologies IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- 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 Technologies IPO – Business Strategy
- Focus on Increase in Volume of Sales
- Reduction of operational costs and achieving efficiency
- To increase brand visibility
- Maintaining an edge over competitors
- Customer Satisfaction
Ahasolar Technologies IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Promoters and Management Team
- Well-defined organizational structure
- Existing Supplier Relationship
- Customer Relationship
- Asset Light Business Model:
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 7.94 | 43.54% | 17.89 |
| 31-Mar-22 | 4.28 | 19.95% | – |
| 31-Mar-21 | 0.49 | 87.20% | – |
| Mar-20 | 0.13 | 78.52% | – |
Ahasolar Technologies IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Revenue from operations (Rs. in Lakhs) |
|
| Ahasolar Technologies Limited | 10 | 19.77 | 7.94 | 43.54% | 2,104.23 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Ahasolar Technologies IPO Lead Managers
| Lead Managers |
| BEELINE CAPITAL ADVISORS PRIVATE LIMITED SEBI Registration Number: INM000012917 Address: B 1311-1314 Thirteenth Floor, Shilp Corporate Park, Rajpath Rangoli Road, Thaltej, Ahmedabad, Ahmadabad City, Gujarat – 380054 India. Telephone Number: +91 79 4918 5784 Email Id: mb@beelinemb.com Investors Grievance Id: ig@beelinemb.com Website: www.beelinemb.com Contact Person: Mr Nikhil Shah CIN: U67190GJ2020PTC114322 |
Ahasolar Technologies IPO Registrar to offer
| Registrar to the Offer |
| KFIN TECHNOLOGIES LIMITED SEBI Registration Number: INR000000221 Address: Selenium Tower-B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana, India. Tel. Number: +91 40 6716 2222 Email Id: ahasolar.ipo@kfintech.com Investors Grievance Id: einward.ris@kfintech.com Website: www.kfintech.com Contact Person: M Murali Krishna CIN: U72400TG2017PLC117649 |
Ahasolar Technologies IPO – Other Details
- Statutory Auditor – M/S. K. C. Parikh & Associates, Chartered Accountants
- Legal Counsel to the Company – ANA ADVISORS
- Bankers to the Company – HDFC Bank Limited
Ahasolar Technologies IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Ahasolar Technologies Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Ahasolar Technologies IPO Review FAQs
Check out various FAQs related to Ahasolar Technologies IPO:
What is the Issue Size of Ahasolar Technologies IPO?
The Company is making an initial public offer of 818,400 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Ahasolar Technologies IPO?
The price band for this particular IPO ranges between Rs 157. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Ahasolar Technologies IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 10 July 2023, while the closing date is set at 13 July 2023.
What is the Ahasolar Technologies IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 18 July 2023, refund initiation is on 19 July 2023, credit of shares is on 20 July 2023, and share listing date is on 21 July 2023.
What is the Ahasolar Technologies IPO Listing Date?
Shares of this company shall be listed in the exchanges on 21 July 2023. The date, when the listing would be done, is stagnant on 21 July 2023.
Who is the Registrar of Ahasolar Technologies IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFIN TECHNOLOGIES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Ahasolar Technologies IPO?
Here are the promoters of this IPO – MR. PIYUSHKUMAR VASANTLAL BHATT, MR. PULKIT DHINGRA, MR. SHATRUGHAN HARINARAYAN YADAV AND MR. VIPIN SHARMA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Ahasolar Technologies IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Ahasolar Technologies IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Ahasolar Technologies Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 176.38, 2022 is 68.63, 2021 is 7.91, and 2020 is 2.07.
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