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The scrip was listed at Rs 203, at a premium of 29.30% to the issue price. The scrip hit a high of Rs 213.15 and a low of Rs 203. About 3.98 lakh shares of the company changed hands at the counter.
The initial public offer (IPO) of Ahasolar Technologies was subscribed 33.04 times. The issue opened for bidding on 10 July 2023 and it closed on 13 July 2023. The IPO price was fixed at Rs 157 per share.
The IPO comprised fresh issue of 8,18,400 equity shares, aggregating upto Rs 12.84 crore. The promoter and promoter group shareholding diluted to 36.95% post IPO from 50.31% pre-IPO.
The company intends to utilize the net proceeds for development of solar pv plant, setting up of electric vehicle charging infrastructure, purchase of electric vehicles, to meet working capital requirements and general corporate purpose.
Ahasolar Technologies 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 in the field of renewable energy. The company has developed Software as a Service (SaaS) products for solar companies to streamline the processes, design PV, do project management and monitor generation alongwith an integrated Marketplace to connect the demand & supply digitally. The company has total 42 employees.
The company recorded a revenue from operations of Rs 21.04 crore and net profit of Rs 1.76 crore for the period ended on 31 March 2023.
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