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The initial public offer (IPO) of Ahasolar Technologies received bids for 14,64,000 shares as against 8,18,400 shares on offer, as per BSE data as of 15:00 hours on Monday (10 July 2023). The issue was subscribed 1.78 times.
The issue opened for bidding on Monday (10 July 2023) and it will close on Thursday (13 July 2023). The IPO price was fixed at Rs 157 per share. The minimum order quantity is 800 shares. The equity shares are proposed to be listed on SME Platform of BSE.
The IPO comprises fresh issue of 8,18,400 equity shares, aggregating upto Rs 12.84 crore . The promoter and promoter group shareholding will dilute to 36.95% post IPO from 50.31% pre-IPO.
About 42,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 7,76,000 equity shares. The issue and the net issue will constitute 26.55% and 25.18%, respectively of the post issue paid-up equity share capital of the company.
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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