The initial public offering (IPO) of Sahaj Solar, a solar solutions provider, has witnessed an overwhelming response from investors, especially retail investors, on its second day of bidding. The IPO has been subscribed over 70 times so far, indicating a strong demand for the company’s shares.
Retail investors, known for their enthusiasm towards IPOs, have been the driving force behind the massive subscription. This segment has seen a particularly high level of interest, underscoring the confidence in Sahaj Solar’s growth prospects.
The IPO opened for subscription on July 11 and will close on July 15. The company is aiming to raise Rs 52.26 crore through the offering. The price band for the IPO has been fixed at Rs 171 to Rs 180 per share.
Sahaj Solar is a company that provides solutions for using solar energy. With increasing focus on renewable energy and government support for solar projects, the company is seen as a promising player in the growing solar energy market. This, coupled with the overall positive sentiment in the IPO market, has led to the strong response to Sahaj Solar’s IPO.
GMP stands for Grey Market Premium. It is the unofficial price at which the unlisted shares of a company are traded in the grey market before the official listing. A high GMP indicates strong investor interest and expectations of a good listing gain. However, it’s important to note that GMP is not a guaranteed indicator of the actual listing price.
The overwhelming subscription for Sahaj Solar IPO reflects the investor confidence in the company’s business model and future growth prospects. However, as with any investment, it’s essential for investors to conduct thorough research before making investment decisions.