Ahasolar Technologies IPO Day 3: Oversubscribed 12.61x
Ahasolar Technologies, a prominent player in the technology sector, is experiencing overwhelming demand for its Initial Public Offering (IPO). As of July 12, the third day of the bidding process, the IPO has been subscribed 12.61 times, highlighting the keen interest of investors. The public issue has received an impressive 97.36 lakh bids for equity shares, surpassing the offer size of 8.18 lakh shares.
In terms of category-wise subscription, Ahasolar Tech IPO has received 19.75 times subscription in the retail category and 5.46 times in the Non-Institutional Investors’ (NII) category. Meanwhile, the Qualified Institutional Buyers (QIB) are yet to place their bids, with the deadline set for 3:45 pm on day 3.
Commencing on July 10 and slated to conclude on July 13, the Ahasolar Technologies IPO comprises a fresh issue of 818,400 equity shares, each with a face value of ₹10. The company aims to raise a total of ₹12.85 crore through this public issue.
It is noteworthy that the IPO follows a fixed price model, with shares being sold at ₹157 apiece during the IPO. For retail investors, the lot size is set at 800 shares, requiring a minimum investment of ₹1,25,600.
Looking ahead, Ahasolar Technologies anticipates listing its shares on BSE SME on July 21, allowing investors to trade and benefit from the company’s potential growth.
Current Grey Market Premium (GMP) for Ahasolar Tech IPO:
The Grey Market Premium (GMP) for Ahasolar Tech IPO, also known as the grey market premium today, stands at ₹24 per share. Market observers suggest that Ahasolar Technologies shares are trading at a premium of ₹24 compared to their issue price in the grey market.
This development implies that the shares of Ahasolar Technologies may be listed at ₹181 apiece, representing a premium of more than 15% over the issue price. Such positive indications in the GMP reflect the market’s confidence in the company’s prospects and generate excitement among potential investors.
About Ahasolar Technologies:
Founded in 2017, Ahasolar Technologies Limited is a CleanTech firm that focuses on driving the Energy Transition through Digital Transformation. Their primary goal is to empower stakeholders by encouraging the adoption of renewable energy sources. With a strong dedication to solar energy and a global impact in mind, Ahasolar streamlines the management, sales, design, and procurement processes related to solar photovoltaic (PV) systems. Their mission revolves around assisting solar companies and governmental organizations in making meaningful and positive changes in the industry.
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