Ahasolar Technologies Limited IPO - Date, Review, GMP & Valuation

Ahasolar Technologies Limited - Complete Overview

Established in 2017, Ahasolar Technologies Limited is a company that operates in the CleanTech sector, focusing on enabling the Energy Transition through Digital Transformation. The company's mission is to empower stakeholders to embrace renewable energy.

The core concept of AHAsolar Technologies revolves around working in the areas of Climate Change, Renewables, and Digital technology. Their primary focus is on the solar industry, and to cater to this sector, the company has developed an AI-based intelligent Solar Digital Platform.

This software assists solar companies in streamlining processes, PV design, project management, and generation monitoring. Additionally, it features an integrated Marketplace that digitally connects the demand and supply of solar solutions.

Another SaaS product offered by the company is designed for governments to implement distributed renewable programs within their service areas.

Ahasolar Technologies has collaborated with various national and international government and private entities to facilitate the accelerated adoption of solar energy through their solutions.

Their presence extends to 38 cities across India, where they offer their products under the names AHA! Rooftop Solar Helper and AHA! Rooftop Solar Helper (Pro).

It is worth noting that the top ten customers have contributed 46.63%, 52.78%, 87.97%, and 89.89% to the total sales of the company for the fiscal years ending on September 2022, March 2022, March 2021, and March 2020, respectively.

 

What does the company do? 

Ahasolar Technologies Limited operates in the CleanTech sector with a key emphasis on facilitating the Energy Transition through Digital Transformation. The company's core areas of expertise lie in Climate Change, Renewables, and Digital technology.

 

 

Company Products

The company provides a range of services including Solar Advisory and Consultancy, Solar Software Solutions, and the AHASolar Marketplace.

 

IPO Overview

Ahasolar Technologies Ltd IPO is another SME IPO set to raise funds through the share market. The IPO is scheduled to open on July 10 and close on July 13, 2023.

The price band for the upcoming IPO has been set by the company at Rs. 157 per share, with a face value of Rs 10 per share. Retail investors are allowed to bid for a maximum of one lot, which consists of 800 shares.

The total issue size of the IPO is 818,400 shares, aggregating up to Rs. 12.85 Crores. Out of this, 50% of the shares are reserved for retail investors, while the remaining 50% is reserved for other investors. Read ahead to get the full SME IPO Details.

 

Ahasolar Technologies Limited IPO timetable (Tentative)

EVENTS	DATE
IPO Opening Date	10 JULY 2023
IPO Closing Date	13 JULY 2023
IPO Allotment Date	18 JULY 2023
Refund initiation	19 JULY 2023
IPO Listing Date	21 JULY 2023

 

Ahasolar Technologies Limited IPO Details

IPO Opening & Closing Date	10 July 2023 to 13 July 2023
Face Value	Rs. 10 per share
Issue Price	Rs. 157 Per share
Lot Size	800 Shares
Price of 1 Lot	Rs 125,600
Issue Size	8,18,400 Shares  (aggregating up to Rs. 12.85 Cr)
Offer for Sale	NA
Fresh Issue	8,18,400 Shares  (aggregating up to Rs. 12.85 Cr)
Listing at	BSE SME
Issue Type	Fixed Price Issue IPO
Registrar	Kfin Technologies Ltd.

 

Ahasolar Technologies Limited IPO Lot Details

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
Minimum Lot Investment (HNI)	2 Lot

 

Ahasolar Technologies Limited IPO Reservation

Other Investors Portion	50%
Retail Investors Portion	50%

 

Company Financial

Amount in Lakhs

Period	FY 21	FY 22	FY 23
Total Assets	85.47	237.37	525.56
Total Revenue	187.73	1714.64	2105.16
Net Profit	7.91	68.63	176.38
Net Worth	10.08	78.71	405.07
Reserve & Surplus	9.08	77.71	178.69
Total Borrowings	24.24	58.18	0.00

 

Business Vertical wise Revenue for the financial years ended on March 31, 2023, 2022, and 2021

Particular	Revenue of FY 23 (Rs. in lakhs)	Revenue of FY 22 (Rs. in lakhs)	Revenue of FY 21(Rs. in lakhs)
Advisory Services	351.20	141.15	64.18
Software License Fees	176.50	100.26	123.43
Market Place	1,576.53	1,471.92	-
Total	2,104.23	1,713.33	187.61

 

Geography wise Revenue for the financial years ended on March 31, 2023, 2022, and 2021

Particular	Revenue of FY 23 (Rs. in lakhs)	Revenue of FY 22 (Rs. in lakhs)	Revenue of FY 21 (Rs. in lakhs)
Domestic Sale	2,065.83	1,713.33	187.61
Export Sale	38.40	-	-
Total	2,104.23	1,713.33	187.61

 

State wise Revenue of Domestic Sale for the financial years ended on March 31, 2023, 2022, and 2021

Particular	Revenue of FY 23 (Rs. in lakhs)	Revenue of FY 22 (Rs. in lakhs)	Revenue of FY 21 (Rs. in lakhs)
Dadra and Nagar Haveli and Daman and Diu	3.23	4.57	-
Delhi	180.54	135.18	75.70
Gujarat	1726.94	1,398.37	107.37
Haryana	57.38	74.88	-
Madhya Pradesh	0.13	-	-
Maharashtra	76.38	27.07	4.54
Rajasthan	1.27	69.24	-
Tamil Nadu	3.13	0.01	-
Telangana	0.65	-	-
Uttar Pradesh	16.18	0.76	-
West Bengal	-	3.25	-
Total	2,065.83	1,713.33	187.61

 

Objective of the Issue

The funds raised by the company through the IPO will be utilized for the following objectives:

• Development of a Solar PV Plant.
• Establishment of Electric Vehicle Charging Infrastructure.
• Acquisition of Electric Vehicles.
• Meeting working capital requirements.
• General corporate purposes.
• Covering public issue expenses.

 

Promoters and Management of Ahasolar Technologies Limited

The company is flourishing under the guidance of a team of experienced professionals. The key promoters of the company included Mr Piyush Kumar Vasantlal Bhatt, aged 52 years, who serves as the Promoter, Chairman, and Managing Director of the Company, Mr Pulkit Dhingra, aged 36 years, is a Promoter and holds the position of Whole Time Director, Mr Shatrughan Harinarayan Yadav, aged 36 years, is a Promoter and holds the position of Executive Director and Mr Vipin Sharma, aged 35 years, is a Promoter and serves as the Chief Operating Officer of the Company.

Pre-issue Promoters Holding	50.31%
Post-issue Promoters Holding	--

 

Peer Comparison

The company does not have any listed peers that can be directly compared to it, as per Ahasolar Technologies Limited DRHP.

 

IPO's Valuations

The IPO of Ahasolar Technologies Limited is scheduled to be listed on BSE SME on July 21, 2023. The IPO has set a share price of Rs. 157 per share. The IPO valuation is determined based on a P/E ratio of 19.77, an EPS of Rs 7.94 per share, a RoNW of 43.54%, and an ROE of 72.92%.

 

Dividend Policy

For the past three financial years, Ahasolar Technologies Limited has not declared any dividends. However, the company plans to establish a dividend distribution policy subsequent to the listing of its shares. The formulation of this policy will consider factors such as the shareholders' preferences, the company's financial position, and its future prospects.

 

IPO's Strengths 

• The company maintains strong relationships with both suppliers and customers.
• The team consists of experienced promoters and a skilled management team.
• The organizational structure is well-defined.

 

IPO Weaknesses

• The company's sales are reliant on a limited number of customers. The loss of any of these major customers could have an impact on their revenues and profitability.
• Acquiring necessary permits, licenses, and approvals is crucial for the company's operations.
• The AHA Marketplace, one of the business verticals of the company, operates on a high volume-low margin business model.

 

 

IPO GMP

Ahasolar Technologies Limited IPO GMP is not yet available.

 

Conclusion

The Ahasolar Technologies IPO presents a promising chance for investors to participate in the emerging CleanTech and renewable energy solutions sector. With a robust market position and an experienced management team, the company holds significant potential. To gain a clearer understanding of the listing price, investors can refer to the GMP of the IPO. It is always advisable to do a thorough analysis of the IPO and careful consideration of the market conditions before making an investment decision for optimal outcomes.

 

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To Read the Prospectus of the Company Click Here to Download the DRHP

 

 

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