AhaSolar IPO Review: Date, Price, Allotment Status & Listing

Ahasolar Technologies Ltd. (ATL) is a company dedicated to CleanTech solutions, leveraging Digital Transformation to drive Energy Transition and enable the widespread adoption of renewable energy. Here is AhaSolar IPO review including date, listing, allotment status and more. Their focus lies in offering various digital solutions and advisory services in the renewable energy sector, catering to both B2B and B2C segments. Read More Business News on our website.

Ahasolar Technologies IPO Review: Date, Price, Listing

ATL is recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) as a startup, with registration number DIPP34701. The core objective of Ahasolar revolves around addressing Climate Change, Renewable Energy, and the Digital space. Within the renewable energy sector, their primary emphasis has been on the solar industry, where they have developed an AI-based intelligent Solar Digital Platform.

Through their Software as a Service (SaaS) products, ATL assists solar companies in streamlining their processes, designing photovoltaic systems, managing projects, and monitoring energy generation. Additionally, they have also created an integrated Marketplace that digitally connects supply and demand. Another SaaS product caters to governments, helping them implement distributed renewable energy programs within their service areas.

As of the filing of this offer document, ATL had a workforce of 42 employees. Their impressive client list includes GEDA, PEDA, GERMI, EESL, GUVNL, UPNEDA, L&T Power, ADB, KPMG, Deloitte, BPCL, HPCL, Coal India, Adani, Solex, GRACE, among others. The company has garnered repeat orders from these clients, having successfully completed over 20 projects to date and currently having 22+ ongoing projects.

Opening Date: 10, July, 2023 – 13, July, 2023
Price: INR 157 per share
Fresh Issue: 8,18,400 shares (INR 12.85 crore)
Minimum bid: 800 shares (INR 125,600)

Conclusion: Should You Apply For This IPO

The company asserts its dominant position in digital services related to solar energy, providing comprehensive solutions in a single platform. While facing initial challenges in FY20 and FY21, it has managed to improve its service offerings significantly, as reflected in its performance in FY22 and FY23. The management expresses confidence in maintaining this positive trajectory in the future.

With a relatively small equity base following the IPO, it suggests a longer period for migration to the mainboard. Despite the issue being priced aggressively, factoring in short-term advantages, well-informed investors may find it worthwhile to invest for potential medium to long-term gains.