Sahaj Solar Limited IPO

About Sahaj Solar Limited

Sahaj Solar Limited is a renewable energy solution provider based in Gujarat, India. Established in 2010 as Sahaj Solar Private Limited, the company transitioned to a public limited company in 2023. Sahaj Solar specializes in three key areas: manufacturing photovoltaic (PV) modules, providing solar water pumping systems, and offering engineering, procurement, and construction (EPC) services.

The company’s PV module manufacturing plant in Bavla, Ahmedabad, boasts a capacity of 100 MW. This facility produces high-quality, affordable solar panels using advanced crystalline photovoltaic technology. These panels, sold under the brand name "SAHAJ," are available in both mono and polycrystalline variants, ensuring efficiency and reliability for various solar projects.

Sahaj Solar also excels in providing solar water pumping systems. These systems convert solar energy into electricity, powering motors, and pumps to extract water from various sources such as borewells, rivers, lakes, or ponds. This technology supports farmers by enabling year-round crop production, independent of grid power, aligning with government initiatives like the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM KUSUM) scheme.

In addition to manufacturing and solar water pumping solutions, Sahaj Solar offers comprehensive EPC services. These services encompass the design, supply, installation, testing, commissioning, and maintenance of solar projects, ranging from small domestic installations to large-scale solar power plants.

The company holds several industry certifications, including ISO 9001:2015 and CE – 2010, underscoring its commitment to quality. With a strong presence across India, Sahaj Solar serves both government and private clients, contributing significantly to the country's renewable energy landscape.

Industry Outlook:

1. Solar power accounted for 66% of the 362 GW of new renewable capacity added globally in 2022. This rapid growth in solar PV highlights the increasing demand for solar energy solutions, creating significant opportunities for Sahaj Solar Limited to expand its market share.
2. India's renewable energy capacity stood at 136.6 GW as of December 2023, with a target to reach 450 GW by 2030. Solar power's installed capacity increased by 26 times in the last nine years, reaching 73.32 GW in December 2023. This rapid expansion aligns with Sahaj Solar Limited's growth strategy in the Indian market.
3. India's commitment to achieving net-zero carbon emissions by 2070 and meeting 50% of its electricity needs from renewable sources by 2030 fosters a supportive environment for renewable energy companies.

Sahaj Solar Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. Utilise up to ₹3,942 lakhs from the Net Proceeds to meet its working capital requirements for the fiscal year 2024-25.
2. Covering general corporate expenses to support business growth and operations.

Peer Details

The following are the listed companies in India that operate in a business similar to Sahaj Solar Limited:

1. Shakti Pumps (India) Limited
2. Zodiac Energy Limited
3. Solex Energy Limited

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Contact Details of Sahaj Solar Limited IPO

• Registered office: Office No. 301, Ashirvad Paras, Opp. Prahladnagar Garden, Satellite, Ahmedabad, Gujarat, India, 380051
• Phone: +91-079-68171800
• E-mail: cs@sahajsolar.com