Alpex Solar IPO vs Sahaj Solar IPO

Comparision between Alpex Solar IPO and Sahaj Solar IPO.

IPO Details

Alpex Solar IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Sahaj Solar IPO is a SME Book Built Issue proposed to list at NSE SME.

	Alpex Solar IPO	Sahaj Solar IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	NSE SME	NSE SME
Lead Managers	Corporate Capitalventures Pvt Ltd	Kunvarji Finstock Pvt Ltd
Registrar	Skyline Financial Services Private Ltd	Kfin Technologies Limited
Market Maker	Ss Corporate Securities Limited	Aftertrade Broking Pvt Ltd
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Alpex Solar IPO is up to ₹74.52 Cr whereas the issue size of the Sahaj Solar IPO is up to ₹52.56 Cr. The final issue price of Alpex Solar IPO is ₹115.00 per share and of Sahaj Solar IPO is ₹180.00 per share.

	Alpex Solar IPO	Sahaj Solar IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹109.00 per share	₹171.00 per share
Issue Price (Upper)	₹115.00 per share	₹180.00 per share
Issue Price (Final)	₹115.00 per share	₹180.00 per share
Discount (Retail)
Discount (Employee)		₹15.00 per share
Market Lot Size	1200 shares	800 shares
Fresh Issue Size	64,80,000 shares	29,20,000 shares
Fresh Issue Size (Amount)	up to ₹74.52 Cr	up to ₹52.56 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	64,80,000 shares	29,20,000 shares
Issue Size Total (Amount)	up to ₹74.52 Cr	up to ₹52.56 Cr

IPO Timetable

Alpex Solar IPO opens on Feb 08, 2024, while Sahaj Solar IPO opens on Jul 11, 2024. The closing date of Alpex Solar IPO and Sahaj Solar IPO is Feb 12, 2024, and Jul 15, 2024, respectively.

	Alpex Solar IPO	Sahaj Solar IPO
Anchor Bid Date	Feb 07, 2024	Jul 10, 2024
Issue Open	Feb 08, 2024	Jul 11, 2024
Issue Close	Feb 12, 2024	Jul 15, 2024
Basis Of Allotment (Tentative)	Feb 13, 2024	Jul 16, 2024
Initiation of Refunds (Tentative)	Feb 14, 2024	Jul 18, 2024
Credit of Share (Tentative)	Feb 14, 2024	Jul 18, 2024
Listing date (Tentative)	Feb 15, 2024	Jul 19, 2024
Anchor Lockin End date 1	Mar 14, 2024	Aug 15, 2024
Anchor Lockin End date 2	May 13, 2024	Oct 14, 2024

Financials

Alpex Solar IPO P/E ratio is 54.66, as compared to Sahaj Solar IPO P/E ratio of 10.86.

Alpex Solar IPO

Sahaj Solar IPO

Financial

Alpex Solar Limited Financial Information (Restated Consolidated)

Alpex Solar Limited's revenue increased by 16.25% and profit after tax (PAT) rose by 1849.43% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	14,188.46	12,559.64	10,003.75	9,935.35
Revenue	21,310.72	19,592.07	16,853.62	14,972.96
Profit After Tax	760.58	378.58	19.42	315.23
Net Worth	4,906.86	4,146.29	3,767.70	3,748.28
Reserves and Surplus	4,307.08	3,546.51	3,167.92	3,148.50
Total Borrowing	4,175.15	4,735.73	2,669.98	2,992.68
Amount in ₹ Lakhs

Sahaj Solar Limited Financial Information (Restated Consolidated)

Sahaj Solar Limited's revenue increased by 8.56% and profit after tax (PAT) rose by 106.25% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	14,936.40	9,081.50	6,103.22	3,463.94
Revenue	20,171.55	18,580.48	6,728.95	6,218.78
Profit After Tax	1,337.29	648.37	102.50	70.58
Net Worth	3,293.12	1,637.30	1,002.05	922.01
Reserves and Surplus	2,496.78	859.22	479.99	405.40
Total Borrowing	5,680.86	1,361.97	1,711.35	1,502.87
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

93.53%

97.09%

Promoter Shareholding (Post-Issue)

68.76%

71.28%

P/E Ratio

54.66

10.86

Market Cap

₹281.44 Cr.

₹197.75 Cr.

ROE

9.55%%

39.96%%

ROCE

18.81%%

26.47%%

Debt/Equity

1.14

EPS

₹2.10

₹16.58

RoNW

9.55%%

39.96%%

Shares Offered

In the Alpex Solar IPO retail investors (RII) are offered 21,55,200 shares while in Sahaj Solar IPO retail investors are offered 21,55,200 shares. Qualified institutional buyers (QIB) are offered 12,31,200 shares in Alpex Solar IPO and 5,50,400 shares in Sahaj Solar IPO.

	Alpex Solar IPO	Sahaj Solar IPO
Anchor Investor Reserveration	18,45,600 shares	8,24,000 shares
Market Maker Reserveration	3,24,000 shares	1,46,400 shares
QIB	12,31,200 shares	5,50,400 shares
NII	9,24,000 shares	4,12,800 shares
RII	21,55,200 shares	9,62,400 shares
Employee	0 shares	0 shares
Others
Total	43,10,400 shares	19,49,600 shares

Bids Received (Subscription)

Alpex Solar IPO subscribed 324.03x in total, whereas Sahaj Solar IPO subscribed 507.21x.

	Alpex Solar IPO	Sahaj Solar IPO
QIB (times)	141.48x	214.27x
NII (times)	502.31x	862.35x
Big NII (times)
Small NII (times)
RII (times)	351.89x	535.03x
Employee (times)
Other (times)
Total (times)	324.03x	507.21x

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