AHAsolar Technologies Limited brings its IPO on the 10th of July 2023, To be listed on BSE SME platform

Ahmedabad (Gujarat) [India], July 7: Ahmedabad based AHAsolar Technologies Limited, engaged in the business of CleanTech enabling Energy Transition through Digital Transformation, brings its IPO of 818400 shares, with an equity price of Rs. 157 per equity share of Rs 10 face value each, aggregating to Rs. 12.84 crores. The minimum lot size is 800 shares. Out of 818400 shares, 3,88,000 shares will be reserved for the HNI quota, 3,88,000 shares for the retail quota and 42,400 shares will be reserved as the market maker quota. The issue opens on the 10th of July and closes on the 13th July 2023. It will subsequently be listed on the BSE SME platform. The lead manager to the issue is Beeline Capital Advisors Private Limited. 

The key objectives of the issue are 

1. Development of Solar PV Plant 

2. Setting up of Electric Vehicle Charging Infrastructure  

3. Purchase of Electric Vehicles 

4. To Meet Working Capital Requirements  

5. General Corporate Purposes 

6. Public Issue Expenses 

AHAsolar Technologies Limited is engaged in the business of CleanTech enabling Energy Transition through Digital Transformation and henceforth empowering stakeholders to adopt renewable energy. The company does this through multiple digital solutions and advisory in the field of renewable energy. It is a DPIIT recognised startup and registered vide registration no. DIPP34701. The core idea of AHAsolar is to work in the space of Climate Change, Renewable and Digital space. Its primary focus in renewable energy has been in the solar industry and has developed an AI based intelligent Solar Digital Platform. It has developed Software as a Service (SaaS) products for solar companies to streamline the processes, design PV, do project management and monitor generation along with an integrated Marketplace to connect the demand & supply digitally. Apart from this, another SaaS product is for the governments to implement the distributed renewable programme in their services area. Its core business can be divided in following categories: Solar Software Service, Solar Marketplace, Solar Advisory and Consultancy Service. The company has a strong order book of 22 ongoing projects. It has completed projects for GEDA, GUVNL, JAKEDA, Goa EDA, Adani Green, Larsen & Toubro, KPMG among others. 

AHAsolar Technologies has registered an impressive financial growth over the years. Its revenue from operations stood at Rs. 2104.23 lakhs for FY23, which was Rs. 1,713.33 lakhs for FY22 and Rs. 187.61 lakhs for FY21. Its PAT for FY23 was Rs. 176.38 lakhs, while PAT was Rs. 68.63 lakhs for FY22 and Rs. 7.91 lakhs for FY21. 

The promoters of the company are Mr. Piyushkumar Vasantlal Bhatt, Mr. Pulkit Dhingra, Mr. Shatrughan Harinarayan Yadav and Mr. Vipin Sharma and have a combined experience of over 48 years in Renewable Energy and Information Technology Industry. 

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The post AHAsolar Technologies Limited brings its IPO on the 10th of July 2023, To be listed on BSE SME platform appeared first on City Lights.

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