Ahasolar Technologies IPO was subscribed by 6.86 times so far on Tuesday, July 11, the second day of the bidding process. On the second day issue received bids for 53.27 lakh shares against the 8.18 lakh shares the company had on offer.
The UPO received 11.86 times subscriptions in the retail category and 1.87 times in the non-institutional buyers category. The qualified institutional buyers are yet to place their bets till 4:30 pm on day 2. Ahasolar Technologies IPO commenced on July 10 and will end on July 13. The issue consists of 8,18,400 fresh equity shares with a face value of Rs 10 per share. The company targets to raise a total of Rs 12.85 crore from the issue.
The IPO is a fixed price and each share is sold at Rs 157 apiece at the IPO.
The lot size of IPO by Ahasolar Technologies is 800 shares and the minimum amount required for retail investors is Rs 1,25,600. The basis of allotment of the shares will be finalized on July 18 and company will start initiation of refunds on July 19, while the equities will be credited to the Demat account of allotees on July 20.
Ahasolar Technologies shares are likely to be listed on BSE SME on July 21.
Company in its filings said that the fresh issue will be used for construction of a solar PV plant, installation of an infrastructure for charging electric vehicles, purchase of electric vehicles meeting working capital, general corporate work and payment of public issue expenses.
Kfin Technologies is the registar of IPO, while Beeline Capital Advisors Ltd is the leading manager for the issue.
