IPO Details

Bidding Dates

10 Jul '23 - 13 Jul '23

Minimum Investment

₹ 125,600 / 1 Lots (800 Shares)

Price Range


Maximum Investment

₹ 125,600 / 1 Lots (800 Shares)

Retail Discount

Not Applicable

Issue Size

₹12.85 Cr

Investor category and sub category

Non-Institutional Investors  |   Retail Individual Investor   |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jul 10, 2023

IPO Closing Date

Jul 13, 2023

Basis of Allotment

Jul 18, 2023

Initiation of Refunds

Jul 19, 2023

Credit of Shares to Demat Account

Jul 20, 2023

IPO Listing Date

Jul 21, 2023

UPI Mandatory Expiry Date

Jul 13, 2023

IPO Subscription Details


Day 1Jul 10, 2023

0.38 3.28 1.83

Day 2Jul 11, 2023

1.89 8.05 6.96

Day 3Jul 12, 2023

6.04 22.82 14.43

Day 4Jul 13, 2023

23.37 46.18 34.79

IPO Subscription Status Live

Investor Category Subscription (Times)
Non-Institutional Buyers 23.37
Retail Investors 46.18
Total 34.79

About Ahasolar Technologies Ltd

Ahasolar Technologies is an innovative startup recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). With a strong focus on CleanTech and Energy Transition through Digital Transformation, the company is dedicated to empowering stakeholders to adopt renewable energy solutions. Ahasolar achieves this by offering a range of cutting-edge digital solutions and advisory services in the field of renewable energy.

The company's core mission revolves around addressing the challenges posed by Climate Change and driving advancements in the Renewable and Digital space. Ahasolar places a particular emphasis on the solar industry and has developed an AI-based intelligent Solar Digital Platform. This platform serves as a comprehensive Software as a Service (SaaS) solution for solar companies, enabling them to streamline processes, design photovoltaic systems, manage projects efficiently, and monitor energy generation. Additionally, Ahasolar has created an integrated marketplace that digitally connects the demand and supply of solar solutions.

Ahasolar's innovative approach extends beyond serving private companies. The company has also developed a SaaS product specifically designed for governments to facilitate the implementation of distributed renewable energy programs within their service areas. By providing governments with the necessary tools and support, Ahasolar plays a pivotal role in driving the adoption of renewable energy at a national and international level.

Ahasolar Technologies Limited IPO Details

Ahasolar Technologies Limited IPO is a fresh issue comprising 8,18,400 shares of up to ₹12.85 Cr. The price band is set to ₹157 per share with a face value of ₹10 per share. The lot size is 800 shares. It will be listed on BSE SME. 

Ahasolar Technologies Limited IPO Objectives 

The company proposes to use the net proceeds from the issue towards funding:

  • Development of Solar PV Plant.
  • Setting up of Electric Vehicle Charging Infrastructure.
  • Purchase of electric vehicles.
  • Working capital requirements.
  • General corporate purposes.
  • Public issue expenses. 

Peer Details

There are no listed peer companies operating in the same business line.  

Highlights of Ahasolar Technologies Ltd

  • Through its advisory services, Ahasolar has its footprints across India and is currently working with 38 cities to transform them into solar cities and enable growth namely in Gujarat, Punjab, Uttar Pradesh, Goa, Maharashtra, Telangana, Uttrakhand, Jharkhand, Delhi/NCR, Odisha, Karnataka, Kerala, J&K, etc.
  • The company’s PAT grew at a CAGR of 339.93% between FY 2020 (₹2.07 lakh) to FY 2022 (₹68.63 lakh).
  • The company's net worth has been significantly increasing since the last few fiscal years from ₹2.16 lakhs in the fiscal year 2020 to ₹78.71 lakhs in the fiscal year 2022. As of fiscal 2023, it rose to ₹405.08 lakhs leading to CAGR growth of 472.01%.

Company Financials

Particulars Year ended on March 31, 2023 (Rs. lakhs) Year ended on March 31, 2022 (Rs. lakhs) Year ended on March 31, 2021 (Rs. lakhs)
Revenue from Operations 2,104.23 1713.33 187.61
EBITDA 193.64 93.84 10.91
EBITDA Margin 9.20% 5.48% 5.82%
Profit After Tax (PAT) 176.38 68.63 7.91
PAT Margin 8.38% 4.01% 4.22%
ROE 72.92% 154.60% 129.27%

Know before investing


  1. Since its inception, Ahasolar has established fruitful collaborations with numerous national and international organisations, governments, and private companies.

  2. As a part of its growth strategy, Ahasolar’s focus is on increasing sales volume through expansion, diversification and spread in geographical outreach.


  1. The company has had negative cash flow from operating activity in recent fiscals. And sustained negative cash flow could adversely impact its business, financial condition and results of operations.

  2. The company is dependent on a few number of large customers for sales. The loss of any of these important customers may affect its revenues and profitability.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Ahasolar Technologies Ltd IPO FAQs

What is Ahasolar Technologies Limited's IPO?

The Ahasolar Technologies Ltd IPO is a  fresh issue comprising 8,18,400 shares aggregating up to ₹12.85 Cr. The issue is priced at ₹157 per share. The IPO will open on Monday, 10 July 2023.

When will Ahasolar Technologies Limited's IPO be allotted?

The Basis of Allotment will happen on Tuesday, 18 July 2023.

When will Ahasolar Technologies Limited's IPO open for subscription?

The IPO subscription window will open on Monday, 10 July 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 800 shares.

When will Ahasolar Technologies Limited list on exchanges?

Ahasolar Technologies Ltd IPO will list on the BSE exchange on Friday, 21 July 2023.

How do I check the allotment status of Ahasolar Technologies Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Validate with an OTP
  • Enter your application number, DP ID, and PAN number into the app
  • Click on ‘Submit’

What would be the listing gains on the Ahasolar Technologies Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Friday, 21 July 2023, for Ahasolar Technologies Ltd.

I have finished the application process for the Ahasolar Technologies Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Ahasolar Technologies Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Ahasolar Technologies Limited using one PAN?

You can submit only one application using your PAN card.