Ahasolar Technologies shares surge after bumper listing

The Ahasolar Technologies SME IPO comprised fresh issuance of shares worth up to Rs 12.9 crore.

Ahasolar Technologies shares made a strong debut on BSE's SME platform. | Image: Reuters

Ahasolar Technologies shares made a strong debut on BSE's SME platform on Friday, listing at Rs 203 apiece — a 29.3 per cent premium over the issue price of Rs 157 apiece. Newly-listed shares in Ahasolar Technologies — a clean technology platform that enables the adoption of solar energy digitally — got locked in the upper circuit at five per cent, at Rs 213.2 apiece, minutes after the listing.

Ahasolar Technologies shares were listed and admitted to dealings on the exchange in the list of MT group securities, which comprises small and medium enterprises (SMEs), according to an exchange notification. The stock — traded with the symbol AHASOLAR — was listed on the BSE SME platform.

The Ahasolar Technologies SME IPO comprised fresh issuance of shares worth up to Rs 12.9 crore.

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Here's all you need to know about the Ahasolar Technologies shares:

Important dates

The Ahasolar SME IPO was open for subscription for four trading days, from July 10 to July 13. Under the IPO, Ahasolar Technologies shares were available at Rs 157 apiece in multiples of 800, translating to Rs 1,25,600 per lot.

Fund utilisation

The company aims to utilise the proceeds from the issue will towards the development of a solar PV plant, setting up of electric vehicle charging infrastructure, purchasing of electric vehicles, working capital requirements, and for general corporate purposes, according to the red herring prospectus.

What does Ahasolar Technologies do?

Ahasolar Technologies is an AI-powered clean technology platform for solar installers and government agencies, optimising processes, sales, design and operations to increase profitability and productivity. Founded as a start-up in July 2017, Ahasolar has evolved into a profitable company that has left an indelible impact on the industry, according to its website.

The company operates in four segments: solar software service, solar marketplace, solar advisory and consultancy service.

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