Alpex Solar Limited has announced its Initial Public Offering (IPO), a book-built issue valued at Rs 74.52 crores, consisting entirely of a fresh issue of 64.8 lakh shares.
Alpex Solar IPO Subscription WindowThe bidding for the Alpex Solar IPO commenced on February 8, 2024, and is scheduled to conclude on February 12, 2024.
Alpex Solar IPO Allotment DateThe finalization of allotments is anticipated on Tuesday, February 13, 2024.
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Alpex Solar IPO Listing Date Alpex Solar IPO is set to be listed on NSE SME, with a tentative listing date fixed for Thursday, February 15, 2024.
Alpex Solar IPO Price BandThe price band for the Alpex Solar IPO is established at Rs 109 to Rs 115 per share, with a minimum lot size for an application set at 1200 shares. Retail investors are required to make a minimum investment of Rs 138,000. For High Net Worth Individuals (HNI), the minimum lot size investment is 2 lots (2,400 shares), totaling Rs 276,000.
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Alpex Solar IPO GMPAccording to various sources tracking grey market premium activities, Alpex Solar shares are reportedly commanding a Grey Market Premium (GMP) in the range of Rs 180 to Rs 190 in the unlisted market.
The company’s utilization of Net Fresh Issue Proceeds includes funding Capital Expenditure for the upgrade and expansion of the existing solar module manufacturing facility by increasing capacity to 750 MW. Additionally, funds will be allocated towards setting up a new manufacturing unit for aluminum frames for solar modules.
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Corporate Capitalventures Pvt Ltd serves as the book running lead manager for the Alpex Solar IPO, with Skyline Financial Services Private Ltd appointed as the registrar for the issue. Ss Corporate Securities is the designated market maker for Alpex Solar IPO.
The company was established in August 1993 and Alpex Solar Limited specialises in manufacturing solar panels using monocrystalline and polycrystalline cell technologies. The company offers a diverse range of solar panel modules, including bifacial, mono PERC, and Half-Cut modules. Additionally, Alpex Solar provides solar energy solutions, encompassing AC/DC solar pumps and EPC services for surface and submersible categories.
