Alpex Solar IPO: Subscription, Date of Listing & Grey Market Premium

The Alpex Solar IPO, valued at ₹74.52 crore, was open for subscription from February 8th to February 12th, with a price range set between ₹109 and ₹115.

New Delhi: The IPO of ALPEX SOLAR, recorded 303 times subscription till last of Bidding, the company said in its official press release on Monday, the company is manufacturer of PV module.

Investors have shown strong interest in the NSE-Emerge IPO of Alpex Solar, subscribing to it 301.45 times. The IPO, valued at ₹74.52 crore, was open for subscription from February 8th to February 12th, with prices ranging from ₹109 to ₹115.

The APLEX SOLAR company want to upgrade and expand its manufacturing facility of Solar Module , increasing its capacity from 450MW to 1.2GW in the existing manufacturing unit, according to release. So company plans to utilise RS 19.55crore of the net proceeds from the IPO.

APLEX SOLAR company utilising RS 12.90 crore to set up new manufacturing unit for its solar module’s Aluminium frame for its solar module and RS 20.49 crore to used as its working capital requirement and for general corporate expenses the remaining capital used.

The issue price band is fixed at RS 109 per equity share to RS 115 per equity share with face value of RS 10 apiece. The consisted fresh issue of 64.8 lakh equity share with face value of RS 10 through book building route.

For the application minimum lot size is 1200 equity shares, the company is proposed to be listed on NSE Emerge.

The Aplex Solar company is Greater-Noida based solar systems manufacturing company aimed to raise total RS 74.52 crore from the issue.

The Retailer Individual Investers quota was subscribed while the Qualified Institutional Buyer was subscribed 133 times, the HNI/NII quota was subscribed 471 times and overall subscription to 303 times till the final day of bidding on Monday, February 2024.

Alpex Solar Revenue, Profit

The solar energy solutions company made a consolidated net profit of Rs 3.78 crore for the year ending March FY23, a significant increase from Rs 0.2 crore in the previous year. Revenue from operations during the same period increased to Rs 194.68 crore from Rs 165.6 crore.

For the six months ending September FY24, the net profit was Rs 7.6 crore with revenue totaling Rs 212.76 crore.

Alpex Solar Price per Share

The IPO, valued at ₹74.52 crore, was open for subscription from February 8th to February 12th, with prices ranging from ₹109 to ₹115.

Shares in Deamat Date

Alpex Solar will determine the allotment basis of IPO shares by February 13, and eligible investors will receive their equity shares in demat accounts by February 14.

Listing Date

Trading of its equity shares will commence on the stock exchanges starting February 15.

Grey Market Premium(GMP)

Market observers mentioned that Alpex Solar IPO shares traded at a 152 percent premium over the upper price band in the grey market. The grey market is an unofficial platform for trading IPO shares until listing.

(GMP source: moneycontrol)

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