Alpex Solar IPO: Retail Portion Booked 345.88 Times, QIB Portion 141.48 Times
by Sandip Das on 12 February 2024, 5 min read
Alpex Solar opened its initial public offer (IPO) for subscription on February 8, 2024, and will close it on February 12, 2024. The company has set the price band for the issue between Rs 109-115 per share. It aims to raise Rs 74.52 crore from the offering, which includes a fresh issue of 64.80 lakh equity shares with a face value of Rs 10 each through the book-building route. The IPO lot size for Alpex Solar is 1,200 equity shares, and retail investors must invest a minimum amount of Rs 1,38,000.
About the company
The Greater Noida-based company, Alpex Solar, manufactures PV modules utilizing monocrystalline and polycrystalline cell technologies. The company’s product portfolio includes bifacial, mono-perc, and Halfcut solar PV modules. Additionally, Alpex Solar provides comprehensive solar energy solutions, encompassing engineering, procurement, and construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.
On the final day of subscription, investors booked the IPO 320.95 times against 64.80 lakh equity shares. The QIB portion experienced a subscription of 141.48 times, while the retail portion was booked 345.88 times, and the NII portion was subscribed 501.93 times.
The company has set the price band for the issue between Rs 109-115 per share.
It is a fresh issue of 64.80 lakh equity shares. The face value is Rs 10 each through the book-building route. The IPO lot size for Alpex Solar is 1,200 equity shares. Retail investors must make a minimum investment of Rs 1,38,000.
“Alpex Solar intends to utilise Rs 19.55 crore of the net proceeds from the IPO to upgrade and expand its existing solar module manufacturing facility, increasing its capacity from 450 MW to 1.2 GW in the existing manufacturing unit,” the official press release said.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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