Alpex Solar IPO: Top Things to Know Before Subscribing to the Issue

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 are required to 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.

Price Band

The company has set the price band for the issue between Rs 109-115 per share.

Issue Size

It is 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. Retail investors are required to invest a minimum amount of Rs 1,38,000.

Also read: Rashi Peripherals IPO: Check Price Band, Issue Size & More

IPO Reserve Portion

• Non-institutional investors: 9.24 lakh equity shares
• Qualified Institutional Buyers (QIBs): 12.31 lakh shares
• Retail portion: 21.55 lakh equity shares

Company Financials

Objectives of the issue

“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.