Active Stocks
Tue Mar 05 2024 14:11:33
  1. ICICI Bank share price
  2. 1,093.30 0.14%
  1. Tata Motors share price
  2. 1,020.35 3.36%
  1. Tata Steel share price
  2. 152.05 -0.69%
  1. Titan Company share price
  2. 3,735.50 0.10%
  1. State Bank Of India share price
  2. 783.00 1.41%
Business News/ Markets / Ipo/  Alpex Solar IPO: Check GMP, subscription status on day 3; other key details
BackBack

Alpex Solar IPO: Check GMP, subscription status on day 3; other key details

Alpex Solar IPO size is ₹74.52 crore which comprises a fresh issue of 64.80 lakh equity shares of face value of ₹10 each through the book-building route.

Alpex Solar IPO is an SME IPO which will conclude on Monday, February 12. (Photo: Company Website)Premium
Alpex Solar IPO is an SME IPO which will conclude on Monday, February 12. (Photo: Company Website)

Alpex Solar IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) Alpex Solar Limited received positive response from investors on Thursday, February 8, as the public issue was subscribed 30.85 times on the first day of bidding. Alpex Solar IPO opened for subscription on February 8, 2024 and closes on February 12, 2024.

Around 3.24 lakh equity shares are reserved for Market Maker, 9.24 lakh equity shares are allocated for the non-institutional investors (NIIs), 12.31 lakh shares for qualified institutional buyers (QIBs) and retail (RII) portion accounts for 21.55 lakh equity shares. Alpex Solar IPO reserved 18.45 lakh equity shares for the anchor portion.

Alpex Solar is a Greater Noida-based company that manufactures PV modules using monocrystalline and polycrystalline cell technologies. Its product portfolio comprises bifacial, mono-perc, and Halfcut solar PV modules. It also offers comprehensive solar energy solutions, including engineering, procurement, and construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.

Also Read: Alpex Solar IPO to open on February 8; price band fixed at 109–115 per share

Alpex Solar IPO Subscription Status:

Alpex Solar IPO was subscribed over 303 times on the last day of bidding. Alpex Solar IPO received stellar response from all three groups of investors-- retail investors, NIIs, and QIBs, on the last day of bidding.

While the QIB portion was subscribed 133 times, the HNI/NII portion was subscribed 471 times and the Retail individual investors (RII) quota was subscribed 329 times on the last day.

The retail portion received 28,35,20,400 applications, NII received 6,73,64,400 shares and QIB received 11,06,400 applications on the second day of bidding. 

On the first day, the retail category was subscribed over 50.44 times, received 10,86,98,400 applications against offered 21,55,200 shares for this segment. Meanwhile, NII and QIB portions were subscribed 26.13 times and 0.09 times.

Alpex Solar IPO Details:

The IPO will comprise a fresh issue of 64,80,000 equity shares with a face value of Rs. 10 through the book-building route. As many as 18.45 lakh equity shares have been reserved for anchor portion, 3.24 lakh equity shares for Market Maker, 9.24 lakh equity shares allocated for NIIs, 12.31 lakh shares for QIBs, and retail portion accounts for 21.55 lakh equity shares. Investors can bid for a minimum of 1200 shares and in multiples thereof.

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. 

Rs. 12.94 crore will be used to set up a new manufacturing unit for its solar module's aluminium frame for its solar module and Rs. 20.49 crore to meet its working capital requirements and the remaining capital to be used for general corporate expenses.

Corporate Capital Ventures Pvt Ltd is the book running lead manager of the Alpex Solar IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Alpex Solar IPO is SS Corporate Securities.

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 08 Feb 2024, 08:53 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie