Alpex Solar IPO opens for subscription: Check price band, offer size and other key details

The primary market is buzzing in February with around seven companies launching their maiden public issues. The latest buzz is around the Alpex Solar IPO, which opens for subscription today, February 8.

Corporate Capital Ventures is the book running lead manager for the Alpex Solar IPO. Skyline Financial Services Pvt Ltd is the registrar.

Could this be a ticket to ride the solar wave for potential investors amid the recent interest in renewable energy stocks?

Let's dive into what this IPO is all about, breaking down the key details that can help you to make a well calculated move to jump on board or not.

Size and Offer Details

First things first, let's talk numbers. Alpex Solar, a prominent player in the solar panels manufacturing industry, is gearing up for its maiden public issue. The company is aiming to raise nearly ₹75 crore through the issue of 64.8 lakh equity shares.

The company has set a price band of ₹109-115 per share for the IPO.

Utilisation of funds

Alpex Solar has some big plans. The funds raised from the IPO will primarily fuel the expansion of its existing solar module manufacturing facility leading to a 750 MW increase in capacity. The company is also setting up a new manufacturing unit for aluminum frames for solar modules.

Subscription period and lot size

The Alpex Solar IPO opens for subscription on February 8 and closes on February 12.

The lot size stands at 1,200 equity shares, and the minimum investment amount for retail investors is pegged at ₹1,38,000.

Reserved Portions

Alpex Solar has set aside portions for various investor categories. Around 18.45 lakh equity shares are reserved for the anchor portion, while 3.24 lakh shares are earmarked for Market Makers. Non-Institutional Investors (NIIs) get a slice of 9.24 lakh shares, while Qualified Institutional Buyers (QIBs) get 12.31 lakh shares. For the retail investors 21.55 lakh equity shares are up for grabs.

Share allotment and listing

The IPO share allotment is expected to be finalized on February 13, and the shares are slated to hit the market on February 15 at NSE Emerge.

In Conclusion

So, there you have it – a comprehensive rundown on the much-anticipated Alpex Solar IPO. With its ambitious plans for expansion and a promising future in the renewable energy sector, the IPO has already caught the attention of many investors. But, as with any investment decision, it is important to weigh the risks and make an informed choice.