Alpex Solar IPO share allotment on February 13: Here’s how check status online
Upstox
4 min read • Updated: February 13, 2024, 3:57 PM
Summary
The issue of 46.34 lakh equity shares was subscribed more than 301 times on the final day. The Alpex Solar IPO received bids for 139.70 crore shares against the shares on offer, according to the NSE subscription data.
Solar photovoltaic module manufacturer Alpex Solar is likely to announce the share allotment on Tuesday (February 13) after receiving a stellar response to its initial public offering (IPO). The maiden public offer of the Greater Noida-based company closed on Monday with an overall subscription volume of more than 301 times.
The ₹74-crore IPO opened for subscription on February 8 (Thursday). The company is expected to start refunds to unsuccessful bidders as well as transferring shares to demat accounts on February 14. The company will list shares on NSE SME platform, NSE Emerge on February 15.
How to check Alpex Solar IPO share allotment status
Investors who have applied for the Alpex Solar issue will be notified by the registrar and the company about the share allotment. However, investors can also check about the share allotment through the websites of the NSE and the company registrar. Skyline Financial Services Private Ltd is the official registrar of Alpex Solar IPO.
How to check share allotment through NSE website
The National Stock Exchange also provides information about the share allotment to investors. However, investors need to get registered with the NSE website. On registration, the investor receives an email notification from NSE providing the login details.
Bidders can easily check the share allotment by following a few easy steps.
- Go to NSE website (https://www.nseindia.com)
- Login with username and password
- Select Alpex Solar IPO from the drop down list
- Enter PAN details to verify
- Enter IPO application No
- Click on Submit
Steps to check share allotment status via Registrar’s website
Investors can also check the allotment status through the official website of registrar Skyline Financial Services Pvt Ltd. Follow these steps to check allotment status:
- Go to official website of Skyline Financial Services Pvt Ltd (https://www.skylinerta.com/)
- Click on Investors Sections and go to Public Offers
- Select the Alpex Solar from the dropdown list
- Enter your application number, PAN or Demat account number
- Submit to check share allotment status.
Alpex Solar IPO Subscription
The IPO of PV solar module maker Alpex Solar received a strong response from investors. The issue of 46.34 lakh equity shares was subscribed more than 301 times on the final day. The public offer received bids for 139.70 crore shares against the shares on offer, according to the NSE subscription data.
Qualified institutional buyers placed bids for a total of 17.41 crore shares against the equity shares reserved for them. Non-institutional buyers placed bids for a total of 46.44 crore shares against the maximum allowed quantity of shares for them, translating into subscription of 503 times.
Retail investors placed bids for 75,83,91,600 equity shares, reflecting subscription of 352 times.
The solar PV module producer launched the IPO on February 8 to raise Rs around 74.52 crore. The IPO comprised a fresh issue of 64.80 lakh equity shares. Of these, 18,45,600 equity shares were reserved for anchor investors. The Alpex Solar IPO price band was fixed at Rs 109-115 per share for the offer.
The company has proposed to utilise ₹19.55 crore of the IPO proceeds to upgrade and increase the solar module production capacity of its existing facility. It has proposed to raise the production capacity from 450 MW to 1.2 GW in the existing unit.
It has also proposed to use ₹12.90 crore for setting up a new manufacturing facility for the solar module’s aluminium frame for solar module. It will use ₹20.49 crore for funding working capital requirements and the remaining for general corporate expenses.
The solar PV maker had reported total revenue of ₹194.68 crore in the financial year ended on March 31, 2023 against ₹165.6 crore in the FY 2021-22. Its net profit was ₹3.78 crore on a consolidated basis in the last financial year against 0.2 crore in the previous year.
Alpex Solar, which started its operation in 1993, has established itself as a leading solar PV module maker in North India. It has a diverse portfolio of solar energy products that use monocrystalline and polycrystalline cell technologies.
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