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

The initial public offering (IPO) of Alpex Solar will open for subscription on 8th February and close on 12th February.

The book-running lead manager for the issue is Corporate Capital Ventures with Skyline Financial Services Pvt Ltd serving as registrar.

Amid recent interest in renewable energy stocks, could this be an opportunity for potential investors to ride the solar wave?

Let's delve into the details of this IPO, breaking down the key information to help you make an informed decision about jumping on board.

Offer and IPO size

Alpex Solar, a major player in solar panel manufacturing, is preparing for its IPO. The company aims to raise nearly ₹75 crore through the issuance of 64.8 lakh equity shares. The price band has been set at ₹109-115 per share.

Utilisation of funds

The company aims to use the funds raised from the IPO to expand its current solar module manufacturing facility, allowing for an increase in capacity by 750 MW. Additionally, a new manufacturing unit for aluminum frames for solar modules is being established.

IPO date and lot size

The Alpex Solar IPO will be open for subscription from February 8 to February 12. The lot size for equity shares is 1,200, and the minimum investment amount for retail investors is ₹1,38,000.

Reserved portions

Approximately 18.45 lakh equity shares are reserved for the anchor portion of the stock offering, and 3.24 lakh shares are earmarked for Market Makers. Non-Institutional Investors (NIIs) have access to 9.24 lakh shares, while Qualified Institutional Buyers (QIBs) can bid for 12.31 lakh shares. Additionally, retail investors have the opportunity to bid for 21.55 lakh equity shares.

Share allotment and listing

The shares are set to hit the market on February 15 at NSE Emerge following the IPO share allotment finalisation on February 13.