Bookbuilding IPO | ₹75 Cr | Listed at NSE SME | Thu, Feb 8, 2024 - Mon, Feb 12, 2024
Alpex Solar IPO is a book build issue of ₹74.52 crores. The issue is entirely a fresh issue of 0.65 crore shares of ₹74.52 crore.
Alpex Solar IPO bidding started from Feb 8, 2024 and ended on Feb 12, 2024. The allotment for Alpex Solar IPO was finalized on Feb 13, 2024. The shares got listed on NSE SME on Feb 15, 2024.
Alpex Solar IPO price band is set at ₹115 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,38,000 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,76,000.
Corporate Capitalventures Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is SS Corporate Securities Ltd..
Refer to Alpex Solar IPO RHP for detailed Information.
IPO Open
Thu, Feb 8, 2024
IPO Close
Mon, Feb 12, 2024
Issue Price
₹115 per share
Market Cap (Pre-IPO)
₹281.44 Cr
| IPO Date | 8 to 12 Feb, 2024 |
| Listed on | Thu, Feb 15, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹109 to ₹115 |
| Issue Price | ₹115 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 64,80,000 shares (agg. up to ₹75 Cr) |
| Reserved for Market Maker | 3,24,000 shares SS Corporate Securities Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 61,56,000 shares (agg. up to ₹71 Cr) |
| Net Offered to Public | 61,56,000 shares (agg. up to ₹71 Cr) |
| Share Holding Pre Issue | 1,79,93,400 shares |
| Share Holding Post Issue | 2,44,73,400 shares |
| NSE Symbol | ALPEXSOLAR |
| ISIN | INE0R4701017 |
Alpex Solar IPO comprises a total issue size of 64,80,000 shares. The net offer to the public is 61,56,000 shares, after excluding 3,24,000 shares allotted on a firm basis. Of the Net offer 30,76,800 (49.98%) are allocated to QIB, 9,24,000 (15.01%) allocated to NII 21,55,200 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 30,76,800 | 49.98% | 47.48% |
| − Anchor Investor Shares Offered | 18,45,600 | 28.48% | |
| − QIB (Ex. Anchor) Shares Offered | 12,31,200 | 19.00% | |
| NII (HNI) Shares Offered | 9,24,000 | 15.01% | 14.26% |
| Retail Shares Offered | 21,55,200 | 35.01% | 33.26% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,24,000 | 5.00% | |
| Total Shares Offered | 64,80,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,38,000 |
| Retail (Max) | 1 | 1,200 | ₹1,38,000 |
| HNI (Min) | 2 | 2,400 | ₹2,76,000 |
Alpex Solar IPO raises ₹21.22 crore from anchor investors. Alpex Solar IPO Anchor bid date is February 7, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Feb 7, 2024 |
| Shares Offered | 18,45,600 |
| Anchor Portion (₹ Cr.) | 21.22 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Mar 14, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, May 13, 2024 |
Incorporated in August 1993, Alpex Solar Limited is a manufacturer of Solar panels. The company uses monocrystalline and polycrystalline cell technologies.
The company offers a range of solar panel modules including bifacial, mono PERC, and Half-Cut module. The company offers solar energy solutions, including AC/DC solar pumps EPC for surface and submersible categories.
The company's clients include Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power, Hild Energy Private Limited, and Shakti Pumps India Limited.
The Company has received several quality certifications, including ISO 14001:2015, ISO 45001: 2018, and ISO 9001: 2015, all certified by KVQA Assessment Pvt Ltd.
The manufacturing facility is situated in Greater Noida while other offices are located in Delhi, Mumbai, Himachal Pradesh, Chittorgarh, Jaipur, Tirupur, and Ludhiana.
As of November 2023, the company has a total of 196 employees working across various departments.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 141.88 | 125.60 | 100.04 | 99.35 |
| Total Income | 213.11 | 195.92 | 168.54 | 149.73 |
| Profit After Tax | 7.61 | 3.79 | 0.19 | 3.15 |
| NET Worth | 49.07 | 41.46 | 37.68 | 37.48 |
| Reserves and Surplus | 43.07 | 35.47 | 31.68 | 31.49 |
| Total Borrowing | 41.75 | 47.36 | 26.70 | 29.93 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure for upgradation and expansion of our existing solar module manufacturing facility by increasing 750 MW | 19.56 |
| 2 | Funding Capital Expenditure towards setting up of a new manufacturing unit for Aluminum frame for our solar module | 12.95 |
| 3 | To Meet Working Capital requirements of the Company | 20.50 |
| 4 | General Corporate Expenses | 21.52 |
| KPI | |
|---|---|
| ROE | 9.55% |
| ROCE | 18.81% |
| Debt/Equity | 1.14 |
| RoNW | 9.55% |
| PAT Margin | 1.94% |
| Price to Book Value | 1.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.10 | 6.22 |
| P/E (x) | 54.66 | 18.5 |
| Promoter Holding | 93.53% | 68.76% |
| Market Cap | ₹281.44 Cr. |
The Alpex Solar IPO is subscribed 324.03 times on February 12, 2024 7:30:00 PM (Day 3). The public issue subscribed 351.89 times in the retail category, 141.48 times in the QIB category, and 502.31 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 141.48 | 12,31,200 | 17,41,93,200 |
| NII* | 502.31 | 9,24,000 | 46,41,32,400 |
| Retail | 351.89 | 21,55,200 | 75,83,91,600 |
| Total | 324.03 | 43,10,400 | 1,39,67,17,200 |
Total Application : 6,31,993
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management Fees | 0.50 |
| 2 | Selling and Distribution Fees | 3.35 |
| 3 | Underwriting Commission | 3.35 |
| 4 | Advertising and marketing expenses | 0.20 |
| 5 | Fees payable to Registrar to the Issue | 0.05 |
| 6 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable | 0.01 |
| 7 | Processing fees to the SCSBs and to the Sponsor Banks for ASBA Forms procured by Registered Brokers, RTAs or CDPs | |
| 8 | Printing and distribution of issue stationery | 0.05 |
| 9 | Listing fees | 0.01 |
| 10 | NSE Processing | 0.00 |
| 11 | Book Building software fees | 0.04 |
| 12 | Other regulatory expenses | 0.02 |
| 13 | Fees payable to legal counsel | 0.01 |
| 14 | Miscellaneous |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹115.00 |
| Open | ₹329.00 |
| Low | ₹329.00 |
| High | ₹345.45 |
| Last Trade | ₹345.45 |
Lead Manager Reports
Alpex Solar IPO is a SME IPO of 64,80,000 equity shares of the face value of ₹10 aggregating up to ₹75 Crores. The issue is priced at ₹115 per share. The minimum order quantity is 1200.
The IPO opens on Thu, Feb 8, 2024, and closes on Mon, Feb 12, 2024.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Alpex Solar IPO using UPI as a payment gateway. Zerodha customers can apply in Alpex Solar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Alpex Solar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Alpex Solar IPO opens on Thu, Feb 8, 2024 and closes on Mon, Feb 12, 2024.
Alpex Solar IPO lot size is 1200, and the minimum amount required for application is ₹1,38,000.
You can apply in Alpex Solar IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Alpex Solar IPO will be done on Tuesday, February 13, 2024, and the allotted shares will be credited to your demat account by Wed, Feb 14, 2024. Check the Alpex Solar IPO allotment status.
The Alpex Solar IPO listing date is on Thu, Feb 15, 2024.
