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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 ₹115.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,30,800 (1200 shares). The minimum lot size investment for 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 Date | February 8, 2024 to February 12, 2024 |
| Listing Date | February 15, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹109 to ₹115 per share |
| Issue Price Final | ₹115 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 64,80,000 shares (aggregating up to ₹74.52 Cr) |
| Reserved for Market Maker | 3,24,000 shares SS Corporate Securities Ltd. (aggregating up to ₹3.73 Cr) |
| Net Offered to Public | 61,56,000 shares (aggregating up to ₹70.79 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,79,93,400 shares |
| Share Holding Post Issue | 2,44,73,400 shares |
Alpex Solar IPO offers total 64,80,000 shares. Out of which 30,76,800 (47.48%) allocated to QIB, 12,31,200 (19.00%) allocated to QIB, 9,24,000 (14.26%) allocated to NII, 21,55,200 (33.26%) allocated to RII and 18,45,600 (28.48%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,24,000 (5.00%) |
| QIB Shares Offered | 30,76,800 (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 (14.26%) |
| Retail Shares Offered | 21,55,200 (33.26%) |
| Total Shares Offered | 64,80,000 (100.00%) |
Alpex Solar IPO raises ₹21.22 crore from anchor investors. Alpex Solar IPO Anchor bid date is February 7, 2024. Alpex Solar IPO Anchor Investors list
| Bid Date | February 7, 2024 |
| Shares Offered | 18,45,600 |
| Anchor Portion Size (In Cr.) | 21.22 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 14, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 13, 2024 |
Alpex Solar IPO opens on February 8, 2024, and closes on February 12, 2024.
| IPO Open Date | Thu, Feb 8, 2024 |
| IPO Close Date | Mon, Feb 12, 2024 |
| Tentative Allotment | Tue, Feb 13, 2024 |
| Initiation of Refunds | Wed, Feb 14, 2024 |
| Credit of Shares to Demat | Wed, Feb 14, 2024 |
| Tentative Listing Date | Thu, Feb 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Feb 12, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Alpex Solar Limited's revenue increased by 16.25% and profit after tax (PAT) rose by 1849.43% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 14,188.46 | 12,559.64 | 10,003.75 | 9,935.35 |
| Total Income | 21,310.72 | 19,592.07 | 16,853.62 | 14,972.96 |
| Profit After Tax | 760.58 | 378.58 | 19.42 | 315.23 |
| Net Worth | 4,906.86 | 4,146.29 | 3,767.70 | 3,748.28 |
| Reserves and Surplus | 4,307.08 | 3,546.51 | 3,167.92 | 3,148.50 |
| Total Borrowing | 4,175.15 | 4,735.73 | 2,669.98 | 2,992.68 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Alpex Solar IPO is ₹281.44 Cr.
| KPI | Values |
|---|---|
| ROE | 9.55% |
| ROCE | 18.81% |
| Debt/Equity | 1.14 |
| RoNW | 9.55% |
| Price to Book Value | 1.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.10 | 6.22 |
| P/E (x) | 54.66 | 18.5 |
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects ("Objects of the Issue"):
[Dilip Davda] The company is in solar PV module manufacturing and marketing. It posted steady growth in its top lines for reported periods, but marked erratic bottom line. The sudden boost in top and bottom lines for H1-FY24 raise eyebrows and sustainability of such margins amidst rising competition. However, based on FY24 super earnings, the issue appears lucratively priced. Investors’ fancy is seen for solar power segment counters. Investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | February 15, 2024 |
| BSE Script Code | |
| NSE Symbol | ALPEXSOLAR |
| ISIN | INE0R4701017 |
| Final Issue Price | ₹115 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹115.00 |
| Open | ₹329.00 |
| Low | ₹329.00 |
| High | ₹345.45 |
| Last Trade | ₹345.45 |
Alpex Solar Ltd.
B-79
Shivalik Enclave
Near Malviya Nagar
New Delhi, New Delhi, 110017
Phone: +91 - 9971751589
Email: csalpex@alpexonline.com
Website: http://www.alpexsolar.com/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Alpex Solar IPO is a SME IPO of 64,80,000 equity shares of the face value of ₹10 aggregating up to ₹74.52 Crores. The issue is priced at ₹115 per share. The minimum order quantity is 1200.
The IPO opens on February 8, 2024, and closes on February 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 February 8, 2024 and closes on February 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 Wednesday, February 14, 2024. Check the Alpex Solar IPO allotment status.
The Alpex Solar IPO listing date is on Thursday, February 15, 2024.
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