31-Jan-2024
2 mins read
Alpex Solar Limited IPO 2024 is open for subscription from Thursday, February 8, 2024 and will close on Monday, February 12, 2024. The price band is decided at Rs 109 to Rs 115 per share. The minimum lot size of this application for the retail category is 1200 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 2400 shares. The minimum amount of investment required for retail category investors is Rs 1,38,000 (115 x 1200 shares). However for HNI category the minimum investment amount is required Rs 2,76,000 (115 x 2400 shares). Alpex Solar Limited IPO 2024 is a book built issue of Rs 74.52 crores. The issue is entirely a fresh issue of 64.8 lakh equity shares. The allotment for this IPO is expected to be finalized on Tuesday, February 13, 2024. Alpex Solar Limited IPO will list on NSE SME and listing date fixed on Thursday, February 15, 2024. The book running lead manager of Alpex Solar Limited is Corporate Capital Ventures Limited. The registrar for this IPO is Skyline Financial Services Private Limited. The market maker for the Alpex Solar Limited IPO is not yet announced.
About Alpex Solar Limited Profile
Alpex Solar Limited incorporated in August 1993. It is engaged in the business of manufacturing Solar panels. The company uses monocrystalline and polycrystalline cell technologies. Their portfolio of the solar energy projects consists of bifacial, mono – perc and Halfcut Solar PV models. Company also provides integrated solar energy solutions, including engineering, procurement and constructions of AC/DC Solar Pumps in both surface and submersible categories. They manufacture and deliver solar panels in the B2B space and also work as a contract manufacturer for many large companies including Jackson, Luminous and Tata Power. Their Solar panels are delivered to the companies with a specific focus on EPC companies such as Solar Water Energy Solutions Private Limited, BVG India Limited, Hild Energy Private Limited and Shakti Pumps India Limited.
Objectives of Alpex Solar Limited IPO
The main objectives of this initial public offering is to raise funds for the expansion of the existing solar module manufacturing facility. Moreover, the net proceeds will also be utilized for funding of the capital expenditure toward setting up a new manufacturing unit for Aluminium frame for the solar module. Furthermore, funds will help to meet the working capital requirements of the company and to cover the general corporate expenses.
Financial Performance of Alpex Solar Limited
Company’s revenue increased by 16.25% and profit after tax increased by 1849.43% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 14,188.46 | 12,559.64 | 10,003.75 | 9,935.35 |
| Revenue | 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 |
Other Important Details of Alpex Solar Limited IPO
| IPO Date | February 8, 2024 to February 12, 2024 |
| Listing Date | 15-Feb-24 |
| Face Value | Rs10 per share |
| Price Band | Rs 109 to Rs 115 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,480,000 shares (amounting up to Rs 74.52 Crore) |
| Fresh Issue | 6,480,000 shares (amounting up to Rs 74.52 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 17,993,400 |
| Shareholding post issue | 24,473,400 |
| Market Maker portion | 324,000 shares |
| Ss Corporate Securities |
Lot Size of Alpex Solar Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1200 | Rs 138,000 |
| Retail (Max) | 1 | 1200 | Rs 138,000 |
| HNI (Min) | 2 | 2,400 | Rs 276,000 |
IPO Reservation of Alpex Solar Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Alpex Solar Limited IPO Anchor Investors Details
Alpex Solar raises Rs 21.22 crore from Anchor Investors. Their bidding date is February 7, 2024.
| Bid Date | 7-Feb-24 |
| Shares Offered | 1,845,600 |
| Anchor Portion Size (In Cr.) | 21.22 |
| Anchor lock-in period end date for 50% shares (30 Days) | 28-Mar-24 |
| Anchor lock-in period end date for remaining shares (90 Days) | 27-Jun-24 |
Promoters of Alpex Solar Limited and Their Holdings
The Promoters of the company are Mr. Ashwani Sehgal, Mrs. Monica Sehgal and Mr. Vipin Sehgal.
| Shareholding Pre Issue | 93.53% |
| Shareholding Post Issue | 68.76% |
Time-Table of Alpex Solar Limited IPO 2024
| IPO Open Date | Thursday, February 8, 2024 |
| IPO Close Date | Monday, February 12, 2024 |
| Basis of Allotment | Tuesday, February 13, 2024 |
| Initiation of Refunds | Wednesday, February 14, 2024 |
| Credit of Shares to Demat | Wednesday, February 14, 2024 |
| Listing Date | Thursday, February 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 12, 2024 |
Key Performance Indicator of Alpex Solar Limited IPO 2024
The market capitalization of Alpex Solar Limited is yet to be announced.
| KPI | Values |
| ROE | 9.55% |
| ROCE | 18.81% |
| Debt/Equity | 1.14 |
| RoNW | 9.55% |
Lead Manager(s) of Alpex Solar Limited IPO 2024
The lead manager for Alpex Solar Limited IPO is Corporate Capital Ventures Limited.
How to Apply for Alpex Solar Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Alpex Solar Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Alpex Solar Limited IPO 2024
The registrar for Alpex Solar Limited IPO is Skyline Financial Services Private Limited. To check your allotment status, please click on this link below https://www.skylinerta.com/ipo.php
FAQs
- What is Alpex Solar Limited IPO 2024?
Alpex Solar Limited IPO 2024 is a book built issue of Rs 74.52 crores. The issue is entirely a fresh issue of 64.8 lakh equity shares. The price band is decided at Rs 109 to Rs 115 per share. The minimum lot size of this application for the retail category is 1200 shares. The allotment for this IPO is expected to be finalized on Tuesday, February 13, 2024.
- Who are the lead managers for the Alpex Solar Limited IPO 2024?
Corporate Capital Ventures Limited are appointed as the lead managers for the IPO.
- What is the role of Skyline Financial Services Private Limited in this IPO?
Skyline Financial Services Private Limited is the registrar for the Alpex Solar Limited handling the IPO’s administrative aspects.
- How can I apply for the Alpex Solar Limited IPO 2024?
The public subscription of this IPO will open on February 8, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds will be utilized for funding of the capital expenditure toward setting up a new manufacturing unit for Aluminium frame for the solar module. Furthermore, funds will help to meet the working capital requirements of the company and to cover the general corporate expenses.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Alpex Solar Limited IPO 2024 by https://www.skylinerta.com/ipo.php
- What is the financial performance of Alpex Solar Limited?
Company’s revenue increased by 16.25% and profit after tax increased by 1849.43% between the financial year ending with March 31, 2023 and March 31, 2022.