The Alpex Solar IPO, valued at Rs 74.52 crores, involves a fresh issue of 64.8 lakh shares. It opened on February 8, 2024, and closed on February 12, 2024, with a price band of Rs 109 to Rs 115 per share. The Grey Market Premium (GMP) was approximately Rs 111 on the upper band, indicating a 96.52% listing premium. It is expected to list on the National Stock Exchange’s Small and Medium Enterprises platform on February 15, 2024, reflecting the company’s strong financial performance and the growing solar energy market.
GMP Pricing for Alpex Solar IPO
- The Grey Market Premium (GMP) for the Alpex Solar IPO is reported to be around Rs 111 on the upper band, indicating a listing premium of 96.52% over the IPO issue price.
- Another source mentions the unlisted shares of Alpex Solar Ltd trading at a premium of Rs 190 in the grey market, which is 165.22% higher than the expected listing price.
| IPO Value | Rs 74.52 crores |
| Fresh Issue Size | 64.8 lakh shares |
| IPO Opening Date | February 8, 2024 |
| IPO Closing Date | February 12, 2024 |
| Price Band | Rs 109 to Rs 115 per share |
| Grey Market Premium (GMP) | Approximately Rs 111 on the upper band |
| Listing Premium | 96.52% |
| Total Shares Issued | 64,80,000 shares (64.80 lakh shares) |
| Funds Raised | ₹74.52 crore |
Allotment and Listing Date of Alpex Solar IPO
| Event | Date |
| IPO Allotment Date | On or before February 13, 2024 |
| Expected Listing Date | February 15, 2024 |
| Shares Credited to Demat Account | By February 14, 2024 |
How to Apply for the Alpex Solar IPO
- Open a demat and trading account if you don’t already have one.
- Check IPO details like price band and lot size.
- Place bid by entering the number of shares you wish to invest in.
- Confirm details and submit IPO application using UPI or ASBA.
- The lot size is 1200 shares. Minimum investment is Rs 1,38,000 for retail investors.
- IPO was open between February 8-12, 2024.
- Basis of allotment will be finalized on February 13.
- Listing is expected on February 15.
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Alpex Solar IPO Key Strengths
- Strong Market Position: Renowned in the solar energy sector, Alpex Solar holds a robust market position.
- Fresh Issue: The IPO comprises only a fresh issue of 64.8 lakh shares, showcasing the company’s dedication to expansion and seizing new market opportunities.
- Positive Market Sentiment: With a reported Grey Market Premium (GMP) of around Rs 190, there’s notable demand and positive sentiment for the IPO.
- Listing Date: Expected to list on the National Stock Exchange’s Small and Medium Enterprises platform on February 15, 2024. These strengths, coupled with Alpex Solar’s focus on renewable energy and strong financial performance, contribute to the favorable market perception of the IPO.
Subscription Status for Alpex Solar IPO
| Investor Category | Subscription Status |
|---|---|
| Qualified Institutional Buyers (QIB) | 0.02 times |
| Non-Institutional Investors (NII) | 8.31 times |
| Retail Individual Investors (RII) | 19.70 times |
| Overall | 11.64 times |
The subscription status for the Alpex Solar IPO indicates strong demand from retail individual investors. The IPO opened for public subscription on February 8, 2024, and closed on February 12, 2024. Allotment of IPO shares is expected on February 13, 2024, with the listing date anticipated to be February 15, 2024.
Alpex Solar Revenue Growth in Last 3 Years
- Sep 2023 (6 months): Rs 20,713.36 lakhs
- Mar 2023: Rs 18,393.22 lakhs
- Mar 2022: Rs 15,606.91 lakhs
- Mar 2021: Rs 13,949.16 lakhs
How to Check Alpex Solar IPO Allotment Status
- Visit registrar’s website or listing stock exchange site.
- Find “IPO Allotment Status” section.
- Select Alpex Solar IPO and enter PAN or application number.
- Click submit to see allotment status.
- Also check allotment on bank portal where application was made.
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Positive Aspects and Risks of Alpex Solar IPO
Positive Aspects of Alpex Solar IPO:
- Strong Market Position: Alpex Solar is a renowned solar energy company with a strong market position in the renewable energy sector.
- Fresh Issue: The IPO consists solely of a fresh issue of 64.8 lakh shares, reflecting the company’s commitment to expanding its operations and capitalizing on new opportunities in the market.
- Favorable Government Support: The renewable energy sector has received favorable government support and improved economics, making it an attractive industry for investment.
Risks of Alpex Solar IPO:
- Uncertainty in Securing Bids: The company faces uncertainty regarding its ability to secure bids for solar water pump EPC projects, which could hinder its growth.
- Impact of Weather Conditions: Unfavorable solar weather conditions could negatively impact the company’s sales and financials as demand for solar panels may decrease.
- Delays and Cost Overruns: Alpex Solar faces potential delays and cost overruns in setting up its proposed projects.
These insights provide a balanced view of the opportunities and challenges related to the Alpex Solar IPO, allowing potential investors to make informed decisions.
Conclusion
The Alpex Solar IPO provides good opportunity to invest in a strong renewable energy company. However, investors should also evaluate the potential risks before making investment decisions. The high grey market premium signals positive market sentiment.