Alpex Solar Limited IPO Detail
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.
Company Promoters
Mr. Ashwani Sehgal, Mrs. Monica Sehgal and Mr. Vipin Sehgal.IPO Details
| IPO Opening Date | Feb 08, 2024 |
| IPO Closing Date | Feb 12, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹109 - 115 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹74.52 Cr |
| Fresh Issue | ₹74.52 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.09x | - | - | 25.76x | 49.22x | 30.16x |
| Day 2 | 0.09x | - | - | 25.76x | 49.22x | 30.16x |
| Day 3 | 141.48x | - | - | 502.31x | 351.89x | 324.03x |
IPO Tentative Timetable
The Alpex Solar Limited IPO open date is Feb 08, 2024, and the close date is Feb 12, 2024. The issue may list on Feb 15, 2024.
| IPO Open Date | Feb 08, 2024 |
| IPO Close Date | Feb 12, 2024 |
| Basis of Allotment Date | Feb 13, 2024 |
| Initiation of Refunds | Feb 14, 2024 |
| Credit of Shares to Demat Account | Feb 14, 2024 |
| IPO Listing Date | Feb 15, 2024 |
IPO Lot Size
The Alpex Solar Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹138000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹138000 |
| Maximum | 1 | 1200 | ₹138000 |
IPO Promoter Holding
| Pre Issue Share Holding | 93.53% |
| Post Issue Share Holding | 68.76% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 9935.35 | 14972.96 | 315.23 |
| 31-Mar-22 | 10003.75 | 16853.62 | 19.42 |
| 31-Mar-23 | 12559.64 | 19592.07 | 378.58 |
| 30-Sep-23 | 14188.46 | 21310.72 | 760.58 |
Objects of the Issue:
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects ("Objects of the Issue"):
- Funding Capital Expenditure for upgradation and expansion of the existing solar module manufacturing facility by increasing 750 MW;
- Funding Capital Expenditure towards setting up of a new manufacturing unit for Aluminum frame for the solar module;
- To Meet Working Capital requirements of the Company; and
- General Corporate Expenses.
Alpex Solar Limited IPO Registrar:
Skyline Financial Services Private Ltd
Alpex Solar Limited IPO Lead Manager(s):
Corporate Capitalventures Pvt Ltd
Company Contact Information:
Alpex Solar Limited
B-79 Shivalik Enclave
Near Malviya Nagar
New Delhi -110017
