February 15, 2024
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Alpex Solar IPO Watch, Guidance & Subscription Status at Chanakyanipothi.com,
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Alpex Solar IPO Post Listing Review :
On 15th February, the scrip is listed at Rs. 329, compared to the Issue-price of Rs.115, at a premium of 186%. The listing has been much above the expectations of grey market players.
Alpex Solar IPO Subscription
On 12 February 2024 5.00 pm (Day 3)(Closed)
Review: Strong response from RIIs on Day 3
QIB: 3078000 Shares 141.48 T
NII: 923400 Shares 502.31 T
RII: 2154600 Shares 351.89 T
Total: 6156000 Shares 324.03 T
What is the business of Alpex Solar?
Alpex is a solar photovoltaic (PV) module manufacturer in North India. Its PV modules are manufactured using both monocrystalline and polycrystalline cell technologies. Its portfolio of solar energy products consists of bifacial, mono perc, Halfcut solar PV modules. It also provides integrated solar energy solutions, including engineering, procurement, construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.
It manufactures and delivers solar panels in the B2B space and also serve as a contract manufacturer for several large companies, including Luminous, Jakson, and Tata Power. Its solar panels are delivered to companies, with a specific focus on EPC companies such as Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power, Hild Energy Private Limited, and Shakti Pumps India Limited.
These companies install its solar panels at their clients’ locations after securing orders. As for solar water pumps, it targets the B2C segment. It begins by applying for tenders in respective states, and if it succeeds in winning the tender, it proceeds to assess the installation site and subsequently install solar water pumps at the designated locations.
It currently operates from one manufacturing facility in Greater Noida, situated at Plot Number I-25, 26, 27, Surajpur Industrial Area, Site – V, Kasna, Greater Noida, and it has additional offices located in various cities, including New Delhi, Haryana, Chhatisgarh, Mumbai, Ludhiana, Nalagarh (Himachal Pradesh), Jaipur, and Tirupur (Tamil Nadu). Its manufacturing unit is equipped with world-class PV manufacturing lines from worldwide suppliers. The fully automatic robotic plants currently have a manufacturing capacity of 450MW, with plans to increase it to 1GW. It has a workforce of 196 people and more than 15 years of industry experience.
Get more information about the company @ http://www.alpexsolar.com/
| Alpex Solar IPO Details | |
| IPO opens on | 8 February 2024 |
| IPO closes on | 12 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 6480000 Sh /Rs 74.52 Cr |
| * Fresh Issue | 6480000 Sh /Rs 74.52 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Market Maker Portion | 324000 Sh. |
| Net offer to Public | 6156000 Sh./Rs.70.79 Cr |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 109-115 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | NSE SME |
| Shares offered in Alpex Solar IPO | ||
| Shares | Rs. (Cr) | |
| QIB (50%) | 3078000 | 35.49 |
| NII (15%) | 923400 | 10.62 |
| RII (35%) | 2154600 | 24.78 |
| Total Shares | 6156000 | 70.79 |
| Retail portion will be oversubscribed by | 1796 | |
| Forms | ||
| How much Shares to Apply in Italian Edibles IPO? | ||
| Min Retail Application | 1200 Sh | Rs. 138000 |
| Min HNI Application | 2400 Sh | Rs.276000 |
Who are the Promoters of Alpex Solar IPO?
Mr. Ajay Makhija and Mr. Akshay Makhija are the promoters of the company.
What are the Objects of Alpex Solar IPO?
The Offer comprises only of a Fresh Issue of Equity shares.
Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
1. Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks, financial institutions and non-banking financial companies;
2. Acquisition of land;
3. Funding of capital expenditure requirements of the Company towards set up of Solar Power Plant; and
4. General corporate purposes.
| Alpex Solar IPO Tentative timetable | |
| IPO opens on | 8 February 2024 |
| IPO Closes on | 12 February 2024 |
| IPO Allotment on | 13 February2024 |
| Refund Initiation | 14 February 2024 |
| Credit of Shares | 14 February 2024 |
| Listing on | 15 February 2024 |
| Registered Office of the Company Alpex Solar Limited B-79 Shivalik Enclave Near Malviya Nagar New Delhi -110017 |
| Who is the Lead Manager of Alpex Solar IPO? Corporate Capitalventures Pvt Ltd |
| Who is the Registrar to IPO? Skyline Financial Services Private Ltd |
| Alpex Solar IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 149.73 | 3.15 | 1.76 | 8.39 |
| 2021-22 | 168.54 | 0.19 | 0.11 | 0.52 |
| 2022-23 | 195.92 | 3.79 | 2.10 | 9.55 |
| Book Value of the Share on | 31.03.2023 | Rs 69.13 | ||
| BV of the Share at cap price | after the IPO | Rs. ? | ||
| Offer Price/upper band | Rs. 115 | |||
| Alpex Solar IPO Key Performance indicators | |
| Price/last EPS of 22-23 | 54.76 |
| Price/BV Ratio | 1.66 |
| Upper price/BV after IPO | |
How Alpex Solar IPO compares with the Peers?
| As per DRHP | FV | Total Income | PE Ratio |
| In Rs. Cr | |||
| Alpex Solar | 10 | 195.92 54.76 | |
| Insolation Energy | 10 | 280.06 | 20.95 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Alpex Solar IPO To the point Guidance
Alpex is a solar photovoltaic (PV) module manufacturer in North India. Its PV modules are manufactured using both monocrystalline and polycrystalline cell technologies. Its portfolio of solar energy products consists of bifacial, mono perc, Halfcut solar PV modules. It also provides integrated solar energy solutions, including engineering, procurement, construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.
Size: Being a SME IPO, the size of the IPO (Rs 74.52 Cr) is very large, as per the recent trend. With 1796 Applications, the retail portion will get one time subscribed. Considering, the hunger of the investors, there should not be any problem in getting full subscription.
Financial Snapshot: The company has shown sharp rise in the top line and bottom line of F23. This raises eyebrows. The market for solar photovoltaic (PV) module manufacturer is expanding at phenomenon rate and yet the business of the company has tough competition of large corporations and other manufacturers. From offer-price valuation angle, the shares are offered at high valuation and yet looking to the IPO-hungry market and the term “solar”, huge oversubscription and positive listing is possible. So you may decide accordingly and apply this IPO.
Quicklinks
Alpex Solar IPO GMP Detail IPO GMP today details?
Alpex Solar IPO
Alpex Solar IPO FAQs
What is Alpex Solar IPO?
Alpex Solar IPO is a SME IPO of 6480000 equity shares of the face value of Rs. 10 aggregating up to Rs.74.52 Crores. The issue is priced at Rs.109-115 per share. The minimum order quantity is 1200 Shares.
When Alpex Solar IPO will open?
Alpex Solar IPO opens on February 8, 2024, and closes on February 12, 2024.
What is the lot size of Alpex Solar IPO?
Alpex Solar IPO lot size is 1200 Shares, and the minimum amount required is Rs.138000
How to apply for Alpex Solar IPO?
You can apply in Alpex Solar IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Alpex Solar IPO allotment?
The finalization of Basis of Allotment for Alpex Solar IPO will be done on February 13, 2024, and the allotted shares will be credited to your demat account by February 14, 2024.
When is Alpex Solar IPO listing date?
Alpex Solar IPO listing date is not yet announced. The tentative date of Alpex Solar IPO listing is February 15, 2024.
