Alpex Solar IPO 2024:
Alpex Solar IPO is a book-built issue worth Rs 74.52 crores, consisting entirely of fresh issue shares totaling 64.8 lakh shares.
- Issue Size: Rs 74.52 croresFresh Issue: 64.8 lakh shares
- IPO Bidding: February 8, 2024, to February 12, 2024
- Allotment Date: February 13, 2024
- Listing Date: February 15, 2024
- Price Band: ₹109 to ₹115 per share
- Minimum Lot Size: 1200 Shares
- Minimum Retail Investment: ₹138,000
- Minimum HNI Investment: 2 lots (2,400 shares), amounting to ₹276,000
The book running lead manager for the Alpex Solar IPO is Corporate Capitalventures Pvt Ltd, while Skyline Financial Services Private Ltd is the registrar for the issue. Ss Corporate Securities serves as the market maker for the IPO.
Alpex Solar IPO Details
| IPO Date | February 8, 2024 to February 12, 2024 |
| Listing Date | February 15, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹109 to ₹115 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,480,000 shares (aggregating up to ₹74.52 Cr) |
| Fresh Issue | 6,480,000 shares (aggregating up to ₹74.52 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,993,400 |
| Share holding post issue | 24,473,400 |
| Market Maker portion | 324,000 shares Ss Corporate Securities |
Alpex Solar IPO Reservation
Alpex Solar IPO offers 6,480,000 shares. 1,231,200 (19.00%) to QIB, 924,000 (14.26%) to NII, 2,155,200 (33.26%) to RII and 1,845,600 (28.48%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,845,600 (28.48%) |
| Market Maker Shares Offered | 324,000 (5.00%) |
| QIB Shares Offered | 1,231,200 (19.00%) |
| NII (HNI) Shares Offered | 924,000 (14.26%) |
| Retail Shares Offered | 2,155,200 (33.26%) |
| Total Shares Offered | 6,480,000 (100%) |
Alpex Solar IPO Anchor Investors Details
Alpex Solar IPO raises Rs 21.22 crores from anchor investors. Alpex Solar IPO Anchor bid date is February 7, 2024.
| Bid Date | February 7, 2024 |
| Shares Offered | 1,845,600 |
| 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 Timeline (Tentative Schedule)
Alpex Solar IPO opens on February 8, 2024, and closes on February 12, 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 |
Alpex Solar IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹138,000 |
| Retail (Max) | 1 | 1200 | ₹138,000 |
| HNI (Min) | 2 | 2,400 | ₹276,000 |
Alpex Solar IPO Promoter Holding
The promoters of the company are Mr. Ashwani Sehgal, Mrs. Monica Sehgal and Mr. Vipin Sehgal.
| Share Holding Pre Issue | 93.53% |
| Share Holding Post Issue | 68.76% |
About Alpex Solar Limited
Alpex Solar Limited is a manufacturer of Solar panels and was Incorporated in August 1993. The company uses monocrystalline and polycrystalline cell technologies.
The company provides 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 many 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 multiple departments.
Alpex Solar Limited Financial Information (Restated Consolidated)
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 |
| 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 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Alpex Solar IPO is Rs 281.44 Cr.
| KPI | Values |
|---|---|
| ROE | 9.55% |
| ROCE | 18.81% |
| Debt/Equity | 1.14 |
| RoNW | 9.55% |
| P/BV | 1.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.1 | 6.22 |
| P/E (x) | 54.66 | 18.5 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Alpex Solar IPO Objectives)
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 IPO Subscription Status (Bidding Detail)
The Alpex Solar IPO is subscribed 324.03 times on February 12, 2024 7:30:00 PM. The public issue subscribed 351.89 times in the retail category, 141.48 times in the QIB category, and 502.31 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 141.48 |
| NII | 502.31 |
| Retail | 351.89 |
| Total | 324.03 |
Total Application : 631,993 (351.89 times)