IPO GMP: 7 February 2024
🚀 Exciting News Alert! 🚀
If you are looking to invest in IPO and take advantage of the stock market rally, we have good news for you. Alpex Solar Limited is all set to launch its IPO in the share market. The solar energy solutions provider Alpex Solar Limited will open its IPO for investment from 8th February to 12th February. Anchor investors can start investing in this IPO from 7th February 2019.
💰 IPO Details:
★The IPO size of Alpex Solar Limited is ₹75 crores.
★The company has fixed the share price band for its IPO at ₹109-115 per share.
★Alpex Solar Limited will offer 6,480,000 new equity shares in its IPO.
★The company has reserved 1,845,000 equity shares for anchor investors.
★For QIB, 324,000 equity shares have been kept aside.
★For NII, 924,000 equity shares have been reserved.
★QIBs have 1,231,000 shares reserved for them.
★Retail investors have been allocated 2,155,000 equity shares.
🏢 Alpex Solar Limited’s Partners:
★Corporate Capital Ventures has been appointed as the Book Running Lead Manager for the IPO.
★Skyline Financial Services Private Limited has been appointed as the Registrar to the IPO.
💡 Expert Opinion:
According to experts who have analyzed the grey market, Alpex Solar Limited’s shares are trading at a premium price of ₹190 in the grey market. This indicates that the shares could be listed at ₹305. Investors who are allotted this IPO may potentially earn a profit of 165.22% on the first day of listing.
💸 Utilization of IPO Funds:
With the funds raised through this IPO, Alpex Solar Limited aims to upgrade and expand its solar module production facility, increasing its capacity from 450 MW to 1.2 GW. Additionally, the company plans to set up a new production unit for manufacturing aluminum frames for solar modules, which will cost ₹12.94 crores. The remaining ₹20.49 crores will be used to fulfill the company’s working capital requirements.
🌞 About Alpex Solar Limited:
Alpex Solar Limited primarily operates in the solar panel production business. The company also works as a contract manufacturer for renowned names like Luminous Jackson and Tata Power. Alpex Solar Limited supplies its products to EPIC companies such as Hild Energy Private Limited and Shakti Pumps India Limited.
So, if you are excited about investing in Alpex Solar Limited’s IPO, mark your calendar for 8th February and grab this opportunity to be a part of the solar energy revolution! 🌞📈
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
