Solar Panel IPO, ₹115 Price Band and Fabulous GMP, IPO is in 96 Percent Premium will Open on 8 Feb

IPO of another solar company is going to come into the stock market. If you are also thinking of investing in the issue of a solar company, then this is a good opportunity for you. Recently, the government also made a big announcement regarding solar panels in the budget for 2024. Finance Minister Sitharaman said in her speech that under the PM Awas Yojana, rooftop solar panels will be installed on the houses of about 1 crore households. With this, people will get 300 units of free electricity every month, which will save families Rs 15,000 to 18,000 annually. This means that in the coming time, the shares of companies manufacturing solar panels and doing business related to it may increase.

Solar Panel
Rooftop Solar Panel

IPO Detail (Alpex Solar Limited)

This is an SME IPO and Skyline Financial Services Pvt Ltd is its registrar. This issue is a completely fresh issue of 64.8 lakh shares. Its price band has been fixed from ₹109 to ₹115 per share. It will open for subscription on February 8, 2024, and close on February 12, 2024. Talking about the allotment, it is expected to be finalized by February 13, 2024, and could be listed on NSE SME on February 15, 2024. Retail investors can buy a minimum and maximum 1 lot which contains a total of 1200 shares with a total value of ₹138,000.

IPOAlpex Solar
Market Cap₹ 281.44 Cr
Face Value₹10
Price Band₹109 to ₹115 per share
Lot Size1200 Shares
Fresh Issue6,480,000 shares
Listing AtNSE SME
Open DateFeb 8, 2024
Close DateFeb 12, 2024
UPI MandateFeb 12, 2024 (5 PM)
Allotment DateFeb 13, 2024
Refunds DateFeb 14, 2024
Share Credit DateFeb 14, 2024
Listing DateFeb 15, 2024

Objectives of the Issue

Alpex Solar’s IPO aims to raise funds for specific purposes, including upgrading and expanding the existing solar module manufacturing facility, setting up a new unit for aluminum frame production, meeting working capital needs, and covering general corporate expenses. This will enhance the company’s capabilities and sustain its growth in the renewable energy sector.

What is the GMP going on?

According to stock market experts, its GMP is currently available at a premium of ₹111. Although its price band is Rs 115.00. However, according to GMP, it can be listed for Rs 226 per share. That means investors can get a listing gain of 96.52% on the first day of listing.

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