Alpex Solar IPO: Solar panel maker Alpex Solar Ltd’s initial public offering opened for public subscription on Thursday and has received a good response from investors so far. As of 11.20 am on the second day of bidding on Friday, the Rs 74.52-crore SME IPO received 40.31 times subscription with bids for 17,37,49,200 shares as against 43,10,400 shares on offer.
The Alpex Solar IPO will close on February 12.
So far, the retail category has been subscribed 65.90 times, and the non-institutional investor (NII) category quota has been subscribed 34.18 times. The Qualified Institutional Buyer (QIB) category was subscribed 0.10 times.
The Alpex Solar IPO rights issue will take place on February 13 and its listing will take place on NSE SME on February 15, 2024.
Alpex Solar IPO GMP Today
According to market observers, the unlisted shares of Alpex Solar Ltd are trading in the gray market at a premium of Rs 190 above its issue price. The Gray Market Premium or GMP of Rs 190 means that Gray Market expects the listing gain on the public issue to be 165.22%. GMPs are based on market sentiment and are constantly changing.
The “grey market premium” indicates that investors are willing to pay more than the issue price.
Alpex Solar IPO Details
The Alpex Solar IPO was entirely new issuance of 6.48 million shares. The price band for the IPO has been fixed at Rs 109 to Rs 115 per share.
The minimum lot size requested is 1,200 shares. The minimum investment amount required for retail investors is Rs 1,38,000. The minimum investment lot size for HNI is 2 lots (2,400 shares) and the amount is Rs. 2,76,000.
Corporate Capitalventures Pvt Ltd is the lead bookkeeping manager for the Alpex Solar IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for the Alpex Solar IPO is Ss Corporate Securities.
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