Alpex Solar IPO
The initial public offering (IPO) of Alpex Solar will open for subscription on February 08 and close on February 12, comprising a fresh issue of Rs. 74.52 Crore. An investor can apply for the issue for a minimum of 1200 shares and the listing will happen on February 15, 2024.
#1. Quick Intro to Alpex Solar
Alpex Solar Limited (1993) is a manufacturer of solar panels. The company uses monocrystalline and polycrystalline cell technologies. The company offers a range of solar panel modules including bifacial, mono PERC, and Half-Cut modules. The company offers solar energy solutions, including AC/DC solar pumps and 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.
Check out the IPO allotment status on IPO Deliver.
#2. IPO Object of Alpex Solar
The company intends to use the IPO Funds for the following purposes:
- Funding capital expenditure for upgrading and expanding our existing solar module manufacturing facility by increasing 750MW.
- Funding capital expenditure towards setting up a new manufacturing unit for aluminum frames for our solar module.
- To meet the working capital requirements of the company.
- General corporate expenses.
#3. Alpex Solar Core Strengths
- Capital Expenditure towards upgrading and expanding our existing solar module manufacturing facility and setting up a new manufacturing unit for aluminum frames for our solar module.
- Capitalize on the growth opportunities available in the renewable energy sector.
- Optimum utilization of resources.
#4. Alpex Solar IPO Review & Rating
| Issue Size | Rs.74.52 Crore |
| Issue Price | Rs.109 to Rs.115 per share |
| Minimum Lot Size | 1200 Shares |
| Total Profit (March 2023) | Rs. 378.58 Lakh |
| ROE | 9.55 |
| ROCE | 18.81 |
| Listing on | NSE |
| IPO Deliver Rating | THREE |
#5. Alpex Solar IPO Dates, Price Band & Details
Alpex Solar IPO will open on February 08, 2024, and close on February 12, 2024. The IPO is to be listed on February 15, 2024.
| Type of issue | Book Built Issue IPO |
| Issue Size | Rs.74.52 Crore |
| Price Brand | Rs.109 to Rs.115 per share |
| Face Value | Rs. 10/- per share |
| IPO Open Date | February 08, 2024 |
| IPO Close Date | February 12, 2024 |
| IPO Allotment Date | February 13, 2024 |
| Refund Date | February 14, 2024 |
| Share Credit Date | February 14, 2024 |
| Listing Date | February 15, 2024 |
#6. Alpex Solar IPO Offer Details
Alpex Solar IPO’s total issue size is 6,480,000 shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Crore) |
| Fresh Issue | 6,480,000 | 74.52 |
| Offer for Sale (OFS) | – | – |
#7. Alpex Solar Financials Overview (Lakhs)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Total Revenue | 19,592.07 | 16,853.62 | 14,972.96 |
| Net Worth | 4,146.29 | 3,767.70 | 3,748.28 |
| Profit | 378.58 | 19.42 | 315.23 |
| Total Borrowings | 4,735.73 | 2,669.98 | 2,999.68 |
#8. Alpex Solar Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 2.10 | 0.11 | 1.76 |
| RoNW (%) | 9.55 | 0.52 | 8.39 |
| NAV (Rs.) | 69.13 | 62.82 | 69.13 |
#9. Alpex Solar Comparison with Other Peer Companies (Top 2)
Listed companies in India are comparable in all aspects of the business.
| Company Names | Total Revenue
(Rs. in million) |
RoNW (%) | NAV (Rs.) |
| Insolation Energy Limited | 28005.86 | 28.48 | 25.39 |
#10. Alpex Solar Company Promoters
The company has three promoters as per the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP).
| Sr. No. | Name of Promoters |
| 01. | Ashwani Sehgal |
| 02. | Manica Sehgal |
| 03. | Vipin Sehgal |
#11. Alpex Solar Pre-offer and Post-Offer Promoters Shareholding
| Promoters Holding | Percentage (%) |
| Pre-issue | 93.53 |
| Post-issue | 68.76 |
#12. Alpex Solar IPO Reservation Details
Alpex Solar IPO total reservation shares are distributed between the below-mentioned categories.
| Category | Share Offered |
| Retail Share Offered | Not less than 35% of the issue size |
| QIB Shares Offered | Not more than 50% of the issue size |
| NII (HNI) Shares Offered | Not less than 15% of the issue size |
#13. Alpex Solar IPO – Lot Size
An investor can apply for a minimum of 1200 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail (Min.) | 1 | 1200 | 138,000 |
| Retail (Max.) | 1 | 1200 | 138,000 |
| HNI (Min.) | 2 | 2,400 | 276,000 |
#14. Alpex Solar IPO – Prospectus Copy
An investor can download/view the Alpex Solar prospectus copy, which the company filed to exchange, details are as follows.
| Alpex Solar IPO Prospectus |
| Draft Red Herring Prospectus (DRHP) |
| Red Herring Prospectus (RHP) |
#15. Alpex Solar IPO Registrar
Skyline Financial Services Private Limited
Phone No.: +91-11-404501939-197
E-Mail: ipo@skylinerta.com
Website: www.skylinerta.com
#16. Alpex Solar IPO Lead Manager
Corporate Capital Ventures Private Limited
Phone No.: +91-11-41824066
E-Mail: smeipo@ccvindia.com
Website: www.ccvindia.com
#17. Alpex Solar IPO Application (How to Apply for an IPO)
There are three primary options for applying for an Alpex Solar IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Alpex Solar Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Alpex Solar Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your account or refunded if no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your bank account or refunded if no allotment is made to you.
#18. Alpex Solar Company Details
Alpex Solar Limited
Registered Office: B-79, Shivalik Enclave, Near Malviya Nagar, New Delhi-110017 India
Phone No: +91-9971751589
Email: csalpex@alpexonline.com
Website: www.alpexonline.com
Investor Grievances/Compliance Officer: Sakshi Tomar
#19. Alpex Solar Subsidiary Companies (Top 2)
| Sr.No. | Name of Companies (Indian) |
| 01. | Alpex Exim Private Limited |
#20. Alpex Solar Company Board (Top 2)
| Sr. No. | Name of Directors |
| 01. | Ashwani Sehgal |
| 02. | Monica Sehgal |
Alpex Solar IPO – Frequently Asked Questions (FAQs)
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#1. What is an Alpex Solar IPO? Alpex Solar brings its IPO of Rs.74.52 Crore, on February 08, 2024, with a price band of Rs.109 to Rs.115 per share. |
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#2. What is the Alpex Solar IPO Open date? Alpex Solar IPO’s opening date is February 08, 2024. |
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#3. What is the Alpex Solar IPO Close Date? Alpex Solar IPO’s closing date is February 12, 2024. |
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#4. What is the Alpex Solar IPO Listing date? Alpex Solar’s IPO listing date is February 15, 2024. |
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#5. What is the Alpex Solar IPO Minimum investment amount? Alpex Solar IPO’s minimum investment amount is Rs. 138,000. |
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#6. What is the Alpex Solar IPO offer issue Size? Alpex Solar offers an issue size of Rs.74.52 Crore. |
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#7. What is the Alpex Solar IPO Price Band? Alpex Solar’s IPO price band is Rs.109 to Rs.115 per share. |
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#8. Is Alpex Solar IPO mainboard IPO or SME IPO? Alpex Solar IPO is a SME IPO. |
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