Alpex Solar IPO will open for subscription from 08 February 2024. The company aims for an issue size of ₹74.52 Cr through this IPO.
Company Overview
| Full name | Alpex Solar Limited |
| Sector | Photographic Products |
| Industry | Photographic Products |
| Company Website | https://www.alpexsolar.com/ |
About Company
In North India, Alpex leads as a solar photovoltaic (PV) module manufacturer, utilizing monocrystalline and polycrystalline cell technologies. Their solar product range includes bifacial, mono-perc, and Halfcut solar PV modules. Additionally, Alpex offers integrated solar solutions, covering engineering, procurement, and construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.
In the B2B arena, the company both produces and delivers solar panels. It is a contract manufacturer for major players like Luminous, Jakson, and Tata Power. Focused on EPC companies such as Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power, Hild Energy Private Limited, and Shakti Pumps India Limited, the company ensures swift and targeted delivery of solar panels.
Alpex Solar presently functions from a single manufacturing facility in Greater Noida. The company further extends its presence with offices strategically situated in different cities, encompassing New Delhi, Haryana, Chhattisgarh, Mumbai, Ludhiana, Nalagarh (Himachal Pradesh), Jaipur, and Tirupur (Tamil Nadu). The fully automated robotic plants currently produce 450MW, with plans to increase to 1GW. As of November 2023, the company employs 196 individuals across different departments.
The Objectives of the Issue
- Funding Capital Expenditure for the upgradation and expansion of the existing solar module manufacturing facility by increasing 750 MW;
- Funding Capital Expenditure towards setting up a new manufacturing unit for the Aluminum frame for the solar module;
- To Meet the Working Capital requirements of the Company; and
- General Corporate Expenses.
Alpex Solar IPO Timetable
| IPO Opening date | 08 February 2024 |
| IPO Closing | 12 February 2024 |
| Basis of Allotment | 13 February 2024 |
| Initiation Refund | 14 February 2024 |
| Credit to Demat Account | 14 February 2024 |
| Listing Date | 15 February 2024 |
Alpex Solar IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹74.52 Cr – 6,480,000 shares |
| Fresh Issue | ₹74.52 Cr – 6,480,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹109 to ₹115 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 324,000 shares |
| Shareholding pre-issue | 17,993,400 |
| Shareholding post-issue | 24,473,400 |
| Listing Exchange | NSE SME |
Alpex Solar IPO Lot Size
| 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 Reservation Details
| 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 Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 148.53 | 165.56 | 194.68 | 212.76 |
| Expenses | 146.29 | 168.16 | 190.63 | 203.14 |
| Net income | 3.15 | 0.19 | 3.79 | 7.61 |
Alpex Solar Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.76 | 0.11 | 2.10 |
| PE ratio | – | – | 51.90 – 54.76 |
| RONW (%) | 8.39 | 0.52 | 9.55 |
| NAV | 62.49 | 62.82 | 63.13 |
| EBITDA (%) | 6.82 | 4.18 | 6.52 |
| ROCE (%) | 13.24 | 2.79 | 18.81 |
| Debt/Equity | 0.80 | 0.71 | 1.14 |
Company Promoters
- Mr. Ashwani Sehgal
- Mrs. Monica Sehgal
- Mr. Vipin Sehgal.
Promoter Holding
| Pre Issue Share Holding | 93.53% |
| Post Issue Share Holding | 68.76% |
Alpex Solar IPO Lead Manager(s)
CORPORATE CAPITAL VENTURES PRIVATE LIMITED
B1/E13, First Floor, Mohan Co-operative Industrial Estate,
Mathura Road, New Delhi – 110044
Phone: +91 11 41824066
Email: smeipo@ccvindia.com
Website: www.ccvindia.com
Alpex Solar Registrar
SKYLINE FINANCIAL SERVICES PVT. LTD
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone: +91- 11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Alpex Solar Contact Details
ALPEX SOLAR LIMITED
Plot No I 26 Site 5 Surajpur Industrial Area,
I.A. Surajpur, Gautam Buddha Nagar,
Noida, Uttar Pradesh, India, 201306
Phone: +91 9826298268
E-mail: italian_edibles@yahoo.com
Website: www.ofcoursegroup.com
Alpex Solar IPO Allotment Status
Alpex Solar IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.
Final thoughts
Alpex Solar IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
