The share allotment of Alpex Solar was finalised late Tuesday (please refer to the steps at the end to check the status) and all eyes are on the listing day, which is tentatively set as February 15.

Post the allotment, the company saw a jump in its GMP and is currently at Rs 175, more than double that of the issue price. The IPO was priced at Rs 115 at the upper end.

The public offer of Alpex Solar was subscribed 300 times at close. The category reserved for retail investors was booked 350 times and that of NII investors was subscribed 500 times.

Alpex is a solar photovoltaic (PV) module manufacturer, predominantly in the Northern region of India. Its PV modules are manufactured using both monocrystalline and polycrystalline cell technologies.

The company’s portfolio of solar energy products consists of the following solar PV modules which include bifacial, mono perc, half-cut. It also provides integrated solar energy solutions, including engineering, procurement, construction (EPC) of DC/AC solar pumps.

The development of storage systems such as photovoltaic (PV) is essential in order to increase the capability of photovoltaic systems in order to replace the existing conventional sources.With the growth in demand for photovoltaic installations, the adoption of the storage grid is likely to surge, which will drive the demand for solar energy storage lithium ion-powered batteries and will also drive the growth of the solar energy market.The company proposes to utilise the net proceeds for funding capex towards upgradation and expansion of its existing solar module manufacturing facility, setting up a new manufacturing unit for aluminium frame, working capital requirements and general corporate purposes.

For the period ended September 2023, the company has clocked revenues of 213 crore and net profit of Rs 7.6 crore.

Corporate Capital Ventures is acting as the sole book running lead manager to the issue.

Investors can check whether they received the allotment by following the below steps.

Step 1: Visit the IPO Allotment Status page on Skyline Financial Services website

Step 2: Select IPO from the dropdown

Step 3: Enter Application number and captcha and ‘Submit’.

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