Alpex Solar IPO GMP, Latest Subscription Status, Other Details

The Alpex Solar IPO began the bidding process on February 8 and is scheduled to close on February 12. Here are all the latest details you need to know about the NSE SME IPO.

Alpex Solar IPO Subscription Status

The Alpex Solar IPO has seen an overwhelming response from investors. As of 1:54 am on the final day of bidding, the IPO has been subscribed a staggering 192.25 times, with bids received for 82.86 crore shares against the 43.10 lakh shares on offer.

The retail category witnessed an impressive subscription of 266.35 times, while the non-institutional quota was oversubscribed by 224.40 times. The Qualified Institutional Buyer (QIB) category was oversubscribed by 38.41 times.

See Also: This Small Cap Stock Has Surged 100% In 1 Year, Analysts See Further 57% Upside

Alpex Solar IPO Details

The Alpex Solar IPO comprises entirely fresh issue shares, totalling 64.8 lakh shares, with a price band set at ₹109 to ₹115 per share. The allotment of shares for the Alpex Solar IPO is slated for February 13, with listing scheduled on the NSE SME on February 15, 2024

For investors, the minimum lot size for application is 1,200 shares, requiring a minimum investment of ₹1,38,000 for retail investors.

Established in August 1993, Alpex Solar Limited specializes in the manufacturing of solar panels, leveraging both monocrystalline and polycrystalline cell technologies. Alpex Solar’s clientele includes esteemed entities such as Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power, Hild Energy Private Limited, and Shakti Pumps India Limited.

Alpex Solar IPO GMP

Alex Solar IPO GMP noticed a slight slump today going down to ₹180 from ₹190 reported on day 2 of the IPO. Going by the current GMP, the shares of Alex Solar could list at ₹295, around 150% premium. It’s important to understand that while IPO GMPs can offer a glimpse into market sentiment regarding an IPO, they shouldn’t be the sole determinant of the stock’s performance upon listing.

Read Next: Tata Power Shares Sink 4% After Q3, Brokerages Forecast Further Downfall