Alpex Solar Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 8, 2024 to February 12, 2024 |
| Listing Date | February 15, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 109 to ₹ 115 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 64,80,000 shares (aggregating up to ₹ 74.52 Cr) |
| Fresh Issue | 64,80,000 shares (aggregating up to ₹ 74.52 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,79,93,400 |
| Share holding post issue | 2,44,73,400 |
| Market Maker portion | 3,24,000 shares Ss Corporate Securities |
About Alpex Solar Limited IPO
Alpex is a significant global manufacturer of highly specialized high power PV modules and solar systems which are leading the market while being cost effective. The company manufactures and delivers solar panels in the B2B space and also serves as a contract manufacturer for several large companies, including Luminous, Jakson, and Tata Power. Its solar panels are delivered to companies, with a specific focus on EPC companies such as Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power, Hild Energy Private Limited and Shakti Pumps India Limited.These companies install ASL's solar panels at their clients' locations after securing orders.
As for solar water pumps, it targets the B2C segment. Alpex Solar IPO is a book built issue of Rs 74.52 crores. The issue is entirely a fresh issue of 64.8 lakh shares. Alpex Solar IPO price band is set at ₹109 to ₹115 per share. The minimum lot size for an application is 1200 Shares. Corporate Capital Ventures Pvt Ltd is the book running lead manager of the Alpex Solar IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Alpex Solar IPO is Ss Corporate Securities.
Objectives of Alpex Solar IPO
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
- ● Funding Capital Expenditure for upgradation and expansion of the existing solar module manufacturing facility by increasing 750 MW.
- ● Funding Capital Expenditure towards setting up of a new manufacturing unit for Aluminum frame for the solar module.
- ● To Meet Working Capital requirements of the Company.
- ● General Corporate Expenses.
Alpex Solar IPO Review
The company is in solar PV module manufacturing and marketing. It posted steady growth in its top lines for reported periods, but marked an erratic bottom line. The sudden boost in top and bottom lines for H1-FY24 raise eyebrows and sustainability of such margins amidst rising competition. However, based on FY24 super earnings, the issue appears lucratively priced. Investors’ fancy is seen for solar power segment counters. Investors may park funds for the medium to long term rewards.
Alpex Solar Limited IPO Financial Information
Latest Revenue
21,310.72
₹ Crore
Profit After Tax
760.58
₹ Crore
Net Worth
4,906.86
₹ Crore
Total Borrowing
4,175.15
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 14,188.46 | 21,310.72 | 760.58 | 4,906.86 | 4,175.15 | ||||
| 31 Mar 2023 | 12,559.64 | 19,592.07 | 378.58 | 4,146.29 | 4,735.73 | ||||
| 31 Mar 2022 | 10,003.75 | 16,853.62 | 19.42 | 3,767.70 | 2,669.98 | ||||
| 31 Mar 2021 | 9,935.35 | 14,972.96 | 315.23 | 3,748.28 | 2,992.68 | ||||
| Amount in ₹ Crore | |||||||||
Alpex Solar Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 9.55% |
| ROCE | 18.81% |
| Debt/Equity | 1.14 |
| RoNW | 9.55% |
| P/BV | 1.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.1 | 6.22 |
| P/E (x) | 54.66 | 18.5 |
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Competitive Strengths
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Alpex Solar Limited IPO Timeline
| IPO Open Date | Thursday, February 8, 2024 |
| IPO Close Date | Monday, February 12, 2024 |
| Basis of Allotment | Tuesday, February 13, 2024 |
| Initiation of Refunds | Wednesday, February 14, 2024 |
| Credit of Shares to Demat | Wednesday, February 14, 2024 |
| Listing Date | Thursday, February 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 12, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹138,000 |
| Retail (Max) | 1 | 1200 | ₹138,000 |
| HNI (Min) | 2 | 2,400 | ₹276,000 |