25, February, 2024
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Alpex Solar IPO: Record-Breaking Demand Signals Enthusiastic Investor Response

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The Alpex Solar IPO is set to close on Monday, February 12, amid unprecedented investor interest, showcasing a remarkable 320.12 times subscription rate. With bids reaching a staggering 1,37,98,56,000 shares against the 43,10,400 shares on offer, it’s evident that market sentiment is overwhelmingly positive.

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This enthusiasm is mirrored in the grey market, where unlisted shares of Alpex Solar Ltd are trading at a premium of Rs 180, signaling a potential listing gain of 156.52 per cent from the public issue. Such a significant premium underscores investors’ willingness to pay above the issue price, reflecting high confidence in the company’s prospects.

Scheduled for listing on the NSE SME on February 15, 2024, the Alpex Solar IPO comprises a fresh issue of 64.8 lakh shares, priced in the range of Rs 109 to Rs 115 per share. Notably, the retail category has seen a subscription rate of 344.26 times, while the non-institutional quota stands at an impressive 501.85 times. The QIB category has also witnessed substantial demand, with a subscription rate of 141.48 times.

Investors are required to apply for a minimum lot size of 1,200 shares, translating to a minimum investment of Rs 1,38,000 for retail investors. For HNIs, the minimum lot size investment is set at 2 lots (2,400 shares), amounting to Rs 2,76,000.

Corporate Capitalventures Pvt Ltd is spearheading the IPO as the book-running lead manager, with Skyline Financial Services Private Ltd acting as the registrar. Ss Corporate Securities is designated as the market maker for the Alpex Solar IPO, further reinforcing investor confidence in the offering.

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As anticipation mounts for the allotment of shares on February 13, all eyes are on the listing date, with expectations running high for a stellar debut on the exchange. The overwhelming response to the Alpex Solar IPO not only underscores the company’s potential but also reflects the buoyancy in the renewable energy sector, making it a standout offering in the current market landscape.

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