Alpex Solar IPO

Alpex Solar IPO Garners Massive Response with Over 300 Times Subscription

Alpex Solar's recent IPO on NSE-Emerge witnesses exceptional interest and subscription, raising funds for expansion and growth.

The Alpex Solar IPO on NSE-Emerge has been a sensation, being oversubscribed by a remarkable 301.45 times, reflecting a tremendous response from investors. The company, with plans to utilize the net proceeds for upgrading its solar module manufacturing facility, experienced overwhelming demand. In just three days of the bidding period, investors swooped in for 139.7 crore equity shares against an IPO size of 46.34 lakh equity shares.

Amidst this fervor, Alpex Solar, a Greater Noida-based solar module manufacturer, is set to utilize the raised capital of Rs 19.55 crore for enhancing and expanding its existing manufacturing unit. This move is aimed at bolstering its production capacity and efficiency, signaling a strategic growth trajectory.

Moreover, the IPO allotment status for Alpex Solar is eagerly anticipated, with the refund process scheduled for February 14. Investors are keenly awaiting the final outcome and the subsequent crediting of shares to their Demat accounts.

In the world of IPOs, Alpex Solar has made a remarkable mark with its exceptional subscription rates and strategic fund utilization. The company's journey towards expansion and innovation is closely watched by investors and industry enthusiasts alike.