Alpex Solar’s SME IPO will open on this day and will set a price band; see more here

The producer of solar energy solutions, Alpex Solar Ltd., said on Monday that it has set a pricing range for its Rs 75-crore initial public offering (IPO) of Rs 109-115 per share.

The public may subscribe to this issue starting on February 8 and it will end on February 12. The firm situated in Greater Noida said in a statement that the bidding for anchor investors would be available for a full day on February 7.

Sixty-eight thousand equity shares are being issued as part of the first public offering. The firm wants to raise Rs 74.52 crore at the top end of the pricing range.

Alpex intends to use the Rs 19.55 crore in proceeds from the initial public offering (IPO) to modernize and expand its solar module production facilities, increasing its capacity from 450 MW to 1.2 GW.

In addition, Rs 12.94 crore will be used to establish a new production facility for the aluminum frame of its solar modules; the remaining amount, Rs 20.49 crore, will cover working capital needs and other corporate costs.

Shares of the business will be listed on NSE Emerge, the NSE’s small and medium enterprise platform, after the offering is closed.

The firm produces solar panels, sometimes referred to as photovoltaic modules. Additionally, it provides all-inclusive solar energy solutions, such as AC/DC solar pump engineering, procurement, and construction (EPC).

In 2007, it ventured into the production of solar panels, constructing a cutting-edge facility spanning 7,700 square meters in Greater Noida with a 450 MW capacity that can be increased to 2 GW using the same infrastructure.

During April-September of FY24, the firm reported operating revenue of Rs 204.59 crore and profit after tax (PAT) of Rs 10.03 crore.

The issue’s book-running primary manager is Corporate Capital Ventures.