Day 2 of the Alpex Solar IPO: Verify Subscription Status, GMP Now
Alpex Solar IPO: Investors have responded rather well to the solar panel manufacturer Alpex Solar Ltd.’s initial public offering, which was made available to the general public on Thursday. The Rs 74.52-crore SME IPO attracted 40.31 times as many subscriptions till 11:20 am on Friday, the second day of bidding. Bids were received for 17,37,49,200 shares, compared to the 43,10,400 shares that were on sale.
The IPO for Alpex Solar will end on February 12.
Thus far, subscriptions have been received 65.90 times for the retail category and 34.18 times for the non-institutional investor (NII) category quota. The subscription amount for the qualified institutional buyer (QIB) category was 0.10 times.
Alpex Solar’s initial public offering (IPO) will be allocated on February 13 and its listing on the NSE SME is scheduled for February 15, 2024.
Today’s IPO GMP for Alpex Solar
Market watchers report that unlisted shares of Alpex Solar Ltd. are selling on the grey market for Rs 190 more than the company’s issue price. The grey market is anticipating a listing gain of 165.22 percent from the public issuance, as indicated by the Rs 190 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.
The willingness of investors to pay above the issue price is shown by the “grey market premium.”
Details about Alpex Solar’s IPO
64.8 lakh shares are being issued fully new in the Alpex Solar IPO. The initial public offering’s price range was set at Rs 109 to Rs 115 per share.
An application must have a minimum lot size of 1,200 shares. Retail investors are needed to invest a minimum of Rs 1,38,000. For HNIs, the minimum lot size investment is two lots (2,400 shares), or Rs 2,76,000.
The registrant of the Alpex Solar IPO is Skyline Financial Services Private Ltd, while the book-running lead manager is Corporate Capitalventures Pvt Ltd. As for the Alpex Solar IPO, Ss Corporate Securities is the market maker.
