Unlisted shares of Alpex Solar Ltd are trading Rs 190 higher in the grey market, which is a 165.22 per cent listing gain from the public issue
Alpex Solar IPO: The initial public offering of solar panel maker Alpex Solar Ltd, which was opened for public subscription on Thursday, has so far received a decent response from investors. Till 11:20 am on the second day of bidding on Friday, the Rs 74.52-crore SME IPO received 40.31 times subscription, garnering bids for 17,37,49,200 shares as against 43,10,400 shares on offer.
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The Alpex Solar IPO will be closed on February 12.
The retail category has so far received 65.90 times subscription and the non-institutional investor (NII) category quota got 34.18 times subscription. The qualified institutional buyer (QIB) category got 0.10 times subscription.
The allotment of Alpex Solar IPO will take place on February 13, while its listing will take place on the NSE SME on February 15, 2024.
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Alpex Solar IPO GMP Today
According to market observers, unlisted shares of Alpex Solar Ltd are trading Rs 190 higher in the grey market as compared with its issue price. The Rs 190 grey market premium or GMP means the grey market is expecting a 165.22 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Alpex Solar IPO Details
The Alpex Solar IPO is entirely a fresh issue of 64.8 lakh shares. The price band of the IPO was fixed at Rs 109 to Rs 115 per share.
The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,38,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,76,000.
Corporate Capitalventures 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.
