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HomeBusinessAlpex Solar IPO Day 2: Check Subscription Status, GMP Today - News18

Alpex Solar IPO Day 2: Check Subscription Status, GMP Today – News18

Alpex Solar IPO: Solar panel maker Alpex Solar Ltd’s initial public offering, which 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 74.52 crore SME IPO received 40.31 times subscription, garnering bids for 17,37,49,200 shares against 43,10,400 shares on offer .

The Alpex Solar IPO will close on February 12.

The retail category has so far received 65.90 times subscription and the share of non-institutional investors (NII) category got 34.18 times subscription. The qualified institutional buyer (QIB) category garnered 0.10 times subscription.

Alpex Solar’s IPO allotment will take place on February 13, while its listing will take place on NSE SME on February 15, 2024.

Alpex Solar IPO GMP today

According to market watchers, the unlisted shares of Alpex Solar Ltd are trading Rs 190 higher in the gray market compared to its issue price. The gray market premium of Rs 190 or GMP means that the gray market expects a listing gain of 165.22 per cent on the back of the public issue. The GMP is based on market sentiments and continues to change.

The ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.

Details of Alpex Solar’s IPO

The Alpex Solar IPO is completely a fresh issue of 64.8 lakh shares. The price band of the IPO was set between Rs 109 and Rs 115 per share.

The minimum lot size for an application is 1200 shares. The minimum investment amount required by retail investors is Rs 1,38,000. The minimum lot investment for HNI is 2 lots (2,400 shares) worth Rs 2,76,000.

Corporate Capitalventures Pvt Ltd is the lead book-running manager for the Alpex Solar IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for the Alpex Solar IPO is Ss Corporate Securities.

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    first published: February 9, 2024, 11:42 IST

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