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Hot Pursuit News

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(15 Feb 2024, 12:32)

NSE SME Alpex Solar sizzles on debut

Shares of Alpex Solar were quoting at Rs 345.45 on the NSE, a premium of 200.39% compared with the issue price of Rs 115.

The scrip was listed at Rs 329, a premium of 186.09% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 345.45 and a low of Rs 329. About 28.12 lakh shares of the company changed hands at the counter.

Alpex Solar's IPO was subscribed 216 times. The issue opened for bidding on 8 February 2024 and it closed on 12 February 2024. The price band of the IPO was fixed at Rs 109 to Rs 115 per share.

The IPO comprised fresh issue of 64,80,000 equity shares. The promoter and promoter shareholding diluted to 68.76% from 93.53% pre-IPO.

The company intends to utilize the net proceeds for funding capital expenditure for upgradation and expansion of the existing solar module man...

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