Solar Panel company Alpex Solar is planning to raise funds through an Initial Public Offer. Alpex Solar IPO will offer 64.80 lakh equity shares. Through this IPO company will raise ₹75 Crore. The company has filed the Draft Red Herring Prospectus (DRHP) to SEBI to get approval. Let’s discuss the IPO details, face value, and many more things about the company’s primary work.
Alpex Solar is primarily known in the Solar energy industry company. As per the details, the Alpex Solar IPO face value is ₹10 each. Now company is looking to raise funds to invest in the expansion for future growth. Alpex is currently, planning to double its capacity which is 450 MW to 1.2 GW for photovoltaic (PV) modules. Alpex Solar is an SME category company. The issue size of this Initial Public Offer is ₹75 Crore.
Alpex Solar is expanding its manufacturing facility under the Atmanirbhar Bharat Initiative which is an encouraging campaign by the Indian Government. The company has announced that the funds through this IPO will be used for the working capital requirements and expansion of the company.
Here are the financials of Alpex Solar and you can see how the company has performed in the past days. In September FY23, the company achieved a revenue of ₹207.13 crore. In this result, the profit after tax (PAT) was at ₹10.02 Crore in the first half of FY2024. The EBITDA Margin was 6.86% and the market cap surged to 300 crore.