1Alpex Solar’s IPO: Closing Update and Grey Market Premium (GMP) Analysis

  • Alpex Solar IPO closes on Feb 12, 2024.
  • Subscribed 105.26 times with 45,37,30,800 bids.
  • Retail category oversubscribed by 165.24 times.
  • Non-institutional quota oversubscribed by 104.31 times.
  • QIB category fully subscribed.
  • Allotment on Feb 13, listing on Feb 15.
  • Grey Market Premium at Rs 190, anticipating 165.22% listing gain.
  • IPO: 64.8 lakh fresh shares, price band Rs 109-115.
  • Minimum lot size: 1,200 shares; Retail min investment: Rs 1,38,000.
  • HNI lot size: 2 lots (2,400 shares), Rs 2,76,000 investment.
  • Key players: Corporate Capitalventures Pvt Ltd, Skyline Financial Services Pvt Ltd, Ss Corporate Securities.

Alpex Solar’s IPO :

The Alpex Solar IPO, launched by IT solutions firm DelaPlex Ltd, is poised to end its subscription phase on Monday, February 12, following an overwhelming reaction from investors. As the bidding process nears its conclusion, let’s look at the subscription status and the current Grey Market Premium (GMP) appraisal.

Subscription Status :

As of 10:32 pm on the last bidding day, the Alpex Solar IPO has received an astounding response, with a subscription rate of 105.26 times. This corresponds to a remarkable 45,37,30,800 shares bid versus 43,10,400 shares offered. The IPO, valued at Rs 74.52 crores, went live for public subscription on February 8, demonstrating strong demand across multiple investor groups.

Detailed Subscription Breakdown :

1.Retail Category: 165.24 times subscribed.
2.Non-institutional quota: 104.31 times subscription.
3.QIB Category: Fully subscribed, with 100% subscription.

Key dates :

The Alpex Solar IPO’s share allotment is expected for February 13, with a listing on the NSE SME platform on February 15, 2024.

The Grey Market Premium (GMP) Analysis :

Market experts report that unlisted shares of Alpex Solar Ltd are selling Rs 190 higher in the grey market than their issue price. The Rs 190 GMP is a predicted listing gain of 165.22% from the public offering. GMP is an indication of investor sentiment that fluctuates according to market circumstances.

Understanding the Grey Market Premium :

The Grey Market Premium (GMP) represents investors’ readiness to pay a premium over the issue price for shares acquired before they are formally listed. It measures market sentiment and forecasts possible listing gains.

IPO Details Recap :

a.Alpex Solar’s IPO includes a new offering of 64.8 lakh shares.
b.Price Range: Rs 109–115 per share.
b. Minimum lot size is 1,200 shares, with a retail investor’s minimum investment of Rs 1,38,000.
e.HNI Lot Size: Two lots (2,400 shares), totaling Rs 2,76,000.

Key players :

Corporate Capitalventures Pvt Ltd is the book-running lead manager for the Alpex Solar IPO, with Skyline Financial Services Private Ltd serving as the registrar. In addition, Ss Corporate Securities serves as the IPO’s market maker.

Conclusion :

The high number of subscriptions and the hefty Grey Market Premium show that investors are confident in the Alpex Solar initial public offering. With anticipation increasing for the allotment and listing dates, stakeholders eagerly await the IPO’s debut on the NSE SME platform, which is set for potential benefits in the fast evolving solar energy industry.

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