Alpex Solar Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Alpex Solar

CMP

887.00

-46.65 (-5.00%)

  • DRHP
₹115

Offer Price

₹ 74.52 Cr

Issue Size

₹ 1,38,000

Min Investment

1,200

Lot size

Time Line

  • 08
    Feb 2024
    Open
  • 12
    Feb 2024
    Close
  • 13
    Feb 2024
    Finalisation of Basis of Allotment
  • 14
    Feb 2024
    Initiation of Refunds
  • 14
    Feb 2024
    Transfer of Shares to Demat Account
  • 15
    Feb 2024
    Listing Date

Objects of the Offer

  • Capital Expenditure towards upgradation and expansion of its existing solar module manufacturing facility and setting up of a new manufacturing unit for Aluminium frame for its solar module.

  • Capitalize on the growth opportunities available in the renewable energy sector.

  • Optimal Utilization of Resources.

Products & Services

  • Alpex is a Solar Photovoltaic (PV) module manufacturer in North India.

Strengths

  • Strategically located manufacturing facility.

  • Diverse product portfolio with focus on quality.

  • Experienced Promoter and management team with strong industry expertise and successful track record.

  • Well versed and equipped with advance technology.

  • Quality Assurance & Control.

Risks

  • The company involves in the case of Deputy Commissioner of Income Tax v. Alpex Export Private Limited & Ors Criminal Revision Petition 132/2023 before the Hon`ble Delhi High Court.

  • The company may not be successful in bidding for and winning bids for solar water pumps EPC projects to grow its business.

  • Its Restated Financial Statements are Prepared and Signed by the Peer Review Chartered Accountants who is not Statutory Auditors of the Company.

  • Its business operations may face less sales in unfavourable solar weather conditions could have a material adverse effect on its business, financial condition and results of operations.

  • The company has not taken any steps to order the machinery/equipment required for the proposed aluminium Plant. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment/ machineries in a timely manner, or at all, the same may result in time and cost over-runs.

Company Promoters

Promoters Holding

Issue For IPO
22.51%
Pre Holding

85.00%

Post Holding

62.49%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 165.66 (11.40%) 194.71 (17.50%) 9.55 (-)
Gross Profit 165.66 (11.40%) 194.71 (17.50%) 9.55 (-)
Net Income 165.66 (11.40%) 194.71 (17.50%) 9.55 (-)
Assets 165.66 (11.40%) 194.71 (17.50%) 9.55 (-)
Liabilities 165.66 (11.40%) 194.71 (17.50%) 9.55 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Alpex Solar Ltd 194.71 3.79 89.28 47.81 9.55 6.31 69.13 2.75 0.53
Insolation Energy Ltd 279.37 10.68 159.29 159.29 20.19 6.01 25.38 6.70 1.28

Book Running Managers

  • Corporate Capitalventures Pvt Ltd

Registrar & Transfer Agent

Skyline Financial Services Pvt

D-153/A 1st Flr,
Okhla Industrial Are,
Phase-I - New Delhi-110020
Phone : 91-11-26812682 Fax: 91-11-30857562

Company Contact Information

B-79, Shivalik Enclave Near-,
Malviya Nagar,
New Delhi - 110017
Phone : +91 99717 51589 Email : csalpex@alpexonline.com www.alpexsolar.com

Offer Related Information

Public issue of 64,80,000 equity shares of face value of Rs. 10 each ("Equity Shares") of Alpex Solar Limited (the "Company" or the "Issuer") for cash at a price of Rs. 115 per equity (the "Issue Price") aggregating to Rs. 74.52 ("The Issue") comprising of a fresh issue of 64,80,000 equity shares aggregating to Rs. 74.52 crores (the "Fresh Issue") of which 3,24,000 equity shares aggregating to Rs. 3.73 crores will be reserved for subscription by market maker to the issue (the "Market Maker... More

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