Investors witnessed a remarkable debut of Alpex Solar’s initial public offering (IPO) as the solar panel maker’s stock surged to unprecedented heights on Thursday, February 15. Listed at a staggering premium of 186% at ₹329 against an issue price of ₹115, the stock witnessed further gains, locking in the upper circuit with over 200% increase.

Prior to its debut, Alpex Solar’s shares were already commanding a substantial premium of ₹150 in the unlisted market, hinting at the immense investor interest in the company. Considering the upper price band of ₹115, the stock was anticipated to list at a premium of 130%.

The ₹75 crore SME issue garnered exceptional interest from investors, being oversubscribed by a massive 324 times at close. Notably, the retail category subscription reached 350 times while that of non-institutional investors was subscribed 500 times.

The fresh proceeds from the IPO will fuel Alpex Solar’s ambitious expansion plans, focusing on upgrading and expanding its existing solar module manufacturing facility from 450 MW to 1.2 GW under the Aatmanirbhar Bharat initiative. Additionally, the company aims to establish a new manufacturing unit for its solar module’s aluminium frame, enhancing its production capabilities to meet the growing demand.

Alpex Solar’s decision to more than double its capacity, from 450 MW to 1.2 GW for photovoltaic (PV) modules, reflects its strategic vision to capitalize on the burgeoning demand for solar panels. The additional capacity will enable the production of specialized and value-added products, leading to improved margins and competitiveness in the market.

The company anticipates a surge in demand for PV solar panels, particularly with the introduction of the Pradhan Mantri Suryoday Yojna. This scheme, targeting the installation of rooftop solar on one crore houses (approximately 30GW), is expected to significantly reduce electricity bills nationwide while fostering self-reliance in the energy sector.

Ashwani Sehgal, Founder and Managing Director of Alpex Solar, expressed confidence in the company’s growth trajectory, emphasizing the transformative impact of the Pradhan Mantri Suryoday Yojna on India’s energy landscape.

Overall, Alpex Solar’s stellar debut and strong investor response underscore the market’s confidence in the company’s growth prospects and its pivotal role in India’s solar energy transition. As the nation embraces renewable energy solutions, Alpex Solar stands poised to emerge as a key player in driving sustainable development and energy independence.

By Admin

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