Post the completion of the problem, shares of the corporate can be listed on the NSE’s small and medium enterprise platform — NSE Emerge.
The maiden public subject contains a contemporary subject of 64.8 lakh fairness shares. At the higher finish of the worth band, the corporate goals to mobilise Rs 74.52 crore.
Solar power options supplier Alpex Solar Ltd on Monday stated it has mounted a worth band of Rs 109-115 apiece for its Rs 75-crore preliminary public providing (IPO).
The subject will open for public subscription on February 8 and conclude on February 12. The bidding for anchor traders will open for a day on February 7, the Greater Noida-based firm stated in an announcement.
The maiden public subject contains a contemporary subject of 64.8 lakh fairness shares. At the higher finish of the worth band, the corporate goals to mobilise Rs 74.52 crore.
Of the IPO proceeds, Alpex plans to utilise Rs 19.55 crore to improve and broaden its photo voltaic module manufacturing facility and improve its capability from 450 MW to 1.2 GW.
Further, Rs 12.94 crore can be used to arrange a brand new manufacturing unit for its photo voltaic modules’ aluminium body; Rs 20.49 crore to fulfill its working capital necessities and the remaining for basic company bills.
Post the completion of the problem, shares of the corporate can be listed on the NSE’s small and medium enterprise platform — NSE Emerge.
The firm manufactures photovoltaic modules, generally referred to as photo voltaic panels. Also, it provides complete photo voltaic power options, together with engineering, procurement, and development (EPC) of AC/DC photo voltaic pumps.
It made a foray into photo voltaic panel manufacturing in 2007 and constructed a state-of-the-artwork plant unfold over 7,700 sq. meters in Greater Noida with a 450 MW capability, which will be expanded to 2 GW throughout the similar infrastructure.
The firm posted a income from operations of Rs 204.59 crore and a revenue after tax (PAT) of Rs 10.03 crore for April-September FY24.
Corporate Capital Ventures is the guide-operating lead supervisor to the problem.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)
