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Alpex Solar IPO: Solar panel manufacturing company is launching IPO, draft papers submitted to SEBI
Alpex Solar IPO: Solar panel manufacturing company Alpex Solar is going to be listed on the stock market soon. The company has submitted draft papers with SEBI. The company will be listed in NSE Emerge. Alpex Solan issued a statement saying that it is raising funds for the capacity expansion project. The issue size of Alpex Solar's IPO will be 6480000 equity shares.
Alpex Solar has announced that it is going to launch an Initial Public Offering (IPO). The company wants to raise funds for the capacity expansion project. Apex Solar said in its statement that it has submitted draft papers for listing on NSE Emerge.
The company has not yet given information about how much amount it wants to raise through IPO. It did say in its statement that it wants to use Rs 19.55 crore of its net income to upgrade and expand its capacity to 750 MW.
Along with this, the company wants to set up a new manufacturing unit for aluminium frames of solar modules for Rs 12.94 crore. Along with this, the company needs Rs 20.49 crore for general corporate expenses and working capital requirements.
According to news agency PTI, the issue size of this IPO will be 64,80,000 equity shares of Rs 10 each. For this, Corporate Capital Ventures has been appointed as the book-running lead manager, while Skyline Financial Services Pvt Ltd is the registrar of the issue.
