Alpex Solar, a solar panel manufacturer headquartered in Greater Noida with an annual manufacturing capacity of 450 MW, has recently filed a DRHP with the national stock exchange, intending to issue 6,480,000 equity shares for Rs 10 each. The company is anticipating a surge in the demand for PV solar panels following the introduction of the Pradhan Mantri Suryoday Yojna and aims to generate approximately Rs 750 million through its public issue.
Alpex Solar plans to use the net proceeds from the IPO to enhance and extend its current solar module manufacturing facility, scaling it up from 450 MW to 1,200 MW. Additionally, the company aims to establish a new manufacturing unit for the aluminum frames of its solar modules. The objectives of the issue also encompass allocating funds to address working capital needs, with the remaining capital earmarked for general corporate expenses.
