Alpex Solar to raise Rs75 cr
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New Delhi: Solar energy solutions provider Alpex Solar has filed preliminary papers with SEBI to raise Rs 75 crore through an initial public offering.
The offer comprises fresh issuance of 64,80,000 equity shares with a face value of Rs10 each, a company statement said. Alpex Solar has filed its Draft Red Herring Prospectus (DRHP) for the IPO and shares will be listed with NSE Emerge.
The company intends to raise around Rs 75 crore through the IPO, it stated. It will utilise net proceeds from the IPO to upgrade and expand its existing solar module manufacturing facility from 450 MW to 1.2 GW under the Aatmanirbhar Bharat initiative, besides setting up a new manufacturing unit for its solar module’s aluminium frame. The funds will also be used to meet its working capital requirements and for general corporate expenses.
