Alpex Solar IPO achieves 303-times subscription rate

Alpex Solar Limited’s initial public offering (IPO) received an overwhelming response from investors, achieving a subscription rate of 303 times by the conclusion of the bidding period. The company, based in Greater Noida, aimed to raise Rs 745.2 million from the offering, which took place during February 8-12, 2024. The qualified institutional buyer section of the offering witnessed a subscription of 133 times, the HNI/NII quota witnessed a subscription of 471 times and the individual retail investors quota recorded a subscription of 329 times. This resulted in an overall subscription of 303 times by the closing day of bidding.