The shares of Alpex Solar delivered 215% returns to its investors so far. The stock was listed on the NSE SME platform on Thursday with a premium of 186%, after which it rallied further to close the day at Rs 345 as against an issue price of Rs 115.
Alpex is a solar photovoltaic (PV) module manufacturer, predominantly in the Northern region of India. Its PV modules are manufactured using both monocrystalline and polycrystalline cell technologies.
The shares of Alpex Solar nearly tripled investors wealth on the first day of debut. The stock listed on the NSE SME platform with a premium of 186%, after which it rallied further to close the day at Rs 345 as against an issue price of Rs 115.
The initial public offer (IPO) of Alpex Solar is generating strong interest among investors with an overall subscription at 16 times so far on Thursday, the first day of bidding process. The Rs 74.5 crore SME IPO is completely a fresh equity issue of 64.8 lakh shares.