Alpex Solar seeks IPO to expand capacity amid India's clean energy push

  • Stock Market News
Alpex Solar seeks IPO to expand capacity amid India's clean energy push
Credit: © Reuters.

NEW DELHI - Alpex Solar Limited, an Indian solar energy company, has taken a significant step towards expanding its manufacturing capabilities by filing a Draft Red Herring Prospectus (DRHP) with NSE Emerge. The move is aimed at issuing over six million shares at a price of ₹10 (approx. $0.12) each. This initiative is part of the company's strategy to capitalize on India's ambitious goal to achieve zero emissions by 2070.

The proposed initial public offering (IPO) is being managed by Corporate Capital Ventures, with Skyline Financial Services appointed as the Registrar. Alpex's plan for the proceeds from the IPO is quite clear: they intend to enhance their manufacturing capacity. This includes the addition of advanced Topcon solar cells and the establishment of a new production line for aluminum frames, which are essential components in solar panel construction.

Alpex's expansion efforts are not just limited to manufacturing. The company also plans to invest in comprehensive Engineering, Procurement, and Construction (EPC) services for AC/DC Solar Pumps. This aligns with the growing demand for sustainable energy solutions in India, where solar power is increasingly seen as a viable alternative to traditional energy sources.

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