Alpex Solar’s Rs.75-Cr SME IPO subscribed 301 times

The NSE-Emerge IPO of Greater-Noida based Alpex Solar has been subscribed 301.45 times. The INR 74.52 crore IPO had come with a price band of INR 109-115.The company plans to use INR 19.55 crore of the net proceeds to upgrade and expand its existing solar module manufacturing facility; INR 12.94 crore to set up a new manufacturing unit; INR 20.49 crore to meet its working capital requirements; and the rest for general corporate expenses..Corporate Capital Ventures is the book running lead manager to the Issue.