Alpex Solar, a small domestic module manufacturer with annual production capacity of 848 MW, successfully completed an INR 750 million IPO in February 2024. The IPO was oversubscribed by 300 times due to strong investor demand. The stock listed at 1.9x issue price and has since soared to 4.3x issue price trading at a fantastic P/E ratio of 323. Several other manufacturers are lining up with IPO…
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