What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the estimated listing price for Alpex Solar Limited IPO?

Based on the upper price band of ₹115 and current GMP of ₹148, the estimated listing price is ₹263 (approx. 128.7% gain).

What is the expected profit per lot for Alpex Solar Limited IPO?

With a lot size of 1200 shares and current GMP of ₹148, expected profit per retail application lot is approximately ₹1,77,600.

IPO GreyPremiumLIVE

Grey Market Intelligence

Alpex Solar Limited

ListedSME

Emerging SME Services · NSE

Alpex Solar Limited, established in August 1993, is a leading solar panel manufacturer utilizing monocrystalline and polycrystalline cell technologies. The company offers a range of solar panel modules, including bifacial, mono PERC, and Half-Cut types, along with AC/DC solar pumps and EPC solutions for solar energy projects. Alpex Solar serves notable clients such as SolarWorld Energy Solutions, BVG India, Tata Power, Hild Energy, and Shakti Pumps India. The company holds multiple quality certifications, including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. Its manufacturing facility is in Greater Noida, with additional offices in Delhi, Mumbai, Himachal Pradesh, Chittorgarh, Jaipur, Tirupur, and Ludhiana. As of November 2023, Alpex Solar employs 196 professionals across various departments, driving innovation in renewable energy solutions.

Price Band

₹109 – ₹115

Issue Size

₹74.52 Cr

Lot Size

1200 shares

GMP

₹148

+128.7%

Est. Listing

₹263

at current GMP

Subscribed

324.11x

overall

Open

8 Feb 2024

12 Feb 2024

Allotment

13 Feb 2024

Refund

14 Feb 2024

Demat Credit

15 Feb 2024

Listing

15 Feb 2024

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Alpex Solar Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹148+128.7%

Issue Price (Upper)

₹115

Band: ₹109 – ₹115

Estimated Listing Price

₹263

Upper price + GMP

Lot Size

1200 shares

Min investment ₹1,38,000

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹148	128.7%	₹263
30 Oct 2026	+₹148	128.7%	₹263
29 Oct 2026	+₹133	115.8%	₹248

About Alpex Solar Limited Public Issue & Market Profile

Alpex Solar Limited is bringing an initial public offering (IPO) in the Emerging SME Services sector with an aggregate issue size of ₹74.52 Crores. The shares are offered at a price band of ₹109 to ₹115 per equity share on NSE. Currently, investors are tracking the grey market premium (GMP) and institutional subscription multiples closely across BSE and NSE portals.

Public Issue & Pricing Context:

The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.

Basis of Allotment & Listing Timeline:

Following the close of bidding on 2024-02-12, the basis of allotment is scheduled to be finalized on 2024-02-13. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Skyline Financial Services Private Limited) or the BSE allotment checking window.

Frequently Asked Questions

What is Alpex Solar Limited IPO GMP today?

The latest grey market premium for Alpex Solar Limited IPO is ₹148, which indicates an expected listing price of ₹263.

What does Kostak Rate and Sauda mean in IPO GMP?

Kostak rate is the profit amount an investor earns by selling their entire IPO application in the grey market before allotment is finalized.

Is Grey Market Premium officially recognized?

No. GMP is an unofficial indicator discovered between dealers outside of SEBI-regulated exchanges. Actual listing price is determined by demand-supply discovery on NSE/BSE during the pre-open auction.