Acme Solar Holdings IPO: Price band set at ₹275-289 per share; check GMP, issue details, more

Acme Solar Holdings IPO price band: The Acme Solar Holdings Limited IPO price band has been fixed in the range of ₹275 to ₹289 per equity share of the face value of ₹2. The Acme Solar Holdings IPO date of subscription is scheduled for Wednesday, November 6, and will close on Friday, November 8. The allocation to anchor investors for the Acme Solar Holdings IPO is scheduled to take place on Tuesday, November 5. The Acme Solar Holdings IPO lot size is 51 equity shares and in multiples of 51 equity shares thereafter.

Acme Solar Holdings IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating up to ₹10 crore.

Tentatively, Acme Solar Holdings IPO basis of allotment of shares will be finalised on Monday, November 11, and the company will initiate refunds on Tuesday, November 12, while the shares will be credited to the demat account of allottees on the same day following refund. Acme Solar Holdings share price is likely to be listed on BSE and NSE on Wednesday, November 13.

Founded in June 2015, Acme ACME Solar Holdings Limited is a producer of electricity in India that focuses on renewable energy sources. It stands as one of India’s leading producers of electricity generated from both wind and solar power.

The firm concentrates on the development, construction, ownership, operation, and maintenance of extensive renewable energy projects. This is accomplished through its internal engineering, procurement, and construction (EPC) division, as well as its operations and maintenance (O&M) team. The company's income comes from selling electricity to a range of customers, including facilities backed by both central and state government initiatives.

The company's listed peers are Adani Green Energy Ltd (with a P/E of 291.7x) and ReNew Energy Global PLC (with a P/E of 48.8x).

ACME Solar Holdings experienced an 8% rise in revenue, and profit after tax (PAT) grew by 21816% for the financial year ending on March 31, 2024 compared to March 31, 2023.

Acme Solar Holdings IPO details

Acme Solar Holdings IPO , which is worth ₹2,900 crore, comprises a fresh issue of ₹2,395 crore, and an offer-for-sale (OFS) of equity shares worth of ₹505 crore by the promoter, ACME Cleantech Solutions Private Ltd.

The company intends to use the net proceeds to facilitate the repayment or prepayment, either partially or fully, of specific outstanding loans obtained by the subsidiaries; as well as for general corporate needs.

Nuvama Wealth Management Ltd, ICICI Securities Ltd, JM Financial Ltd, Kotak Mahindra Capital Company Ltd, and Motilal Oswal Investment Advisors Ltd serve as the book-running lead managers for the ACME Solar Holdings IPO, with Kfin Technologies Ltd acting as the registrar for the offering.

Acme Solar Holdings IPO GMP today

Acme Solar Holdings IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹289 with no premium or discount in the grey market according to investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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