ACME Solar Holdings IPO: Grey market premium declines to nil as subscription date nears

ACME Solar Holdings IPO: ACME Solar IPO opens for subscription on Wednesday, November 6. The declining grey market premium indicates weakening investor interest towards the public issue.

ACME Solar Holdings IPO GMP or grey market premium that stood at ₹30 on Friday has declined to Nil on Monday. This indicates that shares of ACME Solar Holdings that were earlier available in the grey market at a ₹30 premium over the upper band of the issue price ₹289, are now available without any premium and at the issue price itself.

The current GMP also indicates that the public issue that was earlier estimated to be listed at ₹319, 10.38 per cent higher than the issue price, is expected to see a flat listing.

Grey market premium is the willingness of an investor to pay more for a public issue than its offer price.

ACME Solar Holdings IPO key dates

Subscriptions for ACME Solar Holdings' initial public offering (IPO) will open on November 6, 2024, and end on November 8, 2024. On Monday, November 11, 2024, the allocation for the ACME Solar Holdings IPO is anticipated to be finalised. The proposed listing date for ACME Solar Holdings' initial public offering (IPO) is set for Wednesday, November 13, 2024, on the BSE and NSE.

ACME Solar Holdings IPO size

The IPO for ACME Solar Holdings is a book-built offering worth ₹2,900 crore. The offering consists of an offer to sell 1.75 crore shares worth ₹505 crore and a new issue of 8.29 crore shares for ₹2,395 crore.

ACME Solar Holdings IPO registrar and lead managers

The book-running lead managers of ACME Solar Holdings IPO are Nuvama Wealth Management Limited, ICICI Securities Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and Motilal Oswal Investment Advisors Limited. The issue's registrar is Kfin Technologies Limited.