ACME Solar Holdings IPO: IPO Price, Details, GMP

Admin
28 October 2024

ACME Solar Holdings Limited IPO, GMP, Details, Price, And Review

Established in 2015, ACME Solar Holdings was formed to consolidate the ACME Group’s renewable energy efforts and seize opportunities within India's renewable energy sector. ACME Solar Holdings Limited is a leading renewable energy company in India, specializing in solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects.

As one of the largest independent power producers (IPP) in the country and among the top ten renewable energy players by operational capacity as of March 31, 2024, ACME has expanded its offerings over the years. Originally focused on solar power, the company has evolved into a fully integrated renewable energy firm. It develops, builds, owns, operates and maintains large-scale renewable energy projects through its in-house engineering, procurement and construction (EPC) division, as well as its operation and maintenance (O&M) team. The company generates revenue by selling electricity to various off-takers, including central and state government-backed entities.

ACME Solar Holdings IPO Overview:

● Issue Size: ₹2,900.00 crores
○ Fresh Issue: 8.29 crore shares (~₹2,395.00 crores)
○ Offer for Sale: 1.75 crore shares (~₹505.00 crores)
● Subscription Dates:
○ Opens: November 6, 2024
○ Closes: November 8, 2024
● Price Band: ₹275 to ₹289 per share
● Minimum Lot Size: 51 shares

● Book Running Lead Managers:

○ Nuvama Wealth Management Limited
○ ICICI Securities Limited
○ JM Financial Limited
○ Kotak Mahindra Capital Company Limited
○ Motilal Oswal Investment Advisors Limited
● Registrar: Kfin Technologies Limited

WHAT IS GMP?

GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.

A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.

ACME Solar Holdings Limited IPO GMP

GMP Date	IPO Price	GMP	Last Updated
05-11-2024	289	25 (8.65%)	05-Nov-2024 13:41
04-11-2024	289	30 (10.38%)	04-Nov-2024 12:24

**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**

ACME Solar Holdings IPO Overview

Detail	Description
IPO Date	November 6, 2024 to November 8, 2024
Listing Date	[.]
Face Value	₹2 per share
Price Band	₹275 to ₹289 per share
Lot Size	51 Shares
Total Issue Size	100,346,022 shares (aggregating up to ₹2,900.00 Cr)
Fresh Issue	82,871,973 shares (aggregating up to ₹2,395.00 Cr)
Offer for Sale	17,474,049 shares of ₹2 (aggregating up to ₹505.00 Cr)
Employee Discount	Rs 27 per share
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre issue	522,207,910
Shareholding post issue	605,079,883

ACME Solar Holdings IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Wednesday, November 6, 2024
IPO Close Date	Friday, November 8, 2024
Basis of Allotment	Monday, November 11, 2024
Initiation of Refunds	Tuesday, November 12, 2024
Credit of Shares to Demat	Tuesday, November 12, 2024
Listing Date	Wednesday, November 13, 2024
Cut-off time for UPI mandate confirmation	5 PM on November 8, 2024

ACME Solar Holdings IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	51	₹14,739
Retail (Max)	13	663	₹191,607
S-HNI (Min)	14	714	₹206,346
S-HNI (Max)	67	3,417	₹987,513
B-HNI (Min)	68	3,468	₹1,002,252

ACME Solar Holdings IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not less than 75% of the Net Issue
Retail Shares Offered	Not more than 10% of the Net Issue
NII (HNI) Shares Offered	Not more than 15% of the Net Issue

ACME Solar Holdings IPO Promoter Holding

Share Holding Pre Issue	100.00%
Share Holding Post Issue

Competitive Strength:

● Largest renewable energy company with strong industry growth in the IPP business.
● End-to-end value chain and integrated approach to renewable energy project development through in-house project development, EPC and O&M teams.
● An expansive portfolio diversified across different renewable energy technologies.
● Long-term stable cash flows based on contracts with central and state government agencies.
● Access to diversified funding sources.
● Design and value engineering leading to greater efficiency.
● Experienced promoters and management team

ACME Solar Holdings Limited Financial Information

Period Ended	30 June 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	13,985.14	13,394.13	12,186.95	10,887.62
Revenue	340.01	1,466.27	1,361.37	1,562.73
Profit After Tax	1.39	697.78	-3.17	62.01
Net Worth	1,942.12	2,590.87	1,900.56	1,908.76
Reserves and Surplus	1,837.68	1,836.43	1,146.12	1,154.32
Total Borrowing	9,319.91	8,217.59	8,657.35	7,563.60
Amount in ₹ Crore

Key Performance Indicator

KPI	Values
ROE	2.93
Debt/Equity	3.89
RoNW	0.07
P/BV	7.77
PAT Margin (%)	0.41

	Pre IPO	Post IPO
EPS (Rs)	13.36	0.09
P/E (x)	21.63	3147.37

Objectives of ACME Solar Holdings IPO

The Company proposes to utilize the Net Proceeds towards funding the following objectives:

1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Subsidiaries.

2. General corporate purposes.

FAQs for ACME Solar Holdings IPO

What is ACME Solar Holdings IPO?

ACME Solar Holdings IPO is a main-board IPO. The company is going to raise ₹2,900 Crores via IPO. The issue is priced at ₹275 to ₹289 per equity share. The IPO is to be listed on BSE & NSE.
When will the ACME Solar Holdings IPO open for subscription?

The IPO is to open on November 6, 2024 for QIB, NII, and Retail Investors. The IPO will close on November 8, 2024.
What is ACME Solar Holdings IPO Investors Portion?

The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.
What is ACME Solar Holdings IPO Issue Size?

ACME Solar Holdings IPO issue size is ₹2900 crores.
What is ACME Solar Holdings IPO Price Band?

ACME Solar Holdings IPO Price Band is ₹275 to ₹289.
What is ACME Solar Holdings IPO Lot Size?

The minimum bid is 51 Shares with ₹14,739 amount.
What is the ACME Solar Holdings IPO Allotment Date?

ACME Solar Holdings IPO allotment date is November 11, 2024.
What is the ACME Solar Holdings IPO Listing Date?

ACME Solar Holdings IPO listing date is November 13, 2024. The IPO is to be listed on BSE & NSE.
What is ACME Solar Holdings current GMP?

The current GMP of the ACME Solar Holdings is 25 (8.65%).