ACME Solar Holdings IPO: From financials to GMP, here are 10 key things to know from the RHP before subscribing to the Issue that opens on 6 November for Subscription
1.ACME Solar Holdings IPO key dates: Subscriptions for ACME Solar Holdings’ initial public offering (IPO) will commence 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 finalized.
2.ACME Solar Holdings IPO size
The IPO for ACME Solar Holdings is a book-built offering worth ₹2,900.00 crores. The offering consists of an offer to sell 1.75 crore shares worth ₹505.00 crores and a new issue of 8.29 crore shares for ₹2,395.00 crores.
The proposed listing date for ACME Solar Holdings’ initial public offering (IPO) is set for Wednesday, November 13, 2024, on the BSE and NSE.
3.ACME Solar Holdings IPO subscribing details
The price range or price band for ACME Solar Holdings’ IPO is ₹275 to ₹289 per share. 51 shares is the minimum lot size required for an application.
Looking at issue price and lot size, retail investors must invest a minimum of ₹14,739 in order to qualify. For bNII, the minimum lot size investment is 68 lots (3,468 shares), or ₹1,002,252, and for sNII, it is 14 lots (714 shares), or ₹206,346, respectively.
4. ACME Solar Holdings IPO registrar and lead managers-
The book running lead managers of the 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.
5.About ACME Solar Holdings Limited
Incorporated In June 2015, Acme ACME Solar Holdings Limited is an Indian electricity producer from renewable energy sources. The company is one of the largest producers of electricity from wind and solar energy in India.
The company specializes in the development, construction, ownership, operation and maintenance of large-scale renewable energy projects.
6.ACME Solar Holdings IPO promoters
The company’s promoters are Mamta Upadhyay, Manoj Kumar Upadhyay, ACME Cleantech Solutions Private Limited, MKU Holdings Private Limited, and Upadhyay Family Trust.
7. ACME Solar Holdings -Objectives of the issue
The company plans to utilise the net proceeds from the issue towards the Objective of paying back or partial repayments of some outstanding loans taken out by the subsidiaries; and for general corporate objectives.
8.ACME Solar Holdings IPO financials
ACME Solar Holdings Limited’s revenue increased by 7.71% and net profit rose multifols from a loss to p[rofit in FY24 over FY23
9. ACME Solar Holdings Peers
Adani Green Energy Ltd and ReNew Energy Global PLC are the peers of ACME Solar Holdings Ltd.
10. ACME Solar Holdings GMP or Grey Market Premium
The grey market premium of Acme Solar Holdings IPO is Nil currently as per investorgain.com. This means that shares of ACME Solar Holdings are available in the grey market without any premium
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