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“Explore the details of ACME Solar IPO 2024, including opening date, price band, objectives, and expert opinions. Find out whether this IPO is a good investment opportunity.”
Table of Contents
- Introduction to ACME Solar Limited
- IPO Details (Issue Size, Price, Dates, and Lot Size)
- Objectives of the IPO
- Financial Performance of ACME Solar Limited
- Industry Overview
- Strengths and Risks of Investing in ACME Solar Limited IPO
- Grey Market Premium (GMP) and Market Sentiment
- How to Apply for the IPO
- Conclusion
1. ACME Solar Holdings Ltd IPO Overview
The ACME Solar IPO opened for bidding on November 6, 2024, and will close on November 8, 2024. This IPO is an offer for sale, meaning existing shareholders are selling shares, and no new capital is being raised by the company. The IPO price band is set between ₹275 and ₹289 per share, with a minimum lot size of 51 shares, amounting to ₹14,739 for retail investors.
2. IPO Details (Issue Size, Price, Dates, and Lot Size)
IPO Dates : The IPO Open Is November 6, 2024 and Close November 8, 2024
Issue Size : The IPO Issue Size is 2900.00 Cr.
Price Band : IPO Price Band is Set at 275-289 per share
Lot Size : IPO Lot Size is 51 share’s
Fresh Issue : IPO Fresh Issue is 8.29 Cr.
Offer for Sale : IPO Offer for Sale is 1.75 Cr.
3. IPO Timeline ( IPO Important Dates )
Here is a quick overview of the ACME SolarIPO details:
Opening Dates : The IPO is set to open on November 6, 2024.
Closing Dates : IPO Closing Dates is November 8, 2024
Allotment Status Date : IPO Allotment Status November 11, 2024
Share Transfer Demet A/c : Share Transfer your Demet A/c November 12, 2024
Credit Refund Bank A/c : Credit Refund Your Bank A/c November 12, 2024
Listing Date : IPO Listing Date is November 13, 2024
Listing Exchange : IPO Listing Exchange NSE SME
ACME Solar Holdings Ltd IPO: A Comprehensive Guide Ltd IPO 2024 : Complete details IPO Price, Allotment, GMP Updated
About Company
ACME Solar Holdings is one of India’s prominent renewable energy producers, focusing primarily on solar and hybrid energy solutions. Founded in 2015, the company has rapidly grown to become a major player in India’s renewable energy sector, with significant expansions in solar, wind, and hybrid projects. As of 2024, ACME Solar has an installed capacity of over 3,668 MWp across various states in India, with plans to continue expanding its footprint in sustainable energy through projects like solar-wind hybrids and renewable hydrogen initiatives
ACME Solar also engages in environmental sustainability practices, such as reducing carbon emissions, conserving water, and planting trees to further enhance its commitment to green energy. In July 2024, the company filed for an IPO to support its aggressive expansion, aiming to raise approximately ₹3,000 crore to fund additional projects and strengthen its market position
Company Financial
Here is ACME Solar Holdings’ financial performance summary over the past three fiscal years:
| Fiscal Year | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Revenue (₹ Cr) | 1,466.27 | 1,361.37 | 1,562.73 |
| Profit After Tax (₹ Cr) | 697.78 | -3.17 | 62.01 |
| Net Worth (₹ Cr) | 2,590.87 | 1,900.56 | 1,908.76 |
| Reserves and Surplus | 1,836.43 | 1,146.12 | 1,154.32 |
| Debt (₹ Cr) | 8217.59 | 8,657.4 | 7,563.60 |
In recent years, ACME Solar has demonstrated strong revenue growth, especially from FY 2023 to FY 2024. Profitability has also improved significantly in FY 2024, and the company’s return on equity has increased, indicating enhanced returns on shareholder investments. However, debt remains relatively high, which is typical for capital-intensive sectors like renewable energy
IPO Reservation
The ACME Solar IPO includes a specific reservation distribution among different investor categories, adhering to SEBI regulations. For Anchor Investor Share Offered (44.84%) Qualified Institutional Buyers (QIBs), 29.9% of the shares in the offering are reserved, ensuring significant participation from institutional investors. Non-Institutional Investors (NIIs), including High Net Worth Individuals (HNIs), are allotted 14.95% of the shares, while Retail Individual Investors (RIIs) have a 9.97% reservation in the IPO. Additionally, there is a reserved portion for eligible employees under the Employee Reservation Quota
How to Apply for ACME Solar IPO?
Here’s how you can apply for the ACME Solar IPO:
UPI Mandate: Ensure that you approve the UPI mandate request to complete your application.
Through ASBA: You can apply via the Application Supported by Blocked Amount (ASBA) process through your bank.
Using Online Broker Platforms: Platforms like Angel One, Groww, and Upstox offer a quick and seamless IPO application process.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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FAQs
What is the price band for the ACME Solar Ltd IPO?
The IPO price band is set between ₹275 and ₹289 per share.
What is the minimum investment required?
The minimum lot size for retail investors is 51 shares, translating to an investment of approximately ₹14,739 at the lower end of the price band
When is the ACME Solar IPO opening and closing date?
The ACME Solar IPO is scheduled to open on November 6, 2024, and close on November 8, 2024. The shares are expected to be listed on the stock exchanges by November 13, 2024
How can I apply for the ACME Solar IPO?
You can apply through major brokerage platforms like Zerodha, Groww, or AngelOne, provided you have a Demat account.
How can I check the GMP for ACME Solar Limited IPO?
GMP updates are available on financial websites and IPO tracking portals like Chittorgarh, Investorgain and IPO Central, which update GMP daily.
Who is the registrar for ACME Solar IPO?
The registrar for Sagility India IPO is Link Intime India Pvt Ltd. Investors can check their allotment status on Link Intime’s official website.
