ACME Solar Holdings IPO Overview

ACME Solar Holdings is set to launch its IPO with a total issue size of Rs 2,900 crore. This book-built issue comprises a fresh issue of 8.29 crore shares, raising Rs 2,395 crore, alongside an offer for sale of 1.75 crore shares totaling Rs 505 crore.

The IPO opens for subscription on November 6, 2024, and will close on November 8, 2024. Investors can expect the allotment of shares to be finalized by November 11, 2024, with a tentative listing date of November 13, 2024, on both BSE and NSE.

The price band for the ACME Solar IPO is set between ₹275 and ₹289 per share. The minimum lot size for retail investors is 51 shares, requiring a minimum investment of ₹14,739. For sNII investors, the minimum lot size is 714 shares (14 lots), amounting to ₹206,346. bNII investors need to apply for 68 lots (3,468 shares), totaling ₹1,002,252.

Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital, and Motilal Oswal Investment Advisors are leading the IPO as book-running lead managers, with Kfin Technologies serving as the registrar. For detailed insights, refer to the ACME Solar Holdings IPO RHP.

ACME Solar Holdings IPO Important dates

ACME Solar Holdings IPO opens on November 6, 2024, and closes on November 8, 2024.

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 Financial Performance

ACME Solar Holdings Limited’s revenue increased by 7.71% and profit after tax (PAT) rose by 22084.28% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended 30 Jun 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

ACME Solar Holdings Key Performance Indicator

The market capitalization of ACME Solar Holdings IPO is Rs 17486.81 Cr.

KPI as of June 30, 2024.

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

ACME Solar Holdings IPO Objectives

The Company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the “Objects”)
  1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Subsidiaries; and
  2. General corporate purposes.

ACME Solar Holdings IPO Lot Size

Investors can bid for a minimum of 51 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

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 Details

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
Share holding pre issue 522,207,910
Share holding post issue 605,079,883

ACME Solar Holdings IPO Company Overview and Services

Founded in June 2015, ACME Solar Holdings Limited is a leading Indian electricity producer focusing on renewable energy. The company stands as one of India’s largest providers of wind and solar power, contributing significantly to the nation’s green energy sector.

ACME Solar specializes in large-scale renewable energy projects, overseeing everything from development and construction to ownership, operation, and maintenance. Their in-house engineering, procurement, and construction (EPC) division, along with a dedicated operations and maintenance (O&M) team, enables efficient project execution.

The company generates revenue through electricity sales to various clients, including government-supported plants. As of March 31, 2024, ACME Solar had an operational solar project capacity of 1,320 MW (1,802 MWp), along with a contracted project capacity of 1,650 MW. This includes 1,500 MW (2,192 MWp) in solar projects and 150 MW in wind projects.

Additionally, ACME Solar has an awarded project capacity of 2,380 MW currently under construction. This includes 300 MW in solar power, 830 MW in hybrid power projects, and 1,250 MW in FDRE power projects.

ACME Solar Holdings IPO SWOT Analysis

Strengths

  • Established Renewable Energy Provider: ACME Solar is one of India’s largest renewable energy producers, with significant capacity in both wind and solar power, enhancing credibility and investor confidence.
  • Comprehensive In-House Capabilities: The company’s in-house engineering, procurement, and construction (EPC) division, as well as its operations and maintenance (O&M) team, allow it to control project quality, reduce costs, and maintain operational efficiency.
  • Steady Revenue Stream: ACME Solar generates revenue by selling electricity to a diverse range of customers, including government-backed projects, ensuring a stable and reliable income source.
  • Impressive Operational Capacity: With 1,320 MW of operational solar power capacity and a total contracted and under-construction capacity exceeding 5,000 MW, ACME is well-positioned to meet growing energy demands in India.

Weaknesses

  • Dependence on Government Contracts: The company’s revenue largely depends on government-supported projects, which can lead to uncertainties due to policy changes or payment delays.
  • Capital-Intensive Business: Renewable energy projects require substantial upfront investments. High capital expenditure can strain resources and limit flexibility, especially as the company scales.
  • Limited Diversification: ACME’s primary focus remains on solar and wind energy, with limited diversification into other renewable sources. This could be a disadvantage if demand for alternative energy sources, like bioenergy, rises.

Opportunities

  • Growing Renewable Energy Demand in India: India’s commitment to renewable energy expansion offers ACME the chance to capture market share as the nation moves toward sustainability targets.
  • Expansion in Hybrid and FDRE Power Projects: The company’s 830 MW in hybrid and 1,250 MW in FDRE projects under construction indicates a move towards diversified energy solutions, opening new revenue streams and catering to varying energy demands.
  • Potential for Technological Advancements: Advances in solar and wind technology can help ACME lower operational costs, increase efficiency, and potentially improve profit margins.

Threats

  • Policy and Regulatory Changes: Changes in government policies, tariffs, and tax incentives for renewable energy can impact the financial viability of ACME’s projects.
  • Intense Market Competition: The renewable energy market in India is highly competitive, with several domestic and international players. Increased competition could pressure margins and hinder market expansion.
  • Operational and Environmental Risks: Renewable energy projects are subject to environmental and operational risks, such as adverse weather conditions affecting wind and solar energy production.

ACME Solar Holdings IPO GMP Details

CME Solar Holdings IPO last GMP is ₹0, last updated Nov 8th 2024. With the price band of 289.00, ACME Solar Holdings IPO’s estimated listing price is ₹289 (cap price + today’s GMP).The expected percentage gain/loss per share is 0.00%.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
08-11-2024 Close 289.00 ₹0  — ₹289 (0%) 8-Nov-2024
07-11-2024 289.00 ₹0  — ₹289 (0%) 7-Nov-2024
06-11-2024 Open 289.00 ₹5  200/2800 ₹294 (1.73%) 6-Nov-2024
05-11-2024 289.00 ₹10  400/5600 ₹299 (3.46%) 5-Nov-2024
04-11-2024 289.00 ₹27  1000/14000 ₹316 (9.34%) 4-Nov-2024
03-11-2024 289.00 ₹30   1200/16800 ₹319 (10.38%) 3-Nov-2024

What is IPO GMP?

The grey market premium (GMP) reflects the unofficial trading price of an IPO before its listing, offering insights into its potential market performance. A positive GMP indicates that the IPO may yield profits, while a negative GMP suggests a possible discount upon listing. However, it’s essential to recognize that IPO GMP can be highly volatile. Therefore, investors should not make decisions solely based on the GMP but should thoroughly assess all relevant factors before investing.

Want to Raise money for your company through SME IPO? Read More

ACME Solar Holdings IPO subscription status 

ACME Solar Holdings IPO subscribed 0.74 times. The public issue subscribed 2.16 times in the retail category, 0.33 times in QIB, and 0.59 times in the NII category by November 7, 2024 (Day 2).

Investor Category Subscription (times) Shares Offered Shares Bid for Total Amount (Rs Cr.)*
Qualified Institutions 0.33 30,000,000 98,64,930 285.10
Non-Institutional Buyers 0.59 15,000,000 88,72,368 256.41
  bNII (bids above ₹10L) 0.60 10,000,000 60,44,877 174.70
  sNII (bids below ₹10L) 0.57 5,000,000 28,27,491 81.71
Retail Investors 2.16 10,000,000 2,16,33,996 625.22
Employees 1.16 346,021 4,00,044 11.56
Others [.] 0 0 0
Total 0.74 55,346,021 4,07,71,338 1,178.29

Total Application : 371,864 (1.90 times)

Disclaimer: *The total amount is calculated based on the final issue price or the price in the upper price range.

ACME Solar Holdings IPO (Day-wise) Subscription Details (times)

Date QIB NII Retail EMP Total
Day 1
November 6, 2024		 0.16 0.34 1.28 0.72 0.42
Day 2
November 7, 2024		 0.33 0.59 2.16 1.16 0.74

ACME Solar Holdings IPO Allotment status 

The allotment status of ACME Solar Holdings IPO is expected to be available on November 11, 2024.

ACME Solar Holdings IPO allotment status is not available at this time. ACME Solar Holdings IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for ACME Solar Holdings Limited IPO allotment status.

To check ACME Solar Holdings IPO allotment status, follow the steps below:

  1. Click on the below allotment status check button.
  2. Select Company Name.
  3. Enter your PAN Number, Application Number or DP Client ID (Anyone).
  4. Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on 04067162222, 04079611000 or send an email with all relevant details to acmesolar.ipo@kfintech.com.

ACME Solar Holdings IPO Prospectus 

ACME Solar Holdings IPO Registrar

Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: acmesolar.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/

ACME Solar Holdings IPO Lead Managers

  1. Nuvama Wealth Management Limited
  2. ICICI Securities Limited
  3. Jm Financial Limited
  4. Kotak Mahindra Capital Company Limited
  5. Motilal Oswal Investment Advisors Limited

Lead Manager Reports

  • IPO Lead Manager Performance Summary
  • IPO Lead Manager Performance Tracker

ACME Solar Holdings IPO Contact Details

ACME Solar Holdings Limited
Plot No. 152
Sector 44
Gurugram – 122002
Phone: +91 1247117000
Email: cs.acme@acme.in
Website: https://www.acmesolar.in/

 

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.