ACME Solar Holdings IPO

NiftyTrader • November 3, 2024

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ACME Solar Holdings IPO

ACME Solar Holdings IPO opens for subscription on November 6, 2024 and closes on November 8, 2024. The allotment for the ACME Solar Holdings IPO is expected to be finalized on Monday, November 11, 2024. ACME Solar Holdings IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, November 13, 2024.

ACME Solar Holdings IPO price band is set at ₹275 to ₹289 per share. The minimum lot size for an application is 51 Shares. The minimum amount of investment required by retail investors is ₹14,739. The minimum lot size investment for sNII is 14 lots (714 shares), amounting to ₹206,346, and for bNII, it is 68 lots (3,468 shares), amounting to ₹1,002,252.

ACME Solar Holdings IPO is a book built issue of Rs 2,900.00 crores. The issue is a combination of fresh issue of 8.29 crore shares aggregating to Rs 2,395.00 crores and offer for sale of 1.75 crore shares aggregating to Rs 505.00 crores.

ACME Solar Holdings IPO Details

IPO Date	November 6, 2024 to November 8, 2024
Listing Date	[.]
Face Value	₹2 per share
Price	₹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)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	522,207,910
Shareholding post-issue	605,079,883
Offer for Sale	R17,474,049 shares of ₹2 (aggregating up to ₹505.00 Cr)

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 Objectives

The Company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the “Objects”)

Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Subsidiaries; and
General corporate purposes.

About ACME Solar Holdings

Acme ACME Solar Holdings Limited, incorporated in June 2015, is a leading renewable energy producer in India, specializing in wind and solar power generation. Leveraging its in-house engineering, procurement, and construction (EPC) and operations and maintenance (O&M) teams, the company develops, constructs, owns, operates, and maintains large-scale renewable energy projects. Its revenue is primarily derived from selling electricity to customers, including government-backed plants. As of March 31, 2024, Acme ACME operates a total project capacity of 1,320 MW (1,802 MWp) in solar power, with additional contracted capacity of 1,650 MW across solar and wind projects and 2,380 MW under construction, including solar, hybrid, and FDRE projects. The company’s competitive strengths include its role as the largest renewable energy player in India’s Independent Power Producer (IPP) sector, a robust end-to-end value chain, a diversified renewable energy portfolio, stable long-term contracts with government entities, diversified funding access, efficient design and value engineering, and an experienced management team.

ACME Solar Holdings Limited Financial Information

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
				Amount in ₹ Crore

ACME Solar Holdings IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not less than 75.00% of the Net offer
Retail Shares Offered	Not more than 10.00% of the Net Offer
NII (HNI) Shares Offered	Not more than 15.00% of the Net Issue

ACME Solar Holdings IPO Timeline

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
A 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