The IPO for ACME Solar Holdings is scheduled to launch on November 6. The primary goal of ACME Solar Holdings’ IPO is to raise ₹2900 crores. With a market lot of 51 shares, the pricing range for ACME Solar Holdings’ IPO is set at ₹275 to ₹289.
A well-known renewable energy provider in India, ACME Solar Holdings specializes in producing power utilizing solar and wind energy. One of the biggest suppliers of renewable energy in the nation, ACME works on large-scale project development, building, ownership, operation, and maintenance. Selling power, mostly to state and federal government-supported facilities, is how the corporation makes money.
ACME Solar Grey Market Premium (GMP)
Shares of ACME Solar are currently trading 9.8% higher than the top price band on the gray market. Although it is still unofficial, the GMP, an informal trading indicator, provides an idea of expected listing performance.
ACME Solar Holdings IPO Details
| IPO Open Date | November 6, 2024 |
| IPO Close Date | November 8, 2024 |
| Listing Date | Wednesday, November 13, 2024 |
| 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) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
About the Company – ACME Solar Holding
Using renewable energy sources to generate power is the business of ACME Solar Holdings. The company is among India’s biggest generators of solar and wind-powered electricity. Large-scale renewable energy project development, building, ownership, operation, and maintenance are the areas of expertise for ACME Solar Holdings. Selling power to a range of clients, including plants backed by the federal and state governments, is how the business makes money.
The IPO proceeds are earmarked for two main objectives: debt reduction and corporate funding. A substantial portion will go towards repaying loans incurred by ACME’s subsidiaries, a move that will likely improve the company’s financial stability and reduce interest expenses. Additionally, part of the funds will support general corporate operations, ensuring that ACME has the financial flexibility to pursue new projects and expand its operational capabilities.
