Bookbuilding IPO | ₹2,900 Cr | Listed at BSE, NSE | Wed, Nov 6, 2024 - Fri, Nov 8, 2024
ACME Solar Holdings IPO is a book build issue of ₹2,900.00 crores. The issue is a combination of fresh issue of 8.29 crore shares aggregating to ₹2,395.04 crores and offer for sale of 1.75 crore shares aggregating to ₹504.96 crores.
ACME Solar Holdings IPO bidding started from Nov 6, 2024 and ended on Nov 8, 2024. The allotment for ACME Solar Holdings IPO was finalized on Nov 11, 2024. The shares got listed on BSE, NSE on Nov 13, 2024.
ACME Solar Holdings IPO price band is set at ₹289 per share. The lot size for an application is 51. The minimum amount of investment required by an retail is ₹14,739 (51 shares) (based on upper price). The lot size investment for sNII is 14 lots (714 shares), amounting to ₹2,06,346, and for bNII, it is 68 lots (3,468 shares), amounting to ₹10,02,252.
The issue includes a reservation of up to 3,81,679 shares for employees offered at a discount of ₹27.00 to the issue price.
Nuvama Wealth Management Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to ACME Solar Holdings IPO RHP for detailed Information.
IPO Open
Wed, Nov 6, 2024
IPO Close
Fri, Nov 8, 2024
Issue Price
₹289 per share
Market Cap (Pre-IPO)
₹17,486.81 Cr
| IPO Date | 6 to 8 Nov, 2024 |
| Listed on | Wed, Nov 13, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹275 to ₹289 |
| Issue Price | ₹289 per share |
| Lot Size | 51 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹27.00 |
| Total Issue Size | 10,03,53,919 shares (agg. up to ₹2,900 Cr) |
| Fresh Issue | 8,28,79,871 shares (agg. up to ₹2,395 Cr) |
| Offer for Sale | 1,74,74,048 shares of ₹2 (agg. up to ₹505 Cr) |
| Share Holding Pre Issue | 52,22,07,910 shares |
| Share Holding Post Issue | 60,50,79,883 shares |
| BSE Script Code / NSE Symbol | 544283 / ACMESOLAR |
| ISIN | INE622W01025 |
ACME Solar Holdings IPO offers total 10,03,81,678 shares. Out of which 7,50,00,001 (74.71%) allocated to QIB, 3,00,00,001 (29.89%) allocated to QIB (Ex- Anchor), 1,49,99,999 (14.94%) allocated to NII 99,99,999 (9.96%) allocated to RII and 4,50,00,000 (44.83%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 7,50,00,001 (74.71%) | NA |
| − Anchor Investor Shares Offered | 4,50,00,000 (44.83%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 3,00,00,001 (29.89%) | NA |
| NII (HNI) Shares Offered | 1,49,99,999 (14.94%) | NA |
| − bNII > ₹10L | 99,99,999 (9.96%) | 14,005 |
| − sNII < ₹10L | 50,00,000 (4.98%) | 7,002 |
| Retail Shares Offered | 99,99,999 (9.96%) | 1,96,078 |
| Employee Shares Offered | 3,81,679 (0.38%) | NA |
| Total Shares Offered | 10,03,81,678 (100.00%) |
Investors can bid for a minimum of 51 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 51 | ₹14,739 |
| Retail (Max) | 13 | 663 | ₹1,91,607 |
| S-HNI (Min) | 14 | 714 | ₹2,06,346 |
| S-HNI (Max) | 67 | 3,417 | ₹9,87,513 |
| B-HNI (Min) | 68 | 3,468 | ₹10,02,252 |
ACME Solar Holdings IPO raises ₹1,300.50 crore from anchor investors. ACME Solar Holdings IPO Anchor bid date is November 5, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Nov 5, 2024 |
| Shares Offered | 4,50,00,000 |
| Anchor Portion (₹ Cr.) | 1,300.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Dec 11, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Feb 9, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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. The company achieves this through its in-house engineering, procurement and construction (EPC) division and operations and maintenance (O&M) team. The company's revenue is generated by selling electricity to various customers, including plants supported by the central and state governments.
As of March 31, 2024, the company had a total operational project capacity of 1,320 MW (1,802 MWp) in solar power projects. In addition, it had a contracted project capacity of 1,650 MW, comprising 1,500 MW (2,192 MWp) of solar power projects and 150 MW of wind power projects. In addition, the awarded project capacity under construction amounted to 2,380 MW, consisting of 300 MW of solar power projects, 830 MW of hybrid power projects and 1,250 MW of FDRE power projects.
Competitive strengths
As of March 31, 2024, the company had 214 permanent employees in various departments.
| 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 |
| Total Income | 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 | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in our Subsidiaries for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Subsidiaries; and | 1,795.00 |
| 2 | General corporate purposes | 499.78 |
| KPI | Jun 30, 2024 |
|---|---|
| ROE | 2.93 |
| Debt/Equity | 3.89 |
| RoNW | 0.07 |
| PAT Margin | 47.59% |
| Price to Book Value | 7.77 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 13.36 | 0.09 |
| P/E (x) | 21.63 | 3147.37 |
| Promoter Holding | 100% | 83.41% |
| Market Cap | ₹17,486.81 Cr. |
The ACME Solar Holdings IPO is subscribed 2.89 times on November 8, 2024 6:19:09 PM (Day 3). The public issue subscribed 3.25 times in the retail category, 3.72 times in the QIB category, and 1.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 3.72 | 3,00,00,000 | 11,15,56,023 |
| NII | 1.02 | 1,50,00,000 | 1,52,69,451 |
| bNII (bids above ₹10L) | 0.91 | 1,00,00,000 | 90,59,793 |
| sNII (bids below ₹10L) | 1.24 | 50,00,000 | 62,09,658 |
| Retail | 3.25 | 1,00,00,000 | 3,25,46,568 |
| Employee | 1.85 | 3,46,021 | 6,40,254 |
| Total | 2.89 | 5,53,46,021 | 16,00,12,296 |
Total Application : 6,00,124
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 77.00 |
| 2 | Selling commission and processing fees for SCSBs and Bidding Charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.55 |
| 3 | Fees payable to the Registrar to the Offer | 1.01 |
| 4 | Other expenses: (i) Listing fees, SEBI and Stock Exchanges filing fees, book building software fees and other regulatory expenses | 7.46 |
| 5 | Other expenses: (ii) Printing and stationery expenses | 2.23 |
| 6 | Other expenses: (iii) Advertising and marketing expenses | 16.13 |
| 7 | Other expenses: (iv) Fees payable to the legal counsels to the Offer | 6.79 |
| 8 | Other expenses: (v) Fees payable to Joint Statutory Auditors | 3.95 |
| 9 | Other expenses: (vi) Fees payable to the industry service provider | 1.59 |
| 10 | Other expenses: (vii) Miscellaneous expenses | 2.63 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹289.00 | ₹289.00 |
| Open | ₹259.00 | ₹251.00 |
| Low | ₹248.80 | ₹248.50 |
| High | ₹279.00 | ₹276.10 |
| Last Trade | ₹253.50 | ₹253.15 |
ACME Solar Holdings IPO is a main-board IPO of 10,03,53,919 equity shares of the face value of ₹2 aggregating up to ₹2,900 Crores. The issue is priced at ₹289 per share. The minimum order quantity is 51.
The IPO opens on Wed, Nov 6, 2024, and closes on Fri, Nov 8, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in ACME Solar Holdings IPO using UPI as a payment gateway. Zerodha customers can apply in ACME Solar Holdings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in ACME Solar Holdings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The ACME Solar Holdings IPO opens on Wed, Nov 6, 2024 and closes on Fri, Nov 8, 2024.
ACME Solar Holdings IPO lot size is 51, and the minimum amount required for application is ₹14,739.
You can apply in ACME Solar Holdings IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for ACME Solar Holdings IPO will be done on Monday, November 11, 2024, and the allotted shares will be credited to your demat account by Tue, Nov 12, 2024. Check the ACME Solar Holdings IPO allotment status.
The ACME Solar Holdings IPO listing date is on Wed, Nov 13, 2024.
