ACME Solar Holdings IPO: Key Dates, Price Range, and 10 Must-Know Facts Before Subscribing

The ACME Solar Holdings IPO is set to open on November 6, 2024, and offers a promising opportunity in renewable energy. Here’s a simple breakdown of the essentials:

1. Key Dates: The IPO subscription runs from November 6 to November 8, 2024. Share allotment will be finalized by November 11, with a listing date on November 13 on both BSE and NSE.
2. Size of IPO: Valued at ₹2,900 crore, the IPO includes an offer-for-sale portion worth ₹505 crore and a fresh issue worth ₹2,395 crore, adding up to 10.04 crore shares in total.
3. Price and Lot Details: The price band for ACME Solar shares is set at ₹275 to ₹289. Investors can apply for a minimum of 51 shares (₹14,739). For higher tiers, bNII requires 68 lots (₹10,02,252), while sNII requires 14 lots (₹2,06,346).
4. Lead Managers and Registrar: The lead managers are Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital, and Motilal Oswal. KFin Technologies will act as the IPO registrar.
5. About ACME Solar Holdings: Established in 2015, ACME Solar Holdings is a leader in renewable energy in India, focusing on large-scale wind and solar power projects.
6. Promoters: The company’s promoters include Mamta Upadhyay, Manoj Kumar Upadhyay, ACME Cleantech Solutions, MKU Holdings, and the Upadhyay Family Trust.
7. Objectives of the IPO: Proceeds will help reduce debt at the subsidiary level and fund general corporate needs.
8. Financials: In FY24, ACME Solar saw a revenue increase of 7.71% and a significant jump in net profits over FY23.
9. Industry Peers: ACME Solar’s main competitors are Adani Green Energy and ReNew Energy Global PLC.
10. Grey Market Premium: Currently, the IPO shows no premium in the grey market, indicating that shares are trading at face value.

With strong financials and a clear focus on green energy, this IPO could offer a timely investment opportunity as renewable energy continues to grow.