ACME Solar Holdings IPO
- IPO Date06 Nov, 2024 to 08 Nov, 2024
- Listing Date13 Nov, 2024
- Face Value₹2 per share
- Issue Price₹275 to ₹289 per share
- Lot Size51 Shares
- Minimum Investment₹14,739
- Listing AtBSE, NSE
- Total Issue Size10,03,46,022 Shares
(aggregating up to ₹2900.00 Cr) - Fresh Issue8,28,71,973 Shares
(aggregating up to ₹2395.00 Cr)
- Offer for Sale1,74,74,049 Shares
(aggregating up to ₹505.00 Cr) - Issue TypeBook Built Issue IPO
- Share holding pre issue52,22,07,910
- Shareholding post issue60,50,79,883
IPO Dates
Closing Date
08 Nov, 2024
Initiation of Refunds
12 Nov, 2024
Listing Date
13 Nov, 2024
06 Nov, 2024
Opening Date
11 Nov, 2024
Basis of Allotment
12 Nov, 2024
Credit of Shares
ACME Solar Holdings 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 |
| B-HNI (Min) | 68 | 3468 | ₹10,02,252 |
| S-HNI (Max) | 67 | 3417 | ₹9,87,513 |
| S-HNI (Min) | 14 | 714 | ₹2,06,346 |
| Retail (Max) | 13 | 663 | ₹1,91,607 |
ACME Solar Holdings Promoter Holding
The company's promoters are Mamta Upadhyay, Manoj Kumar Upadhyay, ACME Cleantech Solutions Private Limited, MKU Holdings Private Limited, and Upadhyay Family Trust.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 100% | - |
ACME Solar Holdings COMPANY INFORMATION
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 bidding opened for subscription on November 6, 2024 and will close 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. The issue includes a reservation of up to 346,021 shares for employees offered at a discount of Rs 27 to the issue price. Nuvama Wealth Management Limited, ICICI Securities Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers of the ACME Solar Holdings IPO, while Kfin Technologies Limited is the registrar for the issue. Refer to ACME Solar Holdings IPO RHP for detailed information.
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
- Largest renewable energy company with strong industry growth in the IPP business;
- End-to-end value chain and integrated approach to renewable energy project development through in-house project development, EPC and O&M teams;
- An expansive portfolio diversified across different renewable energy technologies;
- Long-term stable cash flows based on contracts with central and state government agencies;
- Access to diversified funding sources;
- Design and value engineering leading to greater efficiency; and
- Experienced promoters and management team
As of March 31, 2024, the company had 214 permanent employees in various departments.
Analysis of Acme Solar Holdings IPO
IPO Overview and Key Highlights
Acme Solar Holdings, a leader in solar energy solutions, is offering its Initial Public Offering (IPO) comprising a fresh issue of 82,907,630 equity shares and an Offer for Sale (OFS) of 17,474,048 equity shares, totaling 100,381,678 equity shares. The IPO aims to raise Rs 29,000 million, with proceeds designated for expanding renewable energy projects, debt repayment, and corporate purposes. Shares are proposed to be listed on the NSE and BSE?.
Key IPO Details
- Type of Issue: Book Built Issue
- Total Issue Size: 100,381,678 equity shares
- Face Value: Rs 2 per share
- Offer Price: Rs 289 per share
- Offer Opens: November 6, 2024
- Offer Closes: November 8, 2024
- Listing Exchange: NSE and BSE?.
Company Overview
Founded in 2015, Acme Solar Holdings is at the forefront of India's solar energy industry. The company operates extensive renewable energy projects and focuses on sustainable energy production. Promoters include Mamta Upadhyay, Manoj Kumar Upadhyay, Acme Cleantech Solutions, MKU Holdings, and Upadhyay Family Trust, bringing significant expertise in clean energy solutions?.
Financial Overview
The company has demonstrated robust financial performance, with increasing adoption of solar energy driving demand. IPO proceeds are set to fund project expansion, strengthen working capital, and repay debts, enhancing financial stability.
Key Strengths of Acme Solar Holdings
- Industry Leader: A dominant player in India's growing renewable energy sector.
- Strong Promoter Expertise: Experienced management ensures strategic growth.
- Focus on Sustainability: Aligns with global and domestic renewable energy goals?.
IPO Pros and Cons
Pros
- Sector Growth: India's renewable energy targets create opportunities for expansion.
- Use of Proceeds: Funds will directly support business growth and debt reduction.
- Government Support: Policies favoring solar energy adoption enhance market potential?.
Cons
- Capital Intensive: Renewable energy projects require significant upfront investments.
- Regulatory Challenges: Dependence on government incentives poses risks.
- Market Competition: Intense competition from other renewable energy players?.
Risk Factors
Potential investors should consider the following risks:
- Economic Sensitivity: Market conditions can impact energy demand and revenues.
- Project Delays: Timely execution of solar projects is critical for profitability.
- Regulatory Risks: Changes in energy policies could affect operations?.
Conclusion
The Acme Solar Holdings IPO presents a promising opportunity to invest in a key player within India's renewable energy sector. With experienced promoters and strong growth potential, the company is well-positioned to benefit from increasing solar energy adoption. However, investors should carefully evaluate risks related to project execution and regulatory dependencies before investing.
FAQs About Acme Solar Holdings Ipo
ACME Solar Holdings IPO will open on 06 Nov, 2024 and close on 08 Nov, 2024. Investors must apply within this period to participate.
The ACME Solar Holdings IPO price band is set between ₹275.00 and ₹289.00 per share. The minimum lot size is 51, requiring an investment of at least ₹14739.00.
The ACME Solar Holdings IPO shares are expected to be listed on 13 Nov, 2024, subject to regulatory approvals and final allotment.
You can track your ACME Solar Holdings IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The ACME Solar Holdings IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.