On Wednesday, 6 November, subscriptions for ACME Solar Holdings’ initial public offering (IPO), which aims to raise 2,900 crore, will open. Both a fresh issue and an offer for sale (OFS) are part of this capital offering; the IPO window ends on 8 November.
ACME Solar Price Band and Share Listing Timeline
The pricing range for the IPO is ₹275 to ₹289 per share. Share allocation is anticipated to be resolved on November 11 after the subscription period. According to the preliminary timeline, ACME shares are expected to go public on the NSE and BSE on November 13.
ACME Solar Grey Market Premium (GMP)
Shares of ACME Solar are currently trading 9.8% higher than the top price band on the grey market. Although it is still unofficial, the GMP, an informal trading indicator, provides an idea of expected listing performance.
One of India’s leading renewable energy companies, ACME Solar Holdings, specialises in producing power utilising solar and wind energy. Large-scale project development, building, ownership, operation, and maintenance are all part of ACME’s role as one of the nation’s biggest renewable energy suppliers. The corporation makes money by selling power, mostly to national and state government-supported plants.
IPO Objective: Reducing debt and corporate funding
The IPO’s proceeds will be used to settle some of the obligations that ACME’s subsidiaries have accrued. A portion of the money will also go towards general business requirements, which will support the company’s ongoing operations and projects.
Investment details for retail and NII investors
51 shares is the minimal application size for individual investors. This would require a ₹14,739 investment at the upper price range of ₹289 per share. Minimum investments for non-institutional investors (NIIs) vary; large NIIs require a minimum investment of ₹10,02,252, while small NIIs must invest at least ₹2,06,346.
Lead managers and registrar
Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company, and Motilal Oswal Investment Advisors are the issue’s principal book-running managers. As the IPO’s registrar, Kfin Technologies will be in charge of allocation and other administrative duties.
