ACME Solar Holdings Limited’s initial public offering (IPO), which opened on November 6, 2024, received a subscription of 0.39 times by the end of the first day, according to data available at 5:00 PM. The IPO is scheduled to close on November 8, 2024.
Day 1 Subscription Details:
- Qualified Institutional Buyers (QIBs): 0.15 times
- Non-Institutional Investors (NIIs): 0.32 times
- Retail Individual Investors (RIIs): 1.19 times
- Employees: 0.60 times
Retail investors have shown significant interest, with the retail portion subscribed 1.19 times on the first day.
IPO Details:
- Issue Size: ₹2,900 crore
- Fresh Issue: ₹2,395 crore
- Offer for Sale (OFS): ₹505 crore
- Price Band: ₹275 to ₹289 per share
- Lot Size: 51 shares
- Minimum Investment: ₹14,739
- Listing: Shares are proposed to be listed on BSE and NSE
- Book Running Lead Managers: Nuvama Wealth Management Limited, ICICI Securities Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and Motilal Oswal Investment Advisors Limited
- Registrar: Kfin Technologies Limited
ACME Solar Holdings Limited is a prominent player in India’s renewable energy sector, focusing on developing, owning, and operating large-scale renewable energy projects. The company aims to utilize the net proceeds from the fresh issue to repay or prepay certain outstanding borrowings of its subsidiaries and for general corporate purposes.
Investors can apply for the IPO until November 8, 2024. The finalization of the basis of allotment is expected by November 11, 2024, with refunds initiated on November 12, 2024. Shares are anticipated to be credited to demat accounts by November 12, 2024, and the listing is tentatively scheduled for November 13, 2024.
