ACME Solar Holdings made its debut on the National Stock Exchange (NSE) today, November 13, 2024, listing at ₹251 per share, which reflects a 13.15% discount from the upper end of its IPO price band. The initial public offering (IPO) faced a challenging start, with shares trading below the ₹275-₹289 per share issue price range.
ACME Solar IPO Details:
The ACME Solar Holdings IPO raised a total of ₹2,900 crore, consisting of a fresh issue of 8.29 crore shares, valued at ₹2,395 crore, and an offer for sale (OFS) of 1.75 crore shares, amounting to ₹505 crore. The IPO bidding window was open from November 6 to November 8, 2024, with allotments finalized on November 11, 2024.
Pricing and Investment Details:
The IPO was priced within a band of ₹275 to ₹289 per share, with a minimum lot size of 51 shares, requiring a retail investment of ₹14,739. For small non-institutional investors (sNII), the minimum investment was 14 lots (714 shares) amounting to ₹206,346, while large non-institutional investors (bNII) had a minimum investment requirement of 68 lots (3,468 shares), totaling ₹1,002,252. ACME Solar also reserved up to 346,021 shares for employees at a discount of ₹27 per share.
Despite the weaker-than-expected listing, ACME Solar’s IPO attracted significant investor interest, given its position within the renewable energy sector. The company will be closely watched for its market performance as it navigates the challenges and opportunities in the solar energy industry.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Please consult a financial advisor before making any investment decisions.
