ACME Solar Holdings Limited
Book Built Issue IPO · NSE, BSE
- Price band
- ₹275 - ₹289
- Lot size
- 51 shares
- Issue amount
- ₹2,900 cr
- Total subscription
- 2.89×
- Opens
- 6 Nov 2024
- Closes
- 8 Nov 2024
- Allotment
- 11 Nov 2024
- Listing
- 13 Nov 2024
Offer at a glance
Issue overview
- Issue size
- 10,03,53,919 shares
- Face value
- ₹2 Per Share
- Minimum investment
- ₹14,025
- Fresh issue
- ₹2,395.04 cr
- Offer for sale
- ₹504.96 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,739
- Issue type
- Book Built Issue IPO
- Shares before issue
- 52,22,07,910
- Shares after issue
- 60,50,79,883
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 51 | ₹14,739 |
| sHNI | 14 | 714 | ₹2,06,346 |
| bHNI | 68 | 3,468 | ₹10,02,252 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 867 | 3,223.97 |
| RETAIL | 289 | 940.71 |
| HNIs 2+ | 144.5 | 179.44 |
| HNIs 10+ | 289 | 261.83 |
| EMPLOYEES | 10 | 18.5 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jul-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 0.03 | 12.55 | -0.06 |
| ROE | 2.93 | 38.83 | 25.34 |
| ROCE | 0 | 0 | 0 |
| RONW | 0.07 | 26.93 | -0.17 |
| PRE IPO(PE) | 21.9 | 0 | 0 |
| POST IPO(PE) | 3,147.37 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Incorporated in June 2015, ACME Solar Holdings Limited is a leading renewable energy producer in India, focused on developing, building, owning, operating, and maintaining large-scale solar and wind power projects through its in-house EPC and dedicated O&M teams. The company’s revenue is primarily generated through the sale of electricity to central and state government-backed off-takers. As of March 31, 2024, ACME Solar had 1,320 MW (1,802 MWp) of operational solar capacity, 1,650 MW of contracted under-construction projects (including 1,500 MW of solar and 150 MW of wind), and 2,380 MW of awarded under-construction capacity (comprising 300 MW solar, 830 MW hybrid, and 1,250 MW Fully Dispatchable Renewable Energy projects), reinforcing its significant presence in India’s renewable energy sector.
Strengths
- Leadership in Clean Energy: ACME Solar ranks among India’s largest independent renewable power producers, positioned to capitalize on the expanding green energy sector.
- Integrated Operations: Complete in-house control over project development, EPC, and O&M ensures efficient execution, quality maintenance, and minimal reliance on third parties.
- Balanced Renewable Portfolio: A well-diversified mix of solar, wind, hybrid, and FDRE projects mitigates risk and enables consistent returns across varying market conditions.
Risk factors
- Competitive Auction Pressure: The company’s growth is tied to success in renewable energy tenders; failure to secure projects at viable tariffs could hinder expansion and profitability.
- Dependence on PPAs: Heavy reliance on long-term power purchase agreements means that any cancellations, renegotiations, or unfavorable terms may disrupt revenue and cash flow stability.
- Revenue Concentration Risk: With 87–90% of revenue derived from the top 10 off-takers, any default or contract loss could significantly impact financial health.
Promoters
Mamta Upadhyay
Manoj Kumar Upadhyay
ACME Cleantech Solutions Private Limited
MKU Holdings Private Limited
Upadhyay Family Trust
Registrar & documents
Lead manager
Nuvama Wealth Management Limited, ICICI Securities Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot No. 152, Sector 44, Gurugram - 122002
+91 1247117000
[email protected]Company website ↗Understanding ACMESOLAR IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.