ACME Solar Holdings IPO

Last Updated: 08 November 2024 6:45 PM by 5Paisa

ACME Solar Holdings IPO is set to open on 06 November 2024 and will close on 08 November 2024. ACME Solar Holdings is a leading renewable energy producer in India, specialising in power generation from wind and solar energy.

The IPO is a combination of a fresh issue of 8.29 Cr shares aggregating to ₹2,395 Cr and an offer for sale of 1.75 Cr shares aggregating to ₹505 Cr. The price range is set between ₹275 to ₹289 per share and the lot size is  shares. 

The allotment is scheduled to be finalised on 11 November 2024. It will go public on BSE, NSE, with a tentative listing date of 13 November 2024.

Nuvama Wealth Management Ltd, ICICI Securities Ltd, JM Financial Ltd, Kotak Mahindra Capital Company Ltd and Motilal Oswal Investment Advisors Ltd are the book running lead managers while Kfin Technologies Ltd is the registrar. 
 

1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by Subsidiaries.
2. General corporate purposes.
 

Incorporated in June 2015, ACME Solar Holdings Limited is a leading renewable energy producer in India, specialising in power generation from wind and solar energy. The company is one of the largest players in the renewable energy sector in India, committed to producing clean, sustainable power.

ACME Solar develops, builds, owns, operates, and maintains large-scale renewable energy projects across the country. This is achieved through its in-house engineering, procurement, and construction (EPC) division, along with a dedicated operation and maintenance (O&M) team, ensuring efficiency and reliability in its projects. The company’s revenue is derived from selling electricity to a range of off-takers, including entities backed by both central and state governments, ensuring long-term stability.

As of March 31, 2024, ACME Solar’s operational project capacity in solar power stood at 1,320 MW (1,802 MWp). The company also has an under-construction contracted capacity of 1,650 MW, consisting of 1,500 MW (2,192 MWp) in solar projects and 150 MW in wind power projects. In addition, its awarded project pipeline under construction includes 2,380 MW, which comprises 300 MW in solar, 830 MW in hybrid, and 1,250 MW in FDRE power projects, demonstrating the company’s expanding footprint in the renewable energy sector.

ACME Solar’s competitive strengths lie in its position as one of the largest independent power producers (IPPs) in renewable energy in India. The company’s integrated approach to project development leverages its in-house EPC and O&M teams, enabling it to cover the entire value chain in renewable project execution. Its portfolio is diverse, spanning various renewable technologies, and is backed by long-term, stable cash flows from contracts with government-backed entities. The company benefits from diversified funding sources, advanced design capabilities, and value engineering, which lead to higher operational efficiencies. ACME Solar is also supported by a seasoned team of promoters and senior management with extensive experience in the renewable energy industry.

As of March 31, 2024, ACME Solar employed 214 permanent staff across various departments, all contributing to the company’s mission of advancing renewable energy in India.

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