ACME Solar Holdings IPO - Day 1 Subscription at 0.30 Times

ACME Solar Holdings initial public offering (IPO) has received moderate investor interest on its opening day. The IPO witnessed cautious demand, resulting in a 0.30 times subscription by 2:15:11 PM on day one. This initial response indicates measured investor sentiment towards ACME Solar Holdings' shares at the start of the subscription period.

The IPO, which opened on 6th November 2024, has seen varied participation across categories. The Retail Investors segment has shown relatively better interest, followed by moderate participation from Employees, while Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) have shown limited participation in the initial hours.

This measured response to ACME Solar Holdings' IPO comes amid ongoing sentiment in the Indian stock market, particularly towards companies in the renewable energy sector. The company's position as one of India's largest producers of electricity from wind and solar energy appears to have attracted initial cautious investor interest.

Subscription Status of ACME Solar Holdings IPO for Day 1:

Here are the subscription details for ACME Solar Holdings IPO as of Day 1 (6th November 2024, 2:15:11 PM):

Total Applications: 1,55,324

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights: 

• Currently,overall subscription reached 0.30 times on Day 1, showing cautious initial response.
• Retail investors demonstrated strong interest with 0.97 times subscription.
• Employees showed moderate interest with 0.55 times subscription.
• Small Non-Institutional Investors (sNII) showed limited interest with 0.18 times subscription.
• Qualified Institutional Buyers (QIB) showed minimal interest with 0.16 times subscription.
• Large Non-Institutional Investors (bNII) showed limited participation at 0.07 times.
• Total applications reached 1,55,324 on the opening day.
• The subscription trend indicates a cautious opening-day response across most categories.

Also read Growth Potential of ACME Solar Holdings IPO

About ACME Solar Holdings Limited

ACME Solar Holdings Limited, incorporated in June 2015, is one of India's largest producers of electricity from wind and solar energy sources. The company specialises in development, construction, ownership, operation, and maintenance of large-scale renewable energy projects through its in-house engineering, procurement and construction (EPC) division and operations and maintenance (O&M) team. As of 31st March 2024, the company operated with a total operational project capacity of 1,320 MW in solar power projects, along with a contracted project capacity of 1,650 MW and an additional 2,380 MW of awarded projects under construction. The company employs 214 permanent employees across various departments.

Highlights of the ACME Solar Holdings IPO

• IPO Date: November 6, 2024 to November 8, 2024
• Listing Date: November 13, 2024 (Tentative)
• Face Value: ₹2 per share
• Price Band: ₹275 to ₹289 per share
• Lot Size: 51 Shares
• Total Issue Size: 100,346,022 shares (aggregating up to ₹2,900.00 Cr)
• Fresh Issue: 82,871,973 shares (aggregating up to ₹2,395.00 Cr)
• Offer for Sale: 17,474,049 shares (aggregating up to ₹505.00 Cr)
• Employee Discount: ₹27 per share
• Issue Type: Book Built Issue IPO
• Listing At: BSE, 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