ACME Solar Holdings’ IPO Oversubscribed by 2.75 Times
ACME Solar Holdings' IPO, aiming to raise INR 2,900 crore, has been oversubscribed by 2.75 times with the qualified institutional buyers leading with 3.54 times, followed by retail investors at 3.10 times. However, the non-institutional buyers portion remained undersubscribed at 0.97 times. The IPO is expected to be listed on November 13, 2024.
November 11, 2024. By Mrinmoy Dey
While the qualified institutional buyers portion was oversubscribed by 3.54 times, the retail portion was oversubscribed by 3.10 times. However, the non-institutional buyers portion was subscribed 0.97 times.
The allocation of shares is expected to be finalised on November 11, 2024. The IPO is expected to be listed on BSE and NSE on November 13, 2024.
The grey market price for the IPO indicates a flat response with nil premium.
ACME Solar attracted anchor investors, raising INR 1,300.5 crore through a pre-IPO placement on November 5.
The proceeds from this IPO will be used for paying back or partial repayments of some outstanding loans taken out by the subsidiaries of the company and for general corporate objectives.
The book-running lead managers of the ACME Solar Holdings IPO are Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company, and Motilal Oswal Investment Advisors. KFin Technologies is the registrar for this IPO.
Established in 2015, ACME Solar Holding is a renewable energy independent power producer (IPP). Its operational and under construction portfolio spans multiple technologies such as solar, wind, solar-wind hybrid, FDRE (including solar, wind and battery storage), and Pumped storage power projects (PSP).
The company develops, builds, owns, operates and maintains utility-scale renewable energy projects through its in-house engineering, procurement and construction (EPC) division and generates revenue through the sale of electricity to various off-takers including central and state government-backed entities.
please contact: contact@energetica-india.net.
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