October 29, 2024
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Acme Solar India IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com
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What is the latest news relating to Acme Solar IPO?
The company is expected to enter the market in the first week of November.
Acme SolarIPO Subscription Status
Will update subscription status once the IPO opens for subscription.
Acme Solar IPO Allotment Link:
We will provide allotment link, once the allotment is finalised.
Who is the promoter of Acme Solar IPO?
The company’s promoters are Mamta Upadhyay, Manoj Kumar Upadhyay, ACME Cleantech Solutions Private Limited, MKU Holdings Private Limited, and Upadhyay Family Trust.
What are the Objects of Acme Solar IPO?
The Company proposes to utilize the Net Proceeds towards funding the following objects
1.Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by its Subsidiaries; and
2.General corporate purposes.
What is the business of Acme Solar?
Acme is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (“FDRE”) projects. It is one of the largest renewable energy independent power producers (“IPP”) in India and among the top 10 renewable energy players in India in terms of operational capacity as of March 31, 2024 and over the years, it has diversified and expanded its portfolio from solar power projects to become an integrated renewable energy company in India. It develops, builds, owns, operates and maintains utility scale renewable energy projects (through our in-house engineering, procurement and construction (“EPC”) division and operation and maintenance (“O&M”) team, and generate revenue through the sale of electricity to various off-takers including central and state government-backed entities.
The Company was established in 2015 to consolidate the ACME Group’s renewable energy business and to capitalize on the opportunities in the Indian renewable energy industry. The ACME Group is promoted by Manoj Kumar Upadhyay and ACME Cleantech was incorporated in 2003. The ACME Group has a track record of developing, executing and commissioning a total of 2,719 MW (3,668 MWp) of solar power projects from inception.
It has an aggregate Operational Project capacity of 1,320 MW (1,802 MWp) solar power projects; Under Construction Contracted Project capacity of 1,650 MW including solar power projects of 1,500 MW (2,192 MWp) and wind power projects of 150 MW; and Under Construction Awarded Project capacity of 2,380 MW comprising 300 MW of solar power projects, 830 MW hybrid power projects and 1,250 MW of FDRE power projects, as of March 31, 2024. Subsequently, in May 2024, it signed power purchase agreements for two of its under construction awarded FDRE projects with an aggregate capacity of 570 MW taking its Under Construction Contracted Project capacity to 2,220 MW, as of the date of this Draft Red Herring Prospectus. FDRE projects offer significantly higher tariffs and capacity utilization factors (“CUFs”) compared to pure-play solar and wind projects. With this expanding portfolio, it has enhanced its capabilities and product offerings and emphasized its commitment to sustainable energy development. This ensures that it remains responsive to evolving market dynamics while maintaining its presence as a key player in the renewable energy sector. It has also strategically divested certain solar power projects to investors delivering value to the shareholders, with a cumulative capacity of 1,379 MW (1,842 MWp) and used the proceeds from such sale to grow our business.
For more information, click https://www.acmesolar.in/
Acme Solar IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Acme Solar IPO Details |
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| IPO opens on | November 2024 |
| IPO closes on | November 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | – Shares / Rs 3000 Crore |
| * Fresh Issue | – Sh /Rs 2000 Cr |
| * Offer for Sale | ? shares/ Rs.1000 Crore |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. ? |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. ? per share |
| Retail Lot Size | ? Shares |
| Listing will at | BSE, NSE |
|
Shares offered in |
Shares | Rs. in Cr |
| QIB (75 %) | ? | ? |
| NII (15 %) | ? | ? |
| RII (10 %) | ? | ? |
| Employees | – | – |
| Total Shares | ? | ? |
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in Acme Solar IPO? | Amount Rs. | |
| Min Retail Application | ? Shares | ? |
| Max Retail Application | ? Shares | ? |
| Small HNI (Min) application | ? Shares | ? |
| Small HNI (Max) application | ? Shares | ? |
| Big HNI Application | ? Shares | ? |
|
What is the timetable of Acme Solar IPO? |
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| IPO opens on | November 2024 |
| IPO Closes on | November 2024 |
| IPO Allotment on | November 2024 |
| Unblocking of ASBA | November 2024 |
| Credit of Shares | November 2024 |
| Listing on | November 2024 |
| Registered Office of Acme Solar | |
| ACME Solar Holdings Limited Plot No. 152 Sector 44 Gurugram -22002 |
|
| Who are the Lead Managers of Acme Solar IPO? Nuvama Wealth Management Ltd ICICI Securities Ltd Jm Financial Ltd Kotak Mahindra Capital Company Ltd Motilal Oswal Investment Advisors ltd |
|
| Registrar to IPO | |
| KFin Technologies Limited |
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Acme Solar IPO Financial & Analytical Ratios |
||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2021-22 | 1563 | 62 | 1.12 | |
| 2022-23 | 1361 | (-)3 | (0.06) | |
| 2023-24 | 1466 | 689 | 12.55 | 26.95 |
| Book Value of the Share on 31.003.2024 |
Rs. | 49.62 | ||
| BV after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | ? | ||
| Acme Solar IPO Ratio Analysis |
|
| Price /EPS | ? |
| Price/Book Value Ratio | ? |
| Price/BV after IPO | ? |
How Acme Solar IPO compares with the Peers?
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Acme Solar | 2 | 1319 | |
| Adani Green Energy | 10 | 9220 | 289.90 |
| ReNew Energy Global | 10 | 8194 | 53.30 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Acme Solar IPO Review
We will update our Review & Guidance, once the price band and other details are announced by the company.
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