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acme solar IPO GMP

Acme Solar India IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com
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  • GMP
  • Reviews
  • Subscription
  • Allotment

What is the latest news relating to Acme Solar IPO?   

Acme Solar will enter the capital market on 6th November and the IPO will close on 8th November 2024. The listing is expected on 13 November 2024

What is the latest GMP of Acme Solar IPO? 

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Acme SolarIPO Subscription Status

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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

Acme Solar IPO Details 

IPO opens on  6 November 2024 
IPO closes on  8 November 2024 
Issue Type Book Built Issue IPO
Issue Size 100346020 Shares /
Rs 2900 Crore
* Fresh Issue 82871972 Shares /
Rs 2395 Crore
* Offer for Sale  17474048 shares/
Rs.505 Crore
   
Face Value per share: Rs. 2
Price Band  Rs.275-289
Retail Discount  Rs 0 per share
Employee discount  Rs. 0 per share
Retail Lot Size  51 Shares
Listing will at  BSE, NSE

Shares offered in
Acme Solar?

Shares Rs. in Cr
QIB (75 %)  75259515 2175
NII (15 %)  15051903   435
RII (10 %)  10034602   290
Employees
Total Shares  100346020 2900
Retail portion will be oversubscribed by  ? Forms.
How to apply in Acme Solar IPO? Amount Rs.
Min Retail Application     51 Shares 14739
Max Retail Application    663 Shares 191607
Small HNI (Min) application  714  Shares 2-6346
Small HNI (Max) application 3417 Shares 987513
Big HNI Application 3468 Shares 1002252

What is the timetable of Acme Solar IPO?

IPO opens on 6 November 2024
IPO Closes on 8 November 2024
IPO Allotment on  11 November 2024
Unblocking of ASBA  12 November 2024
Credit of Shares 12 November 2024
Listing on 13 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

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 31.03.2024
Rs. 49.62    
BV after the FPO Rs. ?    
Offer Price at Cap Rs.  289    
Acme Solar IPO
Ratio Analysis
Price /EPS 23.03
Price/Book Value Ratio 5.82
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 23.03
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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Acme Solar IPO GMP grey market premium, review, Subscription, allotment, listing estimate

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