ACME Solar Holdings IPO, one of the upcoming IPO in India, opened for subscription on November 6, 2024, and will close on November 8, 2024.
The share allotment is expected to be finalised on November 11, 2024. The shares are expected to be listed on November 13, 2024, on NSE and BSE.
ACME Solar Holdings IPO is a book-built issue valued at ₹2,900 crore. It contains a fresh issue of 8.29 crore shares, of ₹2,395 crore, and an offer for sale of 1.75 crore shares, amounting to ₹505 crore.
The IPO price band is set between ₹275 and ₹289 per share. The minimum application lot size of 51 shares. Retail investors need to make a minimum investment of ₹14,739.
As of 10:57 AM on November 7, 2024, ACME Solar Holdings IPO GMP stands at ₹0.
The company plans to use the net proceeds towards the investment in their subsidiaries for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by their subsidiaries and for general corporate purposes.
ACME Solar Holdings Ltd is one the largest renewable energy independent power producers (IPP) in India. The company’s portfolio consists of solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects. ACME Solar Holdings is ranked as one of India’s top 10 renewable energy companies by operational capacity (as of June 30, 2024). It develops, constructs, owns, operates, and maintains large-scale renewable projects. The company generates its revenue through electricity sales to a range of off-takers, including central and state-backed entities. The company also manages engineering, procurement, and construction (EPC) and operation and maintenance (O&M) functions through its in-house teams.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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