ACME Solar IPO Allotment Status Today on November 11; IPO Listing Soon

The ACME Solar Holdings IPO, which closed on November 8, has generated significant interest among investors across different categories, reflecting the company’s strong position in the renewable energy sector. 

With a robust total subscription of 2.89 times, the IPO saw particularly high demand from retail individual investors, who subscribed 3.25 times, while qualified institutional investors booked it 3.72 times. 

Following the announcement of the allotment on November 11, investors can check their allotment status through various platforms, including the KFin Technologies website and official BSE and NSE portals. 

IPO Overview and Key Figures

ACME Solar Holdings, one of India’s largest renewable energy companies, raised ₹5,085.02 crore from anchor investors, selling 130.38 million shares. 

The IPO sought to raise ₹2,900 crore in total, with ₹505 crore collected by selling promoter shares and ₹2,395 crore raised by offering fresh shares. Set within a price band of ₹275 to ₹289 per equity share, the issue provided investors with an attractive opportunity to gain exposure to a high-growth, eco-conscious enterprise.

Retail investors required a minimum application of 51 shares, equating to ₹14,739. For small non-institutional investors (NIIs), the minimum investment was 14 lots (714 shares), while big NIIs had a minimum investment requirement of 68 lots (3,468 shares).

This IPO process was managed by a group of top book-running lead managers (BRLMs) in the financial industry, including Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company, and Motilal Oswal Investment Advisors. KFin Technologies has served as the registrar, responsible for coordinating the allotment and managing investor details.

Key Performance Indicators

As of June 30, 2024, ACME Solar Holdings IPO presented a return on equity (ROE) of 2.93 and a high debt-to-equity ratio of 3.89, indicating significant leverage. 

As of June 30, 2024, the return on net worth (RoNW) was 0.07, and the price-to-book value (P/BV) ratio stood at 7.77, showing investor willingness to pay a premium. The company’s profit after tax (PAT) margin was modest at 0.41%, suggesting potential for improved profitability. 

Conclusion

With the ACME Solar IPO allotment status now available, investors can quickly check their status on the BSE or KFin Technologies websites. The listing on November 13 is expected to capture market attention.

For those interested in sustainable investing, ACME Solar offers an entry point into India’s growing solar power industry. Whether or not you were allotted shares, keep an eye on ACME Solar’s listing as it begins its journey on the stock exchanges. 

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.