ACME Solar IPO Description – ACME Solar is a renewable energy company with a diverse portfolio of solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects. The company develops, builds, owns, operates, and maintains utility-scale renewable energy projects through its EPC division and operations and maintenance (O&M) team. It generates revenue by selling electricity to off-takers, including central and state government-backed entities.
As of 2 July 2024, ACME Solar has commissioned 2,719 MW of solar power projects since its inception. The company currently operates solar power projects with an aggregate capacity of 1,320 MW. Additionally, it has contracted projects under construction totaling 1,650 MW, including 1,500 MW of solar power projects and 150 MW of wind power projects. It also has an awarded project pipeline under construction amounting to 2,380 MW, comprising 300 MW of solar power projects, 830 MW of hybrid power projects, and 1,250 MW of FDRE power projects, as of 31 March 2024.
Furthermore, ACME Cleantech (subsidiary) has signed a memorandum of understanding with the Government of Uttar Pradesh to develop a 600 MW closed-loop pump storage project in the state through ACME Urja Two Private Limited, the project’s special purpose vehicle (SPV). As of 31 March 2024, the company employs 214 permanent staff members.
Promoters of ACME Solar – Ms. Mamta Upadhyay, Mr. Manoj Kumar Upadhyay, ACME Cleantech Solutions Private Limited, MKU Holdings Private Limited, and Upadhyay Family Trust
Table of Contents
ACME Solar IPO Details
| ACME Solar IPO Dates | 6 – 8 November 2024 |
| ACME Solar Issue Price | INR 275 – 289 per share (Employee Discount – INR 27 per share) |
| Fresh issue | INR 2,395 crore |
| Offer For Sale | INR 505 crore |
| Total IPO size | INR 2,900 crore |
| Minimum bid (lot size) | 51 shares (INR 14,739) |
| Face Value | INR 2 per share |
| Retail Allocation | 10% |
| Listing On | NSE, BSE |
ACME Solar Holdings Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 | Q1 FY 2025 |
| Revenue | 1,487.90 | 1,294.90 | 1,319.25 | 309.64 |
| Expenses | 1,789.86 | 1,416.21 | 1,305.49 | 289.76 |
| Net income | 62.01 | (3.17) | 697.78 | 1.39 |
| Margin (%) | 4.17 | (0.24) | 52.89 | 0.45 |
ACME Solar Offer News
- ACME Solar Anchor Investors
- ACME Solar RHP
- ACME Solar DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
ACME Solar Holdings Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 1.19 | (0.06) | 13.36 | 11.53 |
| PE Ratio | – | – | 20.58 – 21.63 | 23.85 – 25.06 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 3.25 | (0.17) | 26.93 |
| NAV | 36.55 | 36.39 | 49.61 |
| EBITDA (%) | 83.36 | 90.55 | 82.56 |
| Debt/Equity | 3.56 | 3.85 | 2.66 |
ACME Solar IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 12 November 2024 | 5 | – | 0 |
| 11 November 2024 | 10 | – | 400 |
| 9 November 2024 | 10 | – | 400 |
| 8 November 2024 | 10 | – | 400 |
| 7 November 2024 | 15 | – | 500 |
| 6 November 2024 | 20 | – | 700 |
| 5 November 2024 | 25 | – | 1,200 |
| 4 November 2024 | 25 | – | 1,200 |
ACME Solar IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by its subsidiaries – INR 1,795 crore
- General corporate purposes
ACME Solar – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| ACME Solar | 23.85 – 25.06 | 11.53 | 26.93 | 49.61 | 1,319.25 |
| Adani Green Energy | 291.7 | 6.20 | 7.22 | 85.86 | 9,220.00 |
| ReNew Energy Global | 48.8 | 9.92 | 3.07 | 332.16 | 8,194.80 |
ACME Solar IPO Dates & Listing Performance
| IPO Opening Date | 6 November 2024 |
| IPO Closing Date | 8 November 2024 |
| Finalization of Basis of Allotment | 11 November 2024 |
| Initiation of refunds | 12 November 2024 |
| Transfer of shares to demat accounts | 12 November 2024 |
| ACME Solar IPO Listing Date | 13 November 2024 |
| Opening Price on NSE | INR 251 per share (down 13.15%) |
| Closing Price on NSE | INR 253.15 per share (down 12.40%) |
ACME Solar IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi –
Antique Stock Broking –
Ajcon Global –
Bajaj Capital – Subscribe for long term
Axis Capital – Not rated
Ashika Research –
BP Wealth – Subscribe
Capital Market – May Apply
Canara Bank Securities – Subscribe
Choice Broking –
Dalal & Broacha –
Elara Capital –
Elite Wealth –
GCL Broking –
Geojit –
GEPL Capital – Subscribe
Hem Securities –
Hensex Securities –
HDFC Securities –
ICICIdirect –
IDBI Capital –
Investmentz –
Indsec Securities –Â
Jainam Broking – Subscribe for long term
KR Choksey –
JM Financial – Not rated
Marwadi Financial – Subscribe
Motilal Oswal –
Mehta Equities –
Nirmal Bang –
Reliance Securities –
Sushil Finance –
Samco Securities – Not rated
SBI Securities – Subscribe for long term
SMC Global – 2/5
SMIFS –
Systematix Research – Not rated
Swastika Investmart – Subscribe for long term
Ventura Securities – Subscribe
ACME Solar Offer Lead Manager
NUVAMA WEALTH MANAGEMENT LIMITED
801-804, Wing A, Building No 3, Inspire BKC,
G Block, Bandra Kurla Complex, Bandra East,
Mumbai – 400 051
Phone:Â +91 22 4009 4400
Email:Â [email protected]
Website: www.nuvama.com
ACME Solar Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel:Â +91 40 6716 2222
E-mail:Â [email protected]
Website:Â www.kfintech.com
ACME Solar Contact Details
ACME SOLAR LIMITED
Plot No. 152, Sector 44, Gurugram 122 002,
Haryana, India
Phone: +91 124 7117000
Email: [email protected]
Website: www.acmesolar.in
ACME Solar IPO FAQs
How many shares in ACME Solar IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply for ACME Solar Public Offer?
The best way to apply for ACME Solar’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is ACME Solar IPO GMP today?
ACME Solar IPO GMP today is INR 5 per share.
What is ACME Solar kostak rate today?
ACME Solar kostak rate today is INR NA per application.
What is ACME Solar Subject to Sauda rate today?
ACME Solar Subject to Sauda rate today is INR NA per application.
