ACME Solar IPO subscription starts on 6 November 2024 and will close on 8 November 2024. ACME Solar plans to raise around INR 2,900 crores via the IPO. The price band is fixed at INR 275 – 289 per share with an employee discount of INR 27 per share. The ACME Solar IPO market lot has 51 shares, and the minimum application amount is INR 14,739. The retail quota is 10%, QIB is 75%, and NII is 15%.
Check ACME Solar IPO Subscription Status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find ACME Solar IPO Subscription Status segregated by days and investor categories.
ACME Solar IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Emp | Total |
|---|---|---|---|---|---|
| Shares Offered | 3,15,27,272 | 1,57,63,636 | 1,05,09,090 | 4,03,225 | 5,82,03,223 |
| 8 Nov 2024 | 3.54 | 0.97 | 3.10 | 1.59 | 2.75 |
| 7 Nov 2024 | 0.31 | 0.56 | 2.04 | 0.98 | 0.70 |
| 6 Nov 2024 | 0.15 | 0.32 | 1.19 | 0.60 | 0.39 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
ACME Solar – Business Background
Incorporated in June 2015, ACME Solar Holdings is one of India’s largest independent power producers (IPPs) in the renewable energy sector, specializing in solar and wind energy projects. The company has developed a significant operational capacity of 1,320 MW in solar projects and has contracted capacities totaling 1,650 MW, which includes both solar and wind projects. As of fiscal 2024, it has awarded project capacities under construction amounting to 2,380 MW, demonstrating robust growth in renewable energy capacity.
Business Operations
ACME Solar focuses on the entire lifecycle of renewable energy projects:
- Development and Construction: Engaging in large-scale solar and wind projects.
- Ownership and Operation: Managing operational efficiency through an in-house engineering, procurement, and construction (EPC) division.
- Maintenance: Ensuring long-term operational success through dedicated operations and maintenance (O&M) teams.
The company generates revenue primarily through long-term power purchase agreements (PPAs) with government-backed entities, which provide stable cash flows with an average residual PPA term of approximately 19.94 years.
Read Also: Swiggy IPO SWOT Analysis
Investor Categories in ACME Solar IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of ACME Solar IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. If the IPO-bound company does not fulfill this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
Read Also: Avanse Financial IPO GMP, Price, Date, Allotment
ACME Solar IPO Subscription Status FAQs
When will the ACME Solar IPO subscription start?
ACME Solar IPO subscription starts on 6 November and ends on 8 November 2024.
How to subscribe to ACME Solar IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will ACME Solar IPO be listed?
ACME Solar IPO will be listed on 13 November 2024, at the BSE and NSE stock exchanges.
