Through a book-building process and a new issue, ACME Solar Holdings Limited’s eagerly awaited initial public offering (IPO) has demonstrated encouraging investor participation. As it approaches its closing day on November 8, the IPO has already attracted 70% subscription by the end of Day 2, demonstrating robust investor interest.
Out of the 5.82 crore shares available, bids for 4.05 crore shares have been received as of November 7. The most passionate group was retail investors, who oversubscribed by 2.04 times the number of shares they were allotted. Qualified Institutional Buyers (QIBs) contributed 31% of their piece, while Non-Institutional Investors (NIIs) came in second with 56% of their portion. These subscriber numbers demonstrate strong support for ACME Solar’s renewable energy company and its potential for industry expansion.
Public bidding for the IPO window, which began on November 6, is still open through Friday, November 8. On November 5, ACME Solar secured a noteworthy ₹1,300.50 crore from anchor investors ahead of the IPO, demonstrating strong pre-IPO support. With a lot size of 51 shares and prices ranging from ₹275 to ₹289 per share, the offer gives investors access to a major participant in the renewable energy market.
ACME Solar IPO GMP Update
The issue is now trading without any premium on the informal market, as evidenced by the IPO’s grey market premium (GMP) of zero as of November 7. Potential listing gains and investor sentiment are both gauged by the GMP.
Detailed IPO Structure and Company Insights
Qualified Institutional Buyers (QIBs) will get 75% of ACME Solar’s IPO shares, followed by Non-Institutional Investors (NIIs) at 15% and retail investors at 10%. The purpose of this distribution is to draw in a wide variety of investors.
Large-scale solar project design, implementation, and maintenance are the activities of ACME Solar, a major participant in India’s renewable energy market. With 18 ongoing projects, or 85% of its operating capacity, ACME Solar has a significant operational footprint in states including Andhra Pradesh, Rajasthan, and Telangana. The firm contributes to India’s energy transformation by providing sustainable energy to clients supported by the government and the state through its Engineering, Procurement, and Construction (EPC) division and Operation and Maintenance (O&M) teams.
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