ACME Solar Holdings’ INR 2900 Cr IPO to Open for Subscription on November 6, 2024
ACME Solar Holdings' IPO, aiming to raise INR 2,900 crore, will open for subscription on November 6, 2024, with a price band of INR 275-289 per share.
November 01, 2024. By Mrinmoy Dey
The company aims to raise INR 2,900 crore through this IPO. The offer consists of a new issue of shares worth INR 2,395 crore and an offer for sale component worth INR 505 crore by the promoter ACME Cleantech Solutions.
While at least 75 percent of shares in this IPO will be reserved for qualified institutional buyers, the allocation for non-institutional buyers and retail investors will be kept at about 15 percent and 10 percent respectively.
The proceeds from this IPO will be used for paying back or partial repayments of some outstanding loans taken out by the subsidiaries of the company and for general corporate objectives.
The allocation of shares is expected to be finalised on November 11, 2024. The IPO is expected to be listed on BSE and NSE on November 13, 2024.
The book-running lead managers of the ACME Solar Holdings IPO are Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company, and Motilal Oswal Investment Advisors. KFin Technologies is the registrar for this IPO.
Established in 2015, ACME Solar Holding is a renewable energy independent power producer (IPP). Its operational and under construction portfolio spans multiple technologies such as solar, wind, solar-wind hybrid, FDRE (including solar, wind and battery storage), and Pumped storage power projects (PSP).
The company develops, builds, owns, operates and maintains utility-scale renewable energy projects through its in-house engineering, procurement and construction (EPC) division and generates revenue through the sale of electricity to various off-takers including central and state government-backed entities.
please contact: contact@energetica-india.net.
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