Acme Solar Holdings IPO
Acme Solar Holdings is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy projects. It is one of the largest renewable energy independent power producers in India and among the top 10 renewable energy players in India in terms of operational capacity as of March 31, 2024 and over the years, the company has diversified and expanded its portfolio from solar power projects to become an integrated renewable energy company in India. The company develops, builds, owns, operates and maintains utility scale renewable energy projects through its in-house engineering, procurement and construction division and operation and maintenance team, and generates revenue through the sale of electricity to various off-takers including central and state government-backed entities. The Company was established in 2015 to consolidate the ACME Group’s renewable energy business and to capitalize on the opportunities in the Indian renewable energy industry.
| Opening Date Wednesday, November 6, 2024 | Closing Date Friday, November 8, 2024 |
| Price Band ₹275 to ₹289 per share | Issue Size 100,346,022 shares (aggregating up to ₹2,900.00 Cr) |
| Face Value ₹2 per share | Market Lot 51 Shares |
| Listing at NSE,BSE | |
| IPO Open Date | Wednesday, November 6, 2024 |
|---|---|
| IPO Close Date | Friday, November 8, 2024 |
| Allotment Date | Monday, November 11, 2024 |
| Initiation Of Refunds | Tuesday, November 12, 2024 |
| Credit Of Shares To Demat Account | Tuesday, November 12, 2024 |
| IPO Listing Date | Wednesday, November 13, 2024 |
| UPI Mandate Expiry Date | 5 PM on November 8, 2024 |
Acme Solar Holdings IPO Strengths & Weakness
| Strengths | Weaknesses | ||
|---|---|---|---|
| Large renewable energy player well positioned to capitalize on strong industry tailwinds. | The company’s growth in renewable energy projects depends on winning competitive auctions and successfully executing current projects, without which the business may be adversely impacted. | ||
| End-to-end value chain capabilities and an integrated approach to developing renewable power projects by in-house project development, engineering, procurements, construction, operations and maintenance teams. | Company’s revenue relies on Power Purchase Agreements, which carry risks that could impact future results and cash flow. | ||
| Expansive portfolio diversified across different renewable energy technologies. | Business relies on top 10 off-takers for the majority of revenue; losing any could adversely impact financials and cash flow. | ||
| Committed Promoters and senior management team. | A limited buyer pool and potential PPA counterparty defaults could pose risks to business, operations, and cash flow. | ||
Financial Highlights
| Period Ended | 30 Jun 2024 (In Cr.) | 31 Mar 2024 (In Cr.) | 31 Mar 2023 (In Cr.) | 31 Mar 2022 (In Cr.) |
| Assets | 13,985.14 | 13,394.13 | 12,186.95 | 10,887.62 |
| Revenue | 340.01 | 1,466.27 | 1,361.37 | 1,562.73 |
| Profit After Tax | 1.39 | 697.78 | -3.17 | 62.01 |
| Net Worth | 1,942.12 | 2,590.87 | 1,900.56 | 1,908.76 |
| Reserves and Surplus | 1,837.68 | 1,836.43 | 1,146.12 | 1,154.32 |
| Total Borrowing | 9,319.91 | 8,217.59 | 8,657.35 | 7,563.60 |
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Frequently Asked Questions
What is the price band of the Acme Solar Holdings IPO?
The price band for the IPO is set between Rs. 275 and Rs. 289
What is the size of the Acme Solar Holdings IPO?
The issue size of the company is ₹2,900 crore.
What is the minimum lot size of Acme Solar Holdings IPO?
The minimum lot size for this IPO is 51 shares
What is the minimum investment required for the Acme Solar Holdings IPO?
The minimum investment required is ₹14,025