ACME Solar Holdings Limited is an Indian company focused on the development, operation, and management of solar power projects. It is a part of the ACME Group, which is a leading player in the renewable energy sector, particularly in solar energy. ACME Solar is involved in large-scale solar power generation projects across India and contributes to the country’s clean energy transition.
Key Highlights:
- Industry: Renewable Energy (Solar Power)
- Focus: Development and operation of solar power plants
- Sector: Clean Energy, Solar Power Generation
- Geographic Presence: Primarily in India
- Part of: ACME Group
ACME Solar has been actively involved in scaling up solar energy infrastructure and is a significant player in India’s solar energy market, helping the country achieve its renewable energy goals.
ACME Solar Holdings IPO Details
| IPO Date | November 6, 2024 to November 8, 2024 |
| Listing Date | November 13, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹275 to ₹289 per share |
| Lot Size | 51 Shares |
| Total Issue Size | 100,346,022 shares (aggregating up to ₹2,900.00 Cr) |
| Fresh Issue | 82,871,973 shares (aggregating up to ₹2,395.00 Cr) |
| Offer for Sale | 17,474,049 shares of ₹2 (aggregating up to ₹505.00 Cr) |
| Employee Discount | Rs 27 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 522,207,910 |
| Share holding post issue | 605,079,883 |
ACME Solar Holdings IPO Reservation
ACME Solar Holdings IPO offers 100,346,021 shares. 30,000,000 (29.90%) to QIB, 15,000,000 (14.95%) to NII, 10,000,000 (9.97%) to RII, 346,021 (0.34%) to employees and 45,000,000 (44.84%) to Anchor investors. 196,078 RIIs will receive minimum 51 shares and 7,002 (sNII) and 14,005 (bNII) will receive minimum 714 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 45,000,000 (44.84%) | NA |
| QIB Shares Offered | 30,000,000 (29.90%) | NA |
| NII (HNI) Shares Offered | 15,000,000 (14.95%) | |
| bNII > ₹10L | 10,000,000 (9.97%) | 14,005 |
| sNII < ₹10L | 5,000,000 (4.98%) | 7,002 |
| Retail Shares Offered | 10,000,000 (9.97%) | 196,078 |
| Employee Shares Offered | 346,021 (0.34%) | NA |
| Total Shares Offered | 100,346,021 (100%) |
ACME Solar Holdings IPO Anchor Investors Details
ACME Solar Holdings IPO raises Rs 1,300.50 crore from anchor investors. ACME Solar Holdings IPO Anchor bid date is November 5, 2024.
| Bid Date | November 5, 2024 |
| Shares Offered | 45,000,000 |
| Anchor Portion Size (In Cr.) | 1,300.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 11, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 9, 2025 |
ACME Solar Holdings IPO Timeline (Tentative Schedule)
ACME Solar Holdings IPO opens on November 6, 2024, and closes on November 8, 2024.
| IPO Open Date | Wednesday, November 6, 2024 |
| IPO Close Date | Friday, November 8, 2024 |
| Basis of Allotment | Monday, November 11, 2024 |
| Initiation of Refunds | Tuesday, November 12, 2024 |
| Credit of Shares to Demat | Tuesday, November 12, 2024 |
| Listing Date | Wednesday, November 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 8, 2024 |
ACME Solar Holdings IPO Lot Size
Investors can bid for a minimum of 51 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 51 | ₹14,739 |
| Retail (Max) | 13 | 663 | ₹191,607 |
| S-HNI (Min) | 14 | 714 | ₹206,346 |
| S-HNI (Max) | 67 | 3,417 | ₹987,513 |
| B-HNI (Min) | 68 | 3,468 | ₹1,002,252 |
ACME Solar Holdings IPO Promoter Holding
The company’s promoters are Mamta Upadhyay, Manoj Kumar Upadhyay, ACME Cleantech Solutions Private Limited, MKU Holdings Private Limited, and Upadhyay Family Trust.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 83.41% |
ACME Solar Holdings Limited Financial Information (Restated Consolidated)
ACME Solar Holdings Limited’s revenue increased by 7.71% and profit after tax (PAT) rose by 22084.28% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| 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 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of ACME Solar Holdings IPO is Rs 17486.81 Cr.
KPI as of June 30, 2024.
| KPI | Values |
|---|---|
| ROE | 2.93 |
| Debt/Equity | 3.89 |
| RoNW | 0.07 |
| P/BV | 7.77 |
| PAT Margin (%) | 0.41 |