ACME Solar Holdings Limited’s debut on the stock market is scheduled to begin accepting public investments on Wednesday, November 6, and conclude on Friday, November 8. The green energy company has established a price range for its initial public offering (IPO) between ₹275 and ₹289 per share, each share being valued at ₹2.
The green energy firm generates power through projects harnessing both the sun and wind in India. ACME Solar focuses on creating, building, owning, and managing big-scale green energy initiatives. They make money by selling power to different clients, such as facilities backed by the federal and state governments.
ACME Solar plans to secure ₹2,900 crore through a new share issuance of ₹2,395 crore and an equity share sale valued at ₹505 crore, all managed by the company’s founder, ACME Cleantech Solutions Private Ltd.
ACME Solar Holdings IPO — 10 things to know
1. ACME Solar Holdings IPO Issue Size: The renewable energy company based in Gurugram plans to increase its capital by ₹2,900 crore through a new share issuance and an equity share purchase offer (OFS) segment. Each share in the offer is valued at ₹2. The initial number of shares available for purchase is 51, and subsequent offers will be available in groups of 51 shares.
2. ACME Solar Holdings IPO Issue Dates: The first stock sale is scheduled to begin accepting offers from the public on Wednesday, November 6, and will end on Friday, November 8.
3. ACME Solar Holdings IPO Listing Date: It is currently anticipated that the Initial Public Offering (IPO) will be assigned by Monday, November 11. The shares are expected to be made available on the NSE and BSE on Wednesday, November 13.
4. ACME Solar Holdings IPO Anchor Round: The green energy firm’s initial public offering (IPO) primary sale is scheduled for Tuesday, November 5.
5. ACME Solar Holdings IPO Price Band: The firm has established the price range for the general public’s share sale between ₹275 and ₹289 per share, with each share carrying a face value of ₹2.
6. ACME Solar Holdings IPO Basis of Allotment: The public sale includes a new issuance of shares valued at ₹2,395 and an equity share sale worth ₹505 crore by the seller of the company’s shares, ACME Cleantech Solutions Private Ltd.
7. ACME Solar Holdings IPO Reservation: The matter at hand has set aside a minimum of 75 percent of the shares in the matter for qualified institutional buyers (QIB), a maximum of 15 percent for non-institutional institutional investors (NII), and a maximum of 10 percent for individual retail investors. Additionally, the portion allocated to employees includes equity shares totaling up to ₹10 crore.
8. ACME Solar Holdings IPO Objective: The firm intends to allocate the funds collected through the public sale to either settle or fully pay off, in part or in full, the existing loans held by its subsidiaries, in addition to covering general business expenses, as outlined in the preliminary documents.
