ACME Solar’s IPO Launch: What Investors Need to Know

byPriyanka JuyalLast Updated: November 5, 2024
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Synopsis: 
  1. ACME Solar's Holdings Limited IPO Subscription Dates: Opens on November 6 and closes on November 8.
  2. Price Band: Set between ₹275 to ₹289 per equity share.
  3. Funds Raised: Aims to collect ₹2,900 crore for operational needs.
  4. Allocation: 75% of shares reserved for institutional buyers, 15% for non-institutional investors, and 10% for retail investors.
  5. Listing Date: Shares expected to be listed on November 13.

ACME Solar Holdings Limited is gearing up to open its initial public offering (IPO) for public subscription on Wednesday, November 6, and it will remain open until Friday, November 8. The company has set a price band for the IPO ranging from ₹275 to ₹289 per equity share, with each share having a face value of ₹2.

ACME Solar is a key player in the renewable energy sector in India, generating electricity from both solar and wind projects. The company focuses on developing, constructing, owning, operating, and maintaining large-scale renewable energy installations. Its revenue primarily comes from selling electricity to various customers, including those supported by government initiatives.

Through this IPO, ACME Solar aims to raise a total of ₹2,900 crore, which includes a fresh issue of ₹2,395 crore and an offer-for-sale (OFS) of ₹505 crore by its promoter, ACME Cleantech Solutions Private Ltd.

Key Details About ACME Solar’s Holdings Limited IPO 

ACME Solar’s IPO is being managed by prominent financial institutions, including Nuvama Wealth Management Ltd, ICICI Securities Ltd, and others, with Kfin Technologies Ltd serving as the registrar for this offering.

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