The investors will be able to subscribe for the solar energy company 'ACME Solar Holdings' initial public offering on Wednesday, November 6.
Issue size and price band
The company has set the price range for the Rs 2,900 crore issue, which will end on November 8, at Rs 275 to Rs 289 per share.
IPO structure
The IPO includes an offer-for-sale (OFS) component of Rs 505 crore by promoter ACME Cleantech Solutions, as well as a new offering of shares valued at Rs 2,395 crore.
Subscription and listing timetable
Subscriptions for the ACME Solar Holdings IPO will open on November 6, and after the bidding process ends on November 8, on November 11, 2024, the share allocation status of ACME Solar Holdings is anticipated to be finalised.
On the same day, unsuccessful bidders will begin receiving their refunds. On November 12, shares will be moved to the allottees' Demat accounts. The NSE and BSE are expected to list ACME Solar Holdings' initial public offering (IPO) on November 13.
Registrar and book-running lead manager
The book-running lead managers of the ACME Solar Holdings IPO are Nuvama Wealth Management Limited, ICICI Securities Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited, and Motilal Oswal Investment Advisors Limited.The issue's registrar is Kfin Technologies Limited.
Projects under belt
The company has 1,340 megawatts (MW) of solar projects in total operating project capacity, 3,250 MW of contracted projects under construction, and 1,730 MW of awarded projects under construction.
Company financials
In contrast to the previous fiscal year's loss of Rs 3.17 crore, the company reported a profit of Rs 697.8 crore in the fiscal year 2023-24 (FY24).
Operational revenue climbed 1.9 per cent year over year (YoY) to Rs 1,319.3 crore in FY24.
Offerings of company
The company creates, constructs, owns, runs, and maintains utility-scale renewable energy projects. It makes money by selling electricity to different off-takers, including organisations supported by the federal and state governments.
