ACME Solar Holdings Ltd, a leading player in renewable energy, launched its IPO on November 6, 2024. With shares priced between ₹275 and ₹289, ACME aims to raise ₹2,900 crore, mainly through a fresh issue of shares. This article reviews ACME’s subscription status, grey market trends, and advice from market experts to help you decide if ACME Solar Holdings is the right addition to your portfolio.
Key IPO Details
| Details | Information |
|---|---|
| GMP | ₹10 premium in the grey market |
| Price Range | ₹275 to ₹289 per share |
| Issue Size | ₹2,900 crore (Fresh issue: ₹2,395 crore, OFS: ₹505 crore) |
| Subscription Dates | November 6 to November 8, 2024 |
| Allotment Date | November 9, 2024 |
| Listing Date | Expected November 13, 2024 |
| Lead Managers | ICICI Securities, JM Financial, Kotak Mahindra, others |
Subscription Update
After day one of the IPO:
- Retail Subscription: 1.19 times subscribed
- Non-Institutional Investors (NII): 0.32 times subscribed
- Qualified Institutional Buyers (QIB): 0.15 times subscribed
- Overall Subscription: 0.39 times subscribed
Should You Invest in ACME Solar’s IPO?
ACME Solar Holdings has established a promising track record in the renewable energy sector. Despite a dip in profitability in previous fiscal years, recent growth in revenue and profit margins has encouraged positive recommendations. Canara Bank Securities suggests long-term investment potential for those interested in renewable energy, citing ACME’s extensive project pipeline and anticipated benefits from rising renewable energy tariffs.
Swastika Investmart notes the company’s high debt-to-equity ratio and recommends a cautious approach, advising only long-term investors with a tolerance for volatility to participate.
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Expert Insight
As the world transitions to cleaner energy, ACME Solar’s expansion aligns with global trends. However, the debt levels may pose risks, making this IPO suitable for those with a long-term outlook in the green energy sector.
Disclaimer
This article serves as a general information source and is not financial advice. Consult a financial expert before making investment decisions.
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