ACME Solar Holdings Limited is coming up with an IPO consisting of a fresh issue of 8.29 crore shares worth INR 2,395.00 crores and an offer to sell 1.75 crore shares worth INR 505.00 crores. The company aims to repay subsidiary borrowings and utilize funds for general corporate purposes.
ACME Solar Holdings IPO – Important Dates
| ACME Solar Holdings Limited IPO Date | November 6, 2024 to November 8, 2024 |
| ACME Solar Holdings Limited IPO Listing Date | November 13, 2024 |
| ACME Solar Holdings Limited IPO Price | INR 275-289 per share |
| ACME Solar Holdings Limited IPO Lot Size | NA |
| ACME Solar Holdings Limited IPO Total Issue Size | INR 2,900 crores |
| ACME Solar Holdings Limited IPO Basis of Allotment | November 11, 2024 |
| ACME Solar Holdings Limited IPO Initiation of Refunds | November 12, 2024 |
| ACME Solar Holdings Limited IPO Credit of Shares to Demat | November 12, 2024 |
| ACME Solar Holdings Limited IPO Issue Type | Book Built Issue IPO |
| ACME Solar Holdings Limited IPO Listing At | BSE NSE |
Read more about ACME Solar Holdings Limited IPO GMP
ACME Solar Holdings Limited IPO – Company Profile
ACME Solar Holdings Limited is a leading renewable energy IPP in India, specializing in solar, wind, hybrid, and firm dispatchable projects, developing and maintaining utility-scale projects while generating revenue from electricity sales since 2015.
With an operational capacity of 1,320 MW, under-construction projects total of 2,220 MW, including solar, hybrid, and firm dispatchable renewable energy projects, reflect significant growth in renewable energy capacity as of May 2024.
FDRE projects provide higher tariffs and capacity utilization, enhancing capabilities and product offerings. Strategic divestments of 1,379 MW solar projects have generated shareholder value and funded further business growth in the renewable energy sector.
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ACME Solar Holdings Ltd IPO Fundamental Analysis
ACME Solar Holdings Limited’s financial analysis reveals a mixed performance. Revenue decreased initially but improved in the following year. Profit after tax and earnings per share rose significantly, reflecting strong profitability and growth in financial position.
- Revenue Trend: The revenue decreased from ₹14,879.02 millions in March 2022 to ₹12,949.04 millions in March 2023. The revenue for the current year’s 12-month period ending March 2024 is INR 13,192.502 millions.
- Equity and Liabilities: Liabilities have shown a consistent increase over the periods, reflecting potential growth and expansion.
- Profitability: The profit after tax (PAT) has significantly increased from ₹620.10 millions in March 2022 to ₹6,982.27 millions by March 2024. This improvement in profitability could be a source of confidence among investors.
- Earnings per Share (EPS): The diluted EPS has risen from ₹1.12 in March 2022 to ₹12.55 by March 2024, reflecting higher earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has increased from 3.25% to 26.95%, indicating an increase in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth.
ACME Solar Holdings IPO Financial Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 March 2024 |
| Revenue (₹ in millions) | 14,879.02 | 12,949.04 | 13,192.502 |
| Equity (₹ in millions) | 20,091.55 | 19,304.62 | 25,912.98 |
| Expenses (₹ in millions) | 17,898.63 | 14,162.10 | 13,054.86 |
| Profit and Loss After Tax (₹ in millions) | 620.10 | (31.74) | 6,982.27 |
| Diluted EPS only (₹) | 1.12 | (0.06) | 12.55 |
| Return on Net Worth (%) | 3.25 | (0.17) | 26.95 |
| NAV per Equity Share (₹) | 36.55 | 36.39 | 49.62 |
| Total Assets (in millions) | 108,867.17 | 121,869.53 | 133,941.26 |
| Total Liabilities (in millions) | 88,775.62 | 102,564.91 | 108,028.28 |
ACME Solar Holdings Limited IPO Peer Comparison
ACME Solar Holdings Limited shows substantial revenue and earnings per share, while Adani Green Energy Limited demonstrates a high price-to-earnings ratio and significant return on net worth. ReNew Energy Global PLC also reflects impressive performance metrics.
| Company | Revenue from Operations (₹ in millions) | Face Value per Equity Share (₹) | P/E Ratio | EPS (Basic) (₹) | EPS (Diluted) (₹) | RoNW (%) | NAV (₹ in millions) |
| ACME Solar Holdings Limited | 13,192.50 | 2 | – | 12.55 | 12.55 | 26.95 | 49.62 |
| Adani Green Energy Limited | 92,200 | 10 | 289.9x | 6.21 | 6.20 | 7.19 | 85.86 |
| ReNew Energy Global PLC | 81,948 | 10 | 55.3x | 9.94 | 9.92 | 3.07 | 332.16 |
ACME Solar Holdings Ltd IPO Objective
The main objective of ACME Solar Holdings Limited is to facilitate the repayment or prepayment of certain outstanding borrowings incurred by its subsidiaries, enhancing financial stability and operational efficiency.
- Repayment/prepayment, in whole or in part, of certain outstanding borrowings availed by their Subsidiaries: The company intends to utilize INR 150 crores from the net proceeds for the repayment or prepayment of outstanding borrowings by subsidiaries, aiming to reduce debt, lower servicing costs, and enhance future financing capacity.
- General corporate purposes: The company will deploy the balance of funds for general corporate purposes, including funding growth opportunities, supporting business development initiatives, addressing ongoing contingencies, and pursuing other strategic objectives as needed.
ACME Solar Holdings IPO Risks And Challenges
ACME Solar Holdings Limited’s risk includes navigating competitive bidding for renewable energy projects, potential penalties from government PPAs, and reliance on critical off-takers, where any financial deterioration could significantly impact its business and cash flows.
- The company aims to expand its renewable energy portfolio by participating in competitive bidding for projects while navigating changing auction rules, increasing transmission costs, and uncertainties in tender processes that may influence project awards.
- The company primarily engages in long-term PPAs with government entities, facing potential penalties for project delays. Terminating these agreements could harm its reputation and financial performance, affecting future project opportunities and revenue.
- The company relies heavily on critical off-takers for revenue, with top clients contributing significantly. Any deterioration in their financial conditions or loss of essential relationships could adversely impact the company’s business and cash flows.
ACME Solar Holdings Ltd IPO – Industry & Market Potential
As of March 2024, India experienced an overall growth in installed generation capacity, reaching approximately 442 GW, including an addition of about 98 GW from Fiscal 2018 to 2024, equating to a CAGR of 4.3%.
India’s installed generation capacity increased from 356 GW in Fiscal 2019 to approximately 442 GW in Fiscal 2024, with expectations of reaching over 660-670 GW by Fiscal 2029, driven by renewable energy growth and other capacity additions.
Under the Paris Agreement, India aims to generate 40% of its electricity from non-fossil fuels by 2030, establish 450 GW of renewable energy capacity, and provide 1.7 million solar pumps to farmers through the Pradhan Mantri-Kusum Yojana.
ACME Solar Holdings Limited IPO – Type of Offer
ACME Solar Holdings Limited plans a fresh issue of shares, seeking INR 2,395 crores to repay outstanding loans and general corporate needs. Additionally, the company proposes an offer to sell 1.75 crores of existing shares.
- Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 2,395 crores. The company intends to utilize the proceeds from the fresh issue for the prepayment of certain outstanding borrowings availed by the company and general corporate purposes.
- Offer for sale: ACME Solar Holdings Limited is offering to sell 1.75 crore existing shares. The following are the details of the existing shareholders who are also the promoters selling the shares:
| Name of the promoter selling shareholder | Maximum number of offered shares for sale |
| ACME Cleantech Solutions Private Limited | 2,525 |
ACME Solar Holdings IPO Offer Size
The offer size of ACME Solar Holdings Limited is INR 2,900 crores, consisting of a fresh issue of shares worth INR 2,395 crores and an offer to sell shares of INR 505 crores. The company aims to repay subsidiary borrowings and utilize funds for general corporate purposes.
ACME Solar Holdings Limited IPO Allotment Structure
ACME Solar Holdings Limited’s allocation will be as follows: 75% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 10% for Retail Individual Investors (RII) according to SEBI regulations.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 75% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 10% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
How to apply for ACME Solar Holdings IPO?
To apply for the ACME Solar Holdings Limited IPO through Alice Blue, follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the ACME Solar Holdings Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the ACME Solar Holdings Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check ACME Solar Holdings IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the ACME Solar Holdings Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the ACME Solar Holdings Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, we request you reach out to our customer support team at Alice Blue for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the ACME Solar Holdings Limited IPO:
● Registrar’s Website: Visit the website of KFin Technologies Limited, the registrar of the ACME Solar Holdings Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● BSE NSE: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) National Stock Exchange (NSE). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
ACME Solar Holdings Ltd IPO Offer Registrar
The registrar for the ACME Solar Holdings Limited IPO is KFin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
KFin Technologies Limited Selenium,
Tower-B, Plot No. 31 and 32 Financial
District Nanakramguda, Serilingampally
Hyderabad 500 032 Telangana, India
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
ACME Solar Holdings IPO – FAQs
1. What is ACME Solar Holdings IPO?
ACME Solar Holdings Limited is coming up with an IPO consisting of a fresh issue of 8.29 crore shares worth INR 2,395.00 crores and an offer to sell 1.75 crore shares worth INR 505.00 crores. The company aims to repay subsidiary borrowings and utilize funds for general corporate purposes.
2. What is the allotment date of the ACME Solar Holdings IPO?
The allotment date of the ACME Solar Holdings Limited IPO is November 11, 2024.
2. What is the price band of the ACME Solar Holdings IPO?
The price band of the issue is INR 275-289 per share.
3. What is the size of the ACME Solar Holdings IPO?
The offer size of ACME Solar Holdings Limited is INR 2,900 crores, consisting of a fresh issue of shares worth INR 2,395 crores and an offer to sell shares of INR 505 crores. The company aims to repay subsidiary borrowings and utilize funds for general corporate purposes.
4. What is the listing date of the ACME Solar Holdings IPO?
The listing date of ACME Solar Holdings Limited’s IPO is November 13, 2024.
5. Where is the ACME Solar Holdings Ltd IPO Getting Listed?
ACME Solar Holdings is getting listed at the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
6. What Are the open and close dates of the ACME Solar Holdings Limited IPO?
The open and close dates of ACME Solar Holdings Limited are November 6, 2024, and November 8, 2024, respectively.
7. How To Apply For ACME Solar Holdings IPO in Alice Blue?
To apply for the ACME Solar Holdings Limited IPO through Alice Blue, follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the ACME Solar Holdings Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the ACME Solar Holdings Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
8. Who Are The Book Runners For The ACME Solar Holdings Limited IPO? The Book Runners for ACME Solar Holdings Limited are Nuvama Wealth Management Limited, ICICI Securities Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited and Motilal Oswal Investment Advisors Limited.
