ACME Solar's Chilly Market Debut: Shares Open at 13% Discount on NSE , share opens at ₹251!ACME Solar's Chilly Market Debut: Shares Open at 13% Discount on NSE , share opens at ₹251!

ACME Solar Holdings’ stock opened on the NSE at ₹251 per share, reflecting a 13.15% discount from the issue price of ₹289. The company’s market debut on November 13 was notably weak, with shares listing at a significant markdown.

ACME Solar Holdings Limited IPO closed with a 2.75x subscription on Day 3, reflecting solid demand. QIBs showed strong interest at 3.54x, with NIIs at 0.97x, RIIs at 3.10x, and Employees at 1.59x. This significant subscription level underscores investor confidence in ACME Solar’s business prospects.

ACME Solar Holdings Limited, a top renewable energy IPP in India, focuses on solar, wind, hybrid, and firm dispatchable projects, driving revenue from electricity sales since 2015. With 1,320 MW operational and 2,220 MW under construction, ACME’s FDRE projects ensure higher tariffs and capacity use. Strategic divestments of 1,379 MW solar projects have fueled further growth.

ACME Solar Holdings Ltd aims to use IPO proceeds to repay or prepay ₹150 crores in subsidiary debts, boosting financial stability and supporting corporate growth and strategic needs.