ACME Solar IPO

Nov 6, 2024 Credit: Acme Solar

Gurugram-based ACME Solar’s initial public offering (IPO) is now open and will close on Friday, November 8. Credit: iStock

Price band

ACME Solar has fixed a price band of ₹275 to ₹289 per share for its public issue. Credit: Unsplash

About the company

ACME Solar is a Gurugram-based renewable energy company that produces electricity from wind and solar energy. Credit: Canva

IPO size

ACME Solar is looking to raise ₹2,900 crore from the current IPO. This includes a fresh issue of ₹2,395 crore and an offer for sale (OFS) component of ₹505 crore. Credit: iStock

Lot size

Investors can bid for a minimum of 51 shares and in multiples of 51 shares thereafter. Credit: Unsplash

Current operations

ACME Solar currently has an operational project capacity of 1,320 MW in solar projects. The company has a contracted project capacity of 1,650 MW, which includes 1,500 MW of solar power projects and 150 MW of wind power projects. Credit: iStock

Financials

The company’s income was ₹1,466.27 crore in FY24, up from ₹1,361.37 crore in FY23. The company reported a profit of ₹697.78 crore in FY24, up from ₹3.17 crore loss reported in FY23. Credit: iStock

Risk factors

The company is engaged in a highly competitive industry and depends on power purchase agreements with other companies. Credit: iStock

ACME Solar IPO GMP

ACME Solar is currently commanding a grey market premium (GMP) of ₹10 per share. Credit: iStock

IPO

The funds raised will be used for repayment of borrowings and for general corporate purposes. Credit: iStock

Disclaimer

The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, and registered advisors for professional and personalised financial advice. Credit: Canva