ACME Solar Holdings IPO Listing Date: What you need to know before it hits NSE and BSE

ACME Solar IPO: Subscription

The IPO was subscribed 2.75 times, receiving bids for 16 crore shares against 5.82 shares on offer, as per the cumulative data available on the NSE portal.

From the investor's category, the qualified institutional buyers (QIBs) quota mopped up 3.54 times the subscription, while the retail investors portion fetched 3.10 times the subscription. The part reserved for non-institutional investors (NIIs) received a 97% subscription.

ACME Solar IPO: Objective

The Gurugram-based company intends to raise ₹2,900 crore via a fresh issue of shares amounting to ₹2,395 crore and an offer-for-sale (OFS) worth ₹505 crore.

The money raised will be used to the tune of ₹1,795 crore for debt repayment, and a remaining for general corporate purposes.

ACME Solar IPO: Listing date and time

Shares of ACME Solar Holdings Ltd will be listed on the NSE and the BSE on Wednesday, November 13, at 10 a.m.

ACME Solar IPO: Financials

In the financial year 2023-24, the company reported a revenue of ₹1,319 crore, compared to ₹1,294 crore in the previous fiscal year. The firm posted a net profit of ₹698 crore in FY24, against a net loss of ₹3.17 crore in FY23.

In FY22, ACME Solar's net profit and revenue stood at ₹1,487 crore and ₹62 crore, respectively.

The company builds, operates and maintains utility-scale renewable energy projects and generates revenue by selling electricity to various off-takers, including government-backed entities.