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ACME Solar Holdings Share Price Highlights: Stock ends 1.6% higher after listing at 13% discount on NSE
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5 min read | Updated on November 13, 2024, 15:38 IST
SUMMARY
ACME Solar Holdings Share Price Highlights: ACME Solar Holdings shares listed at ₹251 aunit on the National Stock Exchange (NSE) on Wednesday, a 13% discount from the issue price of ₹289 apiece.
ACME Solar generates revenue by selling electricity to various off-takers, including government-backed entities.
- Current price: ₹252 (+0.4%)
- Issue price: ₹289
- Open: ₹251
- High: ₹276.1
- Low: ₹251
- Traded volume: 202.02 lakh
- Traded value: ₹538.29 crore
- Total market capitalisation: ₹15,520.50 crore
- Current price: ₹258 (+2.8%)
- Issue price: ₹289
- Open: ₹251
- High: ₹276.1
- Low: ₹251
The promoters of the company include ACME Cleantech Solutions Pvt Ltd, Manoj Kumar Upadhyay, Mamta Upadhyay, MKU Holdings Pvt Ltd, and the Upadhyay Family Trust.
Before listing, the promoters held a 100% stake in the company. After listing, their stake was reduced to 83.41%.
ACME Solar Holdings aims to use the net proceeds from its fresh issue to repay borrowings. It will also be used for general corporate purposes.
- Current price: ₹263 (+4.78%)
- Issue price: ₹289
- Open: ₹251
- High: ₹276.1
- Low: ₹251
The company's promoters are Manoj Kumar Upadhyay, Mamta Upadhyay, ACME Cleantech Solutions Pvt Ltd, MKU Holdings Pvt Ltd, and Upadhyay Family Trust.
Promoters currently hold a 100% stake in the company. Their stake will be reduced to 83.41% after the issue.
The book-running lead managers for the initial share sale are Nuvama Wealth Management, JM Financial, ICICI Securities, Kotak Mahindra Capital Company and Motilal Oswal Investment Advisors.
KFin Technologies is the registrar of the issue.
| Particulars | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue | ₹1,487 cr | ₹1,294 cr | ₹1,319 cr |
| Net Profit/Loss | ₹62 cr | ₹-3.17 cr | ₹698 cr |
ACME Solar Holdings IPO Listing LIVE: Shares of renewable energy company ACME Solar Holdings Ltd will make their stock market debut on Wednesday, November 13. The stock will be listed on NSE and BSE at 10 am.
The ₹2,900 crore initial share share, with a price band of ₹275 to ₹289 per share, had got bids for 16 crore shares against 5,82,03,223 shares on offer, translating to a total subscription of 2.75 times.
| Category | Number of Times Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 3.54 |
| Non-institutional Investors | 97% |
| Retail Individual Investors (RIIs) | 3.10 |
| Total | 2.75 |
The funds raised will be used to pay off debt and for general corporate purposes.
Prior to the IPO, the company had mobilised ₹1,300 crore from anchor investors.
ACME Solar Holdings IPO listing date and time
ACME Solar Holdings shares will be listed on the BSE and the NSE on Wednesday, November 13, at 10 am.
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