ACME Solar Holdings IPO opens on Nov 6: Check price band, issue size, key dates and all you need to know

The IPO consists of a new offering of shares worth ₹2,395 crore and an offer-for-sale (OFS) component of ₹505 crore by promoter ACME Cleantech Solutions.

The company will use fresh issue proceeds to clear debt and serve general corporate purposes.

The bidding for anchor investors will take place on Tuesday, November 5, according to the red herring prospectus (RHP) document.

ACME Solar Holdings IPO: Key dates

ACME Solar Holdings' share allotment status is likely to be finalised on November 11, 2024. Refunds for unsuccessful bidders will be initiated on the same day. Shares will be transferred to the Demat account of allottees on November 12. ACME Solar Holdings IPO listing date is likely to be November 13 on the NSE and the BSE.

ACME Solar Holdings IPO: About the company

ACME Solar Holdings is a renewable energy company with a portfolio of wind, solar, hybrid, firm, and dispatchable renewable energy (FDRE) projects.

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

The company has an aggregate operational project capacity of 1,340 megawatts (MW) solar projects, an under-construction contracted project capacity of 3,250 MW, and an under-construction awarded project capacity of 1,730 MW.

ACME Solar Holdings IPO: Financials

In the financial year 2023-24 (FY24), the company reported a profit of ₹697.8 crore, compared to a loss of ₹3.17 crore in the previous fiscal.

Revenue from operations increased 1.9% year-on-year (YoY) to ₹1,319.3 crore in FY24.