ACME Solar Holdings
Listed
Listed
IPO Timeline
Issue open date
5 Nov 2024Issue close date
8 Nov 2024UPI mandate deadline
8 Nov 2024Allotment finalization
11 Nov 2024Refund initiation
12 Nov 2024Share credit
12 Nov 2024Listing date
13 Nov 2024Mandate end date
23 Nov 2024Lock-in end date for anchor investors (50%)
11 Dec 2024Lock-in end date for anchor investors (remaining)
9 Feb 2025Key Dates
Open
6 Nov 2024Close
8 Nov 2024Listing
13 Nov 2024Quick Stats
Issue Size:2900cr
Lot Size:51 shares
About the Company
ACME Solar Holdings Limited was established in 2015 to consolidate the ACME Group’s renewable energy business. It is a renewable energy company, specializing in solar, wind, hybrid, and firm and dispatchable renewable energy projects. It is one of the largest Independent Power Producers (IPP) in the country, with an operational capacity of 1,320 MW in solar projects and a significant pipeline of under-construction projects totalling 2,220 MW. The company focuses on developing, building, owning, operating, and maintaining utility-scale renewable energy projects while generating revenue through sales to government-backed entities.
Strengths
- ACME Solar Holdings has a comprehensive portfolio that includes solar, wind, hybrid, and firm and dispatchable renewable energy projects, making it one of the largest independent power producers in India.
- The ACME Group has been an early entrant in the solar IPP business in India. It commissioned its first solar power plant in Fiscal 2012 and has developed 2,719 MW of solar power projects.
- The company has established power purchase agreements that ensure revenue generation from various government-backed entities, securing its financial stability.
- The company has signed a memorandum of understanding with the Government of Uttar Pradesh for a significant closed-loop pump storage project, showcasing its growth strategy in renewable energy.
Risks
- The renewable energy sector is subject to regulatory changes that can impact project approvals, tariffs, and operational guidelines, introducing uncertainty into future earnings.
- The company’s revenue is significantly tied to government policies and incentives for renewable energy projects. Any changes in these policies could negatively affect profitability.
- The company depends on the top 10 off-takers, which contributed 89.97% of revenue from operations in 2024.
- ACME Solar does not have long-term agreements with suppliers and typically sources the required components through purchase orders.
ACME Solar Holdings IPO – Frequently Asked Questions
- The price band for the ACME Solar Holdings IPO is set at ₹275 to ₹289 per share.
- The ACME Solar Holdings IPO opens on November 6, 2024 and closes on November 8, 2024.
- The tentative listing date for the ACME Solar Holdings IPO is November 13, 2024.
- You can apply for the ACME Solar Holdings IPO via your broker or bank using ASBA or UPI. Log in to your trading app (Zerodha, Upstox, Groww, etc.), select IPO section, choose ACME Solar Holdings, enter lot quantity and UPI ID, then approve the mandate.
- The lot size for the ACME Solar Holdings IPO is 51 shares. Investors must apply for at least one lot (i.e., 51 shares).