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ACME Solar IPO: An Overview of Upcoming IPO
ACME Solar Holdings Limited, a key player in India’s renewable energy sector, is set to make waves with its upcoming initial public offering (IPO). If you're an investor looking for opportunities in green energy, ACME Solar’s IPO could be an exciting option. In this article, we'll cover all the essential details, from the ACME Solar IPO date to its price band, objectives, and financial performance, along with a quick FAQ section to address common questions. So, let’s dive in!
ACME Solar IPO Details at a Glance
Here are the main details of the ACME Solar IPO that you need to know before investing:
- Issue Size: ₹2,900 crore
- Fresh Issue: ₹2,395 crore (8.29 crore shares)
- Offer for Sale: ₹505 crore (1.75 crore shares)
Important Dates for ACME Solar IPO
Planning to invest in the ACME Solar IPO? Mark these important dates on your calendar:
- ACME Solar IPO Open Date: November 6, 2024
- ACME Solar IPO Close Date: November 8, 2024
- Allotment Date: November 11, 2024
- ACME Solar IPO Listing Date: November 13, 2024 (on BSE and NSE)
ACME Solar IPO Price Band and Lot Size
The price range and lot size for the ACME Solar IPO have been announced, and here’s how they break down:
- Price Band: ₹275 to ₹289 per share
- Minimum Lot Size: 51 shares
- Minimum Investment for Retail Investors: ₹14,739
- sNII (Small NII): 14 lots (714 shares), totaling ₹206,346
- bNII (Big NII): 68 lots (3,468 shares), totaling ₹1,002,252
ACME Solar IPO Reservation Categories
The ACME Solar IPO has specific allocations for different investor categories:
- Qualified Institutional Buyers (QIB): At least 75% of the net issue
- Retail Investors: No more than 10% of the net issue
- Non-Institutional Investors (NII or HNI): No more than 15% of the net issue
Why is ACME Solar Going Public? (ACME Solar IPO Objectives)
The funds raised from the ACME Solar IPO will be used for the following purposes:
- Debt Repayment: ACME Solar plans to use a portion of the proceeds to repay or prepay certain borrowings availed by its subsidiaries, which will improve the financial health of the company.
- General Corporate Purposes: The remaining funds will go towards supporting the company’s operational and strategic needs.
ACME Solar Financial Performance
Let’s take a look at ACME Solar’s financial performance over recent years. The company has shown impressive growth in revenue and profitability, with a significant increase in profit after tax (PAT) between 2023 and 2024.
| Period Ended | Revenue (₹ Crore) | Profit After Tax (₹ Crore) | Total Borrowing (₹ Crore) |
|---|---|---|---|
| 30 June 2024 | 340.01 | 1.39 | 9,319.91 |
| 31 March 2024 | 1,466.27 | 697.78 | 8,217.59 |
| 31 March 2023 | 1,361.37 | -3.17 | 8,657.35 |
| 31 March 2022 | 1,562.73 | 62.01 | 7,563.60 |
Notably, ACME Solar's profit after tax rose by an astounding 22,084.28% from the previous year, signaling a significant turnaround in the company's financial health.
How to Apply for ACME Solar IPO?
- Open a Demat Account: If you haven’t already, you’ll need a Demat account to participate in any IPO.
- Decide on Investment Amount: Based on your budget, determine the number of lots you want to buy. Retail investors can start with a minimum of ₹14,739 for one lot.
- Submit Your Application: Apply through your stockbroker's platform or an online trading app.
- Check Allotment Status: The allotment date is November 11, 2024, and you’ll be notified if you receive ACME Solar shares.
Why Consider Investing in ACME Solar IPO?
There are a few reasons why the ACME Solar IPO could be an interesting investment opportunity:
- Renewable Energy Focus: With India shifting toward renewable energy, ACME Solar is well-positioned to benefit from this transition.
- Strong Financial Recovery: The company’s recent financials show a significant improvement in profitability, which could attract long-term investors.
- Reduced Debt: By using IPO proceeds to repay debt, ACME Solar aims to strengthen its balance sheet, potentially boosting investor confidence.
FAQs about ACME Solar IPO
1. When will the ACME Solar IPO open for subscription?
The ACME Solar IPO will open on November 6, 2024, and close on November 8, 2024.
2. What is the ACME Solar IPO price band?
The price band is set at ₹275 to ₹289 per share.
3. What is the minimum investment for retail investors?
Retail investors need to invest at least ₹14,739 for one lot of 51 shares.
4. How will ACME Solar use the IPO funds?
The funds will primarily go toward repaying debt and supporting general corporate purposes.
5. When will ACME Solar shares be listed?
ACME Solar shares are expected to list on November 13, 2024, on both the BSE and NSE.
6. Is investing in the ACME Solar IPO a good idea?
ACME Solar’s position in renewable energy and recent financial improvement make it an interesting choice. However, consider your financial goals and risk tolerance before investing.
Final Thoughts
The ACME Solar IPO represents an opportunity to invest in a company focused on India’s renewable energy future. Whether you’re a retail investor or an HNI, this IPO could offer exposure to a high-growth sector aligned with India’s sustainable goals. As always, evaluate your financial objectives and risk profile before making any investment decision.