Acme Solar Holdings, a company specializing in renewable energy through solar and wind, has set the price band for its IPO at ₹275 to ₹289 per equity share.
If you’re interested in investing in this IPO, you’ll need to wait until next week for it to open to the public.
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IPO Opening and Lot Size
The IPO for Acme Solar Holdings opens for the general public on November 6 and will close on November 8. For anchor investors, it will open a day earlier on November 5.
The minimum investment requires a purchase of at least one lot, which includes 51 equity shares.
IPO Allotment and Listing Timeline
The allotment of shares is expected to be completed by Monday, November 11. Investors who do not receive an allotment will get refunds by Tuesday, November 12.
The company’s shares are expected to be listed on the stock exchange by Wednesday, November 13.
About Acme Solar Holdings
Founded in June 2015, Acme Solar Holdings is an Indian electricity producer that focuses on renewable energy sources. It is one of the top electricity producers in India, generating power through both solar and wind energy.
The company sells electricity to a diverse range of customers, benefiting from both central and state government support.
IPO Structure and Purpose
The Acme Solar Holdings IPO aims to raise ₹2,900 crore, including a fresh issue of ₹2,395 crore and an offer for sale (OFS) of ₹505 crore by the promoter, ACME Cleantech Solutions Pvt Ltd.
The funds from this IPO will primarily be used to repay or prepay the loans taken by its subsidiaries.
Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital,
and Motilal Oswal Investment Advisors are the book-running lead managers for this IPO, with KFin Technologies serving as the registrar.