ACME Solar Holdings Limited IPO Highlights
ACME Solar Holdings Limited, is going to launch its IPO. Its opening date is yet to be announced. This is going to be a book built issue. Through its first public offering (IPO), the company aims to collect about ₹3000 crores. The IPO will be a mixture of fresh issue of * equity shares having a face value of ₹2 per share and an Offer for Sale worth ₹1000 crore. The price band of ACME Solar Holdings Limited IPO is between ₹* to ₹ *
ACME Solar Holdings Limited IPO Detail
| IPO Opening and Closing Date | November 6, 2024 to November 8, * 2024 |
| IPO Price Range | ₹ 275 to ₹ 289 Per Share |
| Face Value of Share | ₹ 2 Per Share |
| Net Issue Size Offered | 100346022 Equity Shares amounting up to ₹2900 Cr. |
| Fresh Issue | 82871973 Equity Shares amounting up to ₹2395 Cr. |
| Offer For Sale | 17474049 Equity Shares amounting up to ₹505 Cr. |
| Listing at | BSE & NSE |
| Issue Type | Book Built Issue IPO |
| IPO DRHP | Click Here |
| IPO RHP | Click Here |
ACME Solar Holdings Limited IPO, Tentative Date Schedule
| IPO Opening Date | 6 November, 2024 |
| IPO Closing Date | 8 November, 2024 |
| Allotment Date | 11 November, 2024 |
| Refund Initiation | 12 November, 2024 |
| Credit of Shares in Demat Account | 12 November, 2024 |
| Listing Date | 13 November, 2024 |
The ACME Solar Holdings issue will open on 6 November. 2024 and it will close on 8 November, 2024. The allotment of shares will be finalized on 11 November, 2024. The listing date of on both BSE as well as NSE is fixed as 13 November, 2024.
ACME Solar Holdings Limited IPO GMP Today
ACME Solar Holdings Limited IPO GMP today is ₹00 as of 5 November, 2024.
Company’s Financial Standing
| Period | Financial Year 2024 | Financial Year 2023 | Financial Year 2022 |
| Total Assets | ₹13394.13 | ₹12186.95 | ₹10887.62 |
| Total Revenue | ₹1466.27 | ₹1361.37 | ₹1562.73 |
| Total Expense | 1305.49 | 1416.21 | 1789.86 |
| EBITDA | 1089.19 | 1172.59 | 1240.32 |
| Profit After Tax | ₹689.26 | ₹-3.17 | ₹62.01 |
| Company’s Net Worth | 1956.99 | 1862.43 | 1843.09 |
| Total Reserve & Surplus | ₹1836.86 | ₹1146.12 | ₹1154.32 |
Company Key Performance Indicators
| Key Performance Indicators | Value |
| ROCE | % |
| ROE | 38.84% |
| Price to Book Value | * |
| Total Borrowings (% of Total Capital) | % |
| Return on Net Worth | 26.95% |
| Debt Equity Ratio | 2.66% |
| After Tax Profit Margin (%) | 47.62% |
| Net Asset Value | ₹49.62 |
Lot Size for Different Category of Investors:
| Application | Lot | Number of Shares | Amount (in ₹) |
| Retail Investor (Min. Lot) | 1 | 51 | ₹14739 |
| Retail Investor (Max Lot) | 13 | 663 | ₹191607 |
| Small HNI (Min. Lot) | 14 | 714 | ₹206346 |
| Small HNI (Max. Lot) | 67 | 3417 | ₹987513 |
| Big HNI (Min. Lot) | 68 | 3468 | ₹1002252 |
Retail investors are eligible to submit bids for a minimum of 1 lot, containing 51 shares, amounting to ₹14739. On the other hand small HNI can apply for minimum of 14 lots comprising of 663 shares amounting to ₹191607. The maximum limit for applying in this issye for small HNI is 67 lot comprising of 3417 shares amounting to ₹987513.
Reserve Quota for Different Category of Investors
| Shares Reserved for Institutional Investors | 75% of the Total Issue |
| Shares Reserved for Non Institutional Investors | 15% of the Total Issue |
| Shares Reserved for Retail Individual Investors | 10% of the Total Issue |
Net Cash Flow Overview
| Net Cash Flow | For the Year Ended March, 2024 | For the Year Ended March, 2023 | For the Year Ended March, 2022 |
| Cash From Operating Activities | ₹14288.03 | ₹12634.83 | ₹9549.62 |
| Cash from Investing Activities | ₹-17246.73 | ₹-14099.16 | ₹-3740.59 |
| Cash From Financing Activities | ₹2148.34 | ₹2154.26 | ₹5558.08 |
State wise Revenue Generation
| Particulars | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
| Andhra Prdesh | 1994.78 | 1989.05 | 1901.77 |
| Rajasthan | 3719/98 | 2499.85 | 2215.27 |
| Telangana | 2625.84 | 2598.06 | 4146.85 |
| Total | 8340.60 | 7086.96 | 8263.89 |
Rating By CRISIL
| Rating Agency | Rating | Financial Year |
| CRISIL | A1 | 2024 |
| CRISIL | A1 | 2023 |
| CRISIL | A1 | 2022 |
Objectives of the Proposed Issue
- To repay or prepay the borrowings
2. To meet General Corporate Purposes
Peer Group Comparative Analysis:
| Company | EPS (₹) | P/E | Face Value (₹) |
| Adani Green Energy Ltd | 6.21 | 289.9 | ₹10 |
| Renew Energy Global | 9.94 | 55.3 | ₹10 |
Average PE Ratio of Industry
| P/E Ratio Metrics | P/E Ratio |
| Highest P/E Ratio | 289.9 |
| Lowest P/E Ratio | 52.3 |
| Average P/E Ratio | 172.6 |
Strengths and Weaknesses of ACME Solar Holdings
Strengths
- ACME Solar Holdings has a Long-term contracts with government institutions. It helps the company to get consistent income and thereby reducing the market risks.
- The company operates with an efficient team of experts, which helps to manage project cost efficiently.
- Its energy projects cover solar, wind, and hybrid, therefore enough flexibility is there to meet local demands.
- An experienced management team brings strong industry expertise.
- The company is a major player in India’s renewable energy sector.
Weaknesses
- The company depends on government policies which may not always in company’s favour.
- Renewable energy depends on conditions like sunlight and wind, and it makes operations unpredictable.
- Rising competition from both established and new companies.
- The company faces payment delays.
Management & Promoter Group
- MKU Holdings Private Limited
- Upadhyay Family Trust
- ACME Cleantech Solutions Private Limited
- Mamta Upadhyay
- Manoj Kumar Upadhyay
Company’s Dividend Policy
The company has not paid any dividend from last three financial years
Lead Managers of ACME Solar Public Offering
- Kotak Mahindra Capital Company Limited
- Motilal Oswal Investment Advisors Limited
- Nuvama Wealth Management Limited (formerly Edelweiss Securities Limited)
- JM Financial Limited
- ICICI Securities Limited
Registrar of ACME Solar Holdings Issue
KFin Technologies Limited.
Telephone: +91 40 6716 2222 / 1800 309 4001
Email: acmesolar.ipo@kfintech.com
Website: www.kfintech.com
Contact Details of Company
Plot No. 252, Sector 44,
Gurugram 122002,
Haryana, India.
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Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Nisus Finance Services IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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