ACME Solar Holdings Limited
IPO Details
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Having completed its public offering, ACME Solar Holdings Limited's is now listed and trading on the NSE, BSE exchange as of Nov 13, 2024. The IPO raised cumulative capital of 10,03,53,919 Shares, including 8,28,79,871 Shares in primary capital infusion and ₹504.96 Cr in secondary market transactions.
The IPO was conducted with a price range of ₹275 to ₹289 and minimum investment requirement of 51 shares. subscription activity between Nov 06, 2024 and Nov 08, 2024 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on Nov 11, 2024 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in June 2015, ACME Solar Holdings Limited is a leading renewable energy producer in India, focused on developing, building, owning, operating, and maintaining large-scale solar and wind power projects through its in-house EPC and dedicated O&M teams. The company’s revenue is primarily generated through the sale of electricity to central and state government-backed off-takers. As of March 31, 2024, ACME Solar had 1,320 MW (1,802 MWp) of operational solar capacity, 1,650 MW of contracted under-construction projects (including 1,500 MW of solar and 150 MW of wind), and 2,380 MW of awarded under-construction capacity (comprising 300 MW solar, 830 MW hybrid, and 1,250 MW Fully Dispatchable Renewable Energy projects), reinforcing its significant presence in India’s renewable energy sector.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Leadership in Clean Energy: ACME Solar ranks among India’s largest independent renewable power producers, positioned to capitalize on the expanding green energy sector.
- Integrated Operations: Complete in-house control over project development, EPC, and O&M ensures efficient execution, quality maintenance, and minimal reliance on third parties.
- Balanced Renewable Portfolio: A well-diversified mix of solar, wind, hybrid, and FDRE projects mitigates risk and enables consistent returns across varying market conditions.
- Competitive Auction Pressure: The company’s growth is tied to success in renewable energy tenders; failure to secure projects at viable tariffs could hinder expansion and profitability.
- Dependence on PPAs: Heavy reliance on long-term power purchase agreements means that any cancellations, renegotiations, or unfavorable terms may disrupt revenue and cash flow stability.
- Revenue Concentration Risk: With 87–90% of revenue derived from the top 10 off-takers, any default or contract loss could significantly impact financial health.
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