ACME Solar Holdings IPO Gains Momentum as GMP Rises by ₹60 Ahead of First day opening IPO

New Delhi, November 6, 2024 — ACME Solar Holdings’ Initial Public Offering (IPO) has garnered robust market enthusiasm, with the Grey Market Premium (GMP) witnessing a surge of ₹60. The IPO, which opened for subscription today, is a book-built issue with a total offering size of ₹2,900 crore, marking one of the significant entries into the market in recent months.

The IPO is a mix of a fresh issue of 8.29 crore equity shares totaling ₹2,395 crore, alongside an offer for sale of 1.75 crore shares valued at ₹505 crore. The price band for ACME Solar Holdings IPO is set at ₹275 to ₹289 per share, reflecting the company’s strong position within the renewable energy sector. Subscriptions will remain open from November 6 to November 8, 2024.

 

Market experts note that the increase in GMP highlights investor confidence in ACME Solar Holdings’ growth prospects and its role in driving India’s solar energy initiatives. The allotment of shares is scheduled for November 11, 2024, with a tentative listing date on the BSE and NSE set for November 13, 2024.

 

Key Highlights of the ACME Solar Holdings IPO:

 

•    IPO Size: ₹2,900 crore (Fresh Issue: ₹2,395 crore; Offer for Sale: ₹505 crore)

•    Price Band: ₹275 to ₹289 per share

•    Lot Size: Minimum of 51 shares, requiring a retail investment of ₹14,739

•    Investment Requirement for sNII and bNII: sNII minimum at 714 shares (₹206,346) and 

bNII minimum at 3,468 shares (₹1,002,252)

•    IPO Timeline: Opens on November 6, closes on November 8, 2024

•    Expected Allotment Date: November 11, 2024

•    Tentative Listing Date: November 13, 2024 on BSE and NSE

 

The IPO has already attracted significant attention from both retail and institutional investors, underscoring ACME Solar Holdings’ appeal in the clean energy space. The rise in GMP further solidifies ACME Solar Holdings’ position as a promising addition to the stock market, as it aims to accelerate India’s renewable energy infrastructure and sustainability goals.

For further details on ACME Solar Holdings IPO, visit https://www.acmesolar.in