IPO of this solar company is coming soon in India

ACME Solar Holdings, a prominent solar energy firm, has launched its IPO in India. The bidding process commenced on November 6 and concluded on November 8, witnessing a full subscription. The total bids received were 2.75 times the shares available.

Retail investors oversubscribed their portion by 3.10 times, while non-institutional buyers and qualified institutional buyers subscribed at rates of 0.97 times and 3.54 times, respectively. The price band for the IPO is set between ₹275-289 per share, with a face value of ₹2. Currently, shares are trading at zero premium in the gray market, indicating a possible listing near the IPO price.

Know the details of IPO

This IPO is a book-built issue aiming to raise ₹2,900 crore, comprising a fresh issue of 8.29 crore shares worth ₹2,395 crore and an offer for sale of 1.75 crore shares worth ₹505 crore. Allotments are expected to be finalized on November 11, with listings on NSE and BSE anticipated on November 13.

Expert advice for investment

Brokerage firms endorse a ‘subscribe’ recommendation for ACME Solar Holdings IPO, highlighting attractive valuations and a favorable P/E ratio of 23.03x. The company is positioned to benefit from growth in the independent power producer (IPP) market, making it a compelling investment opportunity.

Learn about ACME Solar Holdings

ACME Solar Holdings is a significant entity in India’s renewable energy landscape, managing a diverse portfolio of solar and wind projects. With 1,340 MW of operational solar capacity and 3,250 MW under construction, the company is well-established in the market, contributing to India’s green energy goals.

Disclaimer: Consult with experts before making any investment decisions.

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Summary at glance

ACME Solar Holdings, a prominent player in India’s renewable energy sector, has launched its IPO, which opened for bidding on November 6 and was fully subscribed by November 8. The IPO, valued at ₹2,900 crore, saw retail investors oversubscribing their portion by 3.10 times. Priced between ₹275-289 per share, it aims to repay borrowings and support corporate needs. Experts recommend subscribing to the IPO, highlighting ACME’s strong market position and growth potential.

Superfast News Coverage by DelhiBreakings.com team.

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