ACME Solar Holdings' Rs 2,900-crore IPO to close on Friday: Key things to know about public offer priced at Rs 275-289

ACME Solar Holdings IPO: ACME Solar Holdings' archetypal nationalist connection (IPO), estimated to beryllium worthy Rs 2,900 crore, is acceptable to participate the past time of bidding connected Friday, November 8. The IPO of ACME Solar Holdings, a Gurugram-headquartered renewable vigor company, is simply a operation of caller issuance of shares worthy up to Rs 2,395 crore and an connection for merchantability (OFS) aggregating up to Rs 505 crore by existing shareholders. The IPO-bound ACME Solar Holdings has established itself arsenic an integrated renewable vigor institution successful the country. 

Here's everything you request to cognize astir the ACME Solar IPO: 

ACME Solar IPO Subscription Update

By 4:18 p.m. connected Thursday, the 2nd time of the three-day bidding process, ACME Solar Holdings' IPO received bids for 3.88 crore shares against the 5.82 crore shares connected offer, translating to a subscription of 66.7 per cent, according to provisional speech data.

ACME Solar Holdings IPO | Issue terms & batch size

Under the IPO, ACME Solar Holdings shares are disposable for bidding successful a terms scope of Rs 275-289 per portion successful multiples of 51 shares. 

This translates to Rs 14,025-14,739 per lot.

In different words, imaginable investors volition person to ammunition retired up to Rs 14,739 per batch for bidding.   

ACME Solar Holdings IPO | Listing date

The ground of allotment for the IPO is apt to beryllium finalised connected November 11.

The ACME Solar Holdings banal volition beryllium listed connected bourses BSE and NSE tentatively connected November 13. 

ACME Solar Holdings IPO | Objective

According to ACME Solar's reddish herring prospectus (RHP), the institution aims to utilise the proceeds from the caller information towards clearing oregon reducing definite borrowings availed by its subsidiaries and for wide firm purposes.

ACME Solar Holdings IPO | Should you subscribe to it?

Bajaj Broking recommends subscribing to the contented for the agelong term. 

The brokerage believes the contented is aggressively priced. 

The asking terms translates to a a price-to-earnings ratio of 25.06 based connected ACME Solar Holdings' net for FY24, which looked similar an exceptional twelvemonth for the company, according to Bajaj Broking.

"However, the institution has shown inconsistent apical and bottommost lines implicit the reported periods. Its debt-to-equity ratio of 3.89, arsenic of June 30, 2024, is notably precocious and raises concerns," according to the brokerage. 

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