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ACME Solar Holdings Limited

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Offer Period :

ACME Solar Holdings, one of India's largest solar Independent Power Producers (IPPs), operates a portfolio of solar projects totaling 2,351 MWp. They develop, build, own, Read more...operate, and maintain grid-connected solar projects, selling electricity to government entities, aiming for capital efficiency through advanced PV technology and cost-effective project management. Read less

ACME Solar Holdings Limited IPO Details

IPO Date - Minimum Investment ₹ / Lots
Listing Date Maximum Investment ₹ / Lots
Face Value ₹0 per share Total Issue Size ₹0 Crores
Price ₹0 to ₹0 per share Fresh Issue ₹0 Crores
Lot Size 1 Lots (0 Shares) Offer For Sale ₹ 0
Listing At Retail Discount ₹ 0
Employee Discount ₹0 per share    
IPO Date -
Listing Date
Face Value ₹0 per share
Price ₹0 to ₹0 per share
Lot Size 1 Lots (0 Shares)
Listing At
Employee Discount ₹0 per share
Minimum Investment ₹ / Lots
Maximum Investment ₹ / Lots
Total Issue Size ₹0 Crores
Fresh Issue ₹0 Crores
Offer For Sale
Retail Discount ₹ 0

Timeline

Important dates for allocation and IPO listing.

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IPO Starts

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IPO Ends

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Allotment Date

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Initiation of Refund

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Credit of Shares to Demat Account

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IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 0 0
Public Group 0 0

ACME Solar Holdings Limited IPO Reservation

QIB Shares Offered 0(0%)
NII (HNI) Shares Offered 0(0%)
Retail Shares Offered 0(0%)
Anchor Investor Shares Offered 0(0%)
Total Shares Offered 0
Total Shares With Anchor Investor 0

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

ACME Solar Holdings Limited IPO Registrar

KFin Techologies Ltd
Phone Number +91 40 6716 2222
Email Id einward.ris@kfintech.com
Our Website www.kfintech.com

ACME Solar Holdings Limited IPO Lead Manager

1. Nuvama Wealth Management Ltd

2. ICICI Securities Ltd

3. JM Financial Ltd

4. Kotak Mahindra Capital Company Ltd

5. Motilal Oswal Investment Advisors Ltd

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ACME Solar Holdings Limited IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed

Strength of ACME Solar Holdings Limited

1. Large renewable energy player well positioned to capitalize on strong industry tailwinds in our IPP business.

2. End-to-end value chain capabilities and an integrated approach to developing renewable power projects by our in-house project development, EPC and O&M teams.

3. Expansive portfolio diversified across different renewable energy technologies.

4. Long-term stable cash flows based on contracts with central and state government entities.

5. Access to diversified sources of funding.

6. Design and value engineering leading to higher efficiencies.

7. Committed Promoters and senior management team.

Risks Involved

1. The company may not be able to grow its portfolio of renewable energy power projects as the company relies on highly competitive renewable energy power project auctions. Further, its future growth is significantly dependent on successfully executing its Under Construction Awarded Projects and Under Construction Contracted Projects. In the event, the company is not successful in executing its future projects, its business and results of operations may be adversely impacted.

2. The company is dependent on its Power Purchase Agreements ("PPA") to sell power and generate its revenue from operations. Further, the terms of its PPAs may expose it to certain risks that may affect its future results of operations and cash flows.

3. Its business is dependent on the company's top 10 off-takers, which contributed 89.97%, 89.15% and 87.77% of its revenue from operations in Fiscal 2024, 2023 and 2022, respectively. The loss of any of these offtakers could have an adverse effect on its business, financial condition, results of operations and cash flows.

4. The company procured 79.37%, 69.84% and 69.95% of its total purchases in Fiscal 2024, 2023 and 2022, respectively from ACME Cleantech, its top supplier. Further, the company does not have definitive supply agreements with its vendors for the supply of components and any interruptions in supply could adversely affect its business, financial condition, results of operations and cash flows.

5. The Company, ACME Cleantech and ACME Solar Energy have received certain office orders from the Directorate of Enforcement in connection with investigations under the Foreign Exchange Management Act, 1999, as amended. MKU Holdings has also received a questionnaire from the Directorate of Enforcement and subsequently, notices from the Assistant Commissioner of Police, Economic Offences Wing, Gurugram and the Office of the Assistant Commissioner of Police, Delhi, Economic Offences Wing in connection with an ongoing investigation being undertaken under the provisions of Prevention of Money Laundering Act, 2002 against IREO group of companies.

6. The company is dependent on its relationship with one of its Promoter's, ACME Cleantech and any adverse developments in such relationship may adversely affect its business and reputation.

7. While the company has extensive experience in commissioning solar power projects, the company does not have experience in commissioning wind, hybrid FDRE power projects and closed loop pump storage projects. Without prior experience in commissioning such projects the company could encounter delays, and unexpected costs, undermining project viability and profitability.

8. Any constraints in the availability of the electricity grid, including its inability to obtain access to transmission lines in a timely and cost-efficient manner, could adversely affect its business, results of operations and cash flows.

9. A certain portion of the land on which its renewable power projects are or will be located may requires certain approvals and permits in order for it to use such land for developing such projects. In the event the company is unable to obtain such approvals and permits, its business, results of operations, cash flows and financial condition could be adversely affected.

10. There is a limited pool of potential purchasers of utility scale quantities of electricity and the possibility that counterparties to its PPAs may not fulfill their obligations could expose it and its power projects to risks which could have an adverse effect on its business, results of operations and cash flows.

Why should you invest in

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Financials

Particulars For the financial year ending (in ₹ million)
  2024 2023 2022
Total Assets 13394.13 12186.95 10886.72
Total Liabilities 13394.13 12186.95 10886.72
Total Expenses 1305.49 1416.21 1789.86
Total Revenue 
1466.27 1361.37 1892.29
Profit After Tax 698.23 -3.14 62.03
EBITDA 1985.3 1278.5 1644.71
Adjusted EBITDA 0 0 0

ACME Solar Holdings Limited IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
0 -
INE622W01017
₹0 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹0 ₹0
Open ₹0 ₹0
Low ₹0 ₹0
High ₹0 ₹0
Low ₹0 ₹0

Industry Outlook of ACME Solar Holdings Limited IPO

Strong Market Growth:The renewable energy sector in India has been experiencing robust growth, driven by government initiatives and global commitments to reduce carbon emissions. ACME Solar, being a major player in the industry, is well-positioned to benefit from these trends.

Government Support:The Indian government’s focus on increasing solar energy capacity through various policies, including the National Solar Mission, provides a favorable environment for companies like ACME Solar to expand their operations.

Technological Advancements:Advances in solar PV technology, such as increased efficiency and reduced costs, are expected to enhance the profitability of solar projects. ACME Solar's commitment to integrating these technologies positions it as a leader in the sector.

FAQ

1.Why is the ACME Solar Holdings Limited IPO going public?

The IPO aims to raise capital to fund ACME Solar’s expansion plans, reduce debt, and further strengthen its position in the renewable energy sector. By going public, the company also seeks to increase its market visibility and access a broader base of investors.

2.How many shares are being offered in the ACME Solar Holdings Limited IPO?

The exact number of shares offered in the IPO will be determined closer to the launch date. However, the company plans to issue a significant portion of equity shares to raise the required capital while maintaining a balanced shareholding pattern.

3.What are the financial highlights of ACME Solar Holdings Limited IPO?

ACME Solar Holdings Limited has demonstrated steady financial growth with strong revenue streams from its long-term Power Purchase Agreements (PPAs). The company has maintained healthy profit margins, which are expected to continue as it expands its project portfolio.

4.What are the main risks associated with investing in the ACME Solar Holdings Limited IPO?

Key risks include the company’s dependence on government policies, the execution of under-construction projects, and potential fluctuations in solar power tariffs. Investors should also consider the regulatory risks associated with the renewable energy sector in India.

What does ACME Solar Holdings Limited do?

ACME Solar Holdings Limited is primarily engaged in developing, building, owning, operating, and maintaining solar power projects across India. The company sells electricity generated from its solar projects to government entities under long-term PPAs, ensuring stable cash flows.

Frequently Asked Questions

What is ACME Solar Holdings Limited IPO?

Answer Field

ACME Solar Holdings Limited IPO is a [-] IPO of [-] equity shares of a face value of ₹[-] aggregating up to ₹[-] Crores. The issue is priced at ₹[-] to ₹[-] per share. The minimum order quantity is [-] Shares. The IPO opens on [-], and closes on [-]. KFin Techologies Ltd is the registrar for the IPO. The shares are proposed to be listed on [-].

When ACME Solar Holdings Limited IPO will open?

Answer Field

The ACME Solar Holdings Limited IPO opens on [-] and closes on [-].

What is the lot size of ACME Solar Holdings Limited?

Answer Field

ACME Solar Holdings Limited lot size is [-] shares, and the minimum amount required is ₹[-].

How to apply for ACME Solar Holdings Limited IPO?

Answer Field

You can apply in ACME Solar Holdings Limited IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is ACME Solar Holdings Limited IPO allotment?

Answer Field

The finalization of Basis of Allotment for ACME Solar Holdings Limited IPO will be done on [-], and the allotted shares will be credited to your demat account by [-].

When is ACME Solar Holdings Limited IPO listing date?

Answer Field

The ACME Solar Holdings Limited listing date is [-].

Who is the registrar of ACME Solar Holdings Limited IPO?

Answer Field

The registrar of ACME Solar Holdings Limited IPO is KFin Techologies Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Nuvama Wealth Management Ltd,ICICI Securities Ltd,JM Financial Ltd,Kotak Mahindra Capital Company Ltd,Motilal Oswal Investment Advisors Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of ACME Solar Holdings Limited IPO?

Answer Field

The fresh issue size is ₹[-] Crores equity shares.

What minimum lot size can retail subscribers subscribe to ACME Solar Holdings Limited?

Answer Field

Retail investors can subscribe to a minimum of one lot, [-] shares and ₹[-] amount.

How can I approve the UPI mandate request for ACME Solar Holdings Limited IPO?

Answer Field

To apply for ACME Solar Holdings Limited IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of ACME Solar Holdings Limited?

Answer Field

The price of each ACME Solar Holdings Limited share will be ranging in between ₹[-] to ₹[-] per share.

What is the cut-off time for the UPI mandate for ACME Solar Holdings Limited IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, [-].

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