ACME Solar Holdings IPO Day 3: Latest Subscription Status, GMP, Allotment, Listing Details Here

ACME Solar Holdings IPO Day 2: The Rs 2,900 crore IPO was fully subscribed on Day 3, with strong demand from qualified institutional, retail investors and employees. However, the portion reserved for high net worth clients (NII) is yet to be fully subscribed. After the bidding, the allotment status of the IPO will take place on Monday, November 11. The latest GMP suggests a flat listing for the IPO.

ACME Solar Holdings IPO Subscription Status:

Data from exchanges showed that ACME Solar IPO received bids of 13,58,08,257 equity shares, against offered size of 5,82,03,223 equity shares. With that, the IPO is fully subscribed by 2.33x. The portion reserved for the retail investors subscribed by 2.83x, while the employees' portion subscribed by 1.41x. The qualified institutional buyers' portion also received a subscription of 2.93x. However, the non-institutional investors (NII) portion subscribed by 83% of the total.

The IPO will close after 17:00 on November 8, 2024. The price band of the IPO is fixed at Rs 275 to Rs 275 per equity share. There is a discount of Rs 27 per share to eligible employees. The IPO opened on November 6th and will close on Friday.

ACME Solar Holdings IPO GMP Today:

As per Investor Grain, ACME Solar Holdings IPO's last GMP is ₹0, last updated Nov 8th 2024 12:32 PM. With a price band of 289.00, ACME Solar Holdings IPO's estimated listing price is ₹289 (cap price + today's GMP). The expected percentage gain/loss per share is 0.00%.

ACME Solar Holdings IPO Allotment:

The basis of allotment for the IPO will take place on November 11. Investors can check their application status on BSE, NSE, and Kfin Technologies who is the registrar of the IPO.

The initiation of refund and credit of eligible shares will be done in demat accounts on November 12.

ACME Solar Holdings IPO Listing:

The IPO will be listed on November 13. In its IPO note, brokerage Swastika provided an outlook and valuation for the IPO.

As per the brokerage, the company operates in the renewable energy sector with a diversified portfolio across various power generation sources. Also, after a dip in profitability in FY23, the company recently demonstrated exceptional growth with strong margins. However, the debt-to-equity ratio remains significantly high.

The brokerage believes ACME Solar is suitable for long term investors prepared for potential listing volatility.