IPO Details
Bidding Dates
06 Nov 24 - 08 Nov 24
Price Range ₹
275 - 289
Total Equity
₹ 2900.00Cr
Lot Size
51
Exchange Status
NSE,BSE
IPO Doc
Subscription Rate
Non-Institutional Investor
3.10×
Qualified Institutional Buyers
3.54×
Employees
1.59×
Retail Investors
3.10×
Total subscription Rate
2.75×
IPO Timeline
Offer start
06 Nov 2024
Offer end
08 Nov 2024
Allotment
11 Nov 2024
Refund initiation
12 Nov 2024
Demat transfer
12 Nov 2024
Listing
13 Nov 2024
Offer start
06 Nov 2024
Offer end
08 Nov 2024
Allotment
11 Nov 2024
Refund initiation
12 Nov 2024
Demat transfer
12 Nov 2024
Listing
13 Nov 2024
About Company
Founded in June 2015, ACME Solar Holdings Limited is an Indian company dedicated to producing electricity from renewable energy sources. It ranks among India’s largest renewable energy electricity producers, focusing on solar and wind energy. ACME Solar specializes in developing, constructing, owning, operating, and maintaining large-scale renewable energy projects. The company leverages its in-house engineering, procurement, and construction (EPC) division and operations and maintenance (O&M) team to execute these projects. Revenue is generated by selling electricity to various clients, including both central and state government-supported plants. As of March 31, 2024, ACME Solar had a total operational project capacity of 1,320 MW (1,802 MWp) in solar power. It also held a contracted project capacity of 1,650 MW, including 1,500 MW (2,192 MWp) of solar projects and 150 MW of wind projects. Additionally, the company had awarded projects under construction totaling 2,380 MW, which consisted of 300 MW in solar, 830 MW in hybrid, and 1,250 MW in FDRE power projects.
Year Founded
03-06-2015
Promotor Details
Manoj Kumar Upadhyay
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 83.41 |
| Share Capital | 522207910 | 504733862 |
Offer to Public
10,03,46,022.00 Cr
Project Details
- Investment in our Subsidiaries for repayment/prepayment, in full or in part, of certain outstanding - 17950cr
Objectives
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by our Subsidiaries
- andGeneral corporate purposes
Highlights
- Leading renewable energy company with robust growth in the Independent Power Producer (IPP) sector.
- Comprehensive, end-to-end project development approach, utilizing in-house expertise in project development, EPC (Engineering, Procurement, and Construction), and O&M (Operations and Maintenance).
- Extensive and diversified portfolio across multiple renewable energy technologies.
- Stable, long-term cash flows secured through contracts with central and state government agencies.
- Focus on design and value engineering to enhance operational efficiency.
Challenges
- Regulatory changes in the renewable energy sector can impact project approvals, tariffs, and operational guidelines, creating uncertainty around future earnings.
- The company’s revenue is highly dependent on government policies and incentives for renewable energy projects; any shifts in these policies could adversely affect profitability.
- A significant portion of revenue (89.97% in 2024) comes from the top 10 off-takers, exposing the company to client concentration risk.
- The lack of long-term agreements with suppliers, with components typically sourced through purchase orders, could lead to supply chain uncertainties.
- Changes in tariffs and operational guidelines may impact cost structure and project profitability.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2020 | 1,53,552.60 | 1,044.42 | -2,403.54 | -2,403.54 | -23.0132 |
| 2022 | 1,07,269.62 | 1,044.42 | 6,977.81 | 6,977.98 | 66.812 |
| 2023 | 1,19,394.02 | 1,044.42 | 152.13 | 152.13 | 1.4566 |
| 2024 | 1,32,069.52 | 1,044.42 | -468.66 | -468.66 | -4.4873 |
| 2021 | 1,23,454.02 | 1,044.42 | -2,403.54 | -2,403.54 | -23.0132 |
