November 13, 2024
New Delhi, India
IPO Listing Today
ACME Solar Holdings had a disappointing listing on November 13, debuting at ₹251 per share on the NSE, which is a 13.15% discount to its IPO issue price of ₹289. The stock also listed on the BSE at ₹259, reflecting a 10.38% discount.
IPO Performance Summary:
- Issue Price: ₹275 – ₹289 per share
- Listing Price:
- NSE: ₹251 (13.15% discount)
- BSE: ₹259 (10.38% discount)
- Funds Raised: ₹2,900 crore
- Fresh Issue: ₹2,395 crore
- Offer for Sale (OFS): ₹505 crore
IPO Subscription Details:
- Overall Subscription: 2.75 times
- Retail Investors: 3.10 times
- Qualified Institutional Buyers (QIB): 3.54 times
- Non-Institutional Investors (NII): 97%
Company Overview:
ACME Solar Holdings is a leader in renewable energy, specializing in various solar technologies. The company focuses on in-house project execution, which aids in cost management and enhances operational efficiency.
Key Managers:
The IPO was managed by Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company, and Motilal Oswal Investment Advisors. Kfin Technologies served as the IPO registrar.
ACME Solar’s listing fell short of market expectations, which anticipated a flat debut or a listing at the issue price. Investors and market analysts are now watching closely to see how the stock performs in the coming sessions.
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