ACME Solar Holdings IPO Listing: The equity shares of ACME Solar Holdings Ltd are set to make their stock market debut today after its initial public offering (IPO) hit the Steet last week. ACME Solar Holdings IPO listing date is today, November 13.

ACME Solar Holdings IPO was open for subscription from November 6 to 8. As the IPO allotment has been finalised, ACME Solar Holdings shares will be listed on stock exchanges today. ACME Solar Holdings IPO listing date is fixed as on November 13, Wednesday. The IPO listing will take place on both the stock exchanges, BSE and NSE.

“Trading Members of the Exchange are hereby informed that effective from Wednesday, November 13, 2024, the equity shares of ACME Solar Holdings Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.

ACME Solar Holdings shares will be a part of Special Pre-open Session (SPOS) on Wednesday, November 13, the notice added, and the shares will be available for trading from 10:00 AM.

Ahead of ACME Solar Holdings IPO listing today, investors watch out for the trends in the grey market premium (GMP) to gauge the listing price. ACME Solar Holdings IPO GMP today signals a muted debut of shares. Experts also indicate a tepid listing for ACME Solar Holdings shares.

Here’s what ACME Solar Holdings IPO GMP today and experts signal about share listing.

ACME Solar IPO GMP Today

ACME Solar Holdings shares are showing a muted trend in the unlisted market as seen in the grey market premium (GMP) today. According to stock market experts, ACME Solar IPO GMP today is ₹0 per share. This indicates that ACME Solar shares are trading flat, without any premium or discount to the issue price.

ACME Solar Holdings IPO Listing Price

Considering the ACME Solar IPO GMP of ₹0, the estimated listing price of ACME Solar shares is likely to be ₹289 apiece, which is at par with its IPO price of ₹289 per share.

“ACME Solar Holdings Ltd. received a subscription rate of 2.89 times, indicating moderate investor interest. The company is set to debut on the stock exchange today and is expected to open near the upper price band with a stable performance outlook,” said Manish Chowdhury, Head of Research, Stoxbox.

ACME has an extensive portfolio across various renewable energy technologies and is constantly growing its portfolio by adding to its capacity. It has an in-house approach to end-to-end execution, completion and maintenance of its projects. This helps the company improve its efficiency and manage costs, boosting revenue and strengthening reliability.

“On the financial front, ACME has demonstrated remarkable growth, with its PAT increasing from ₹620 million in FY22 to ₹6,978 million in FY24. Additionally, the company achieved an ROE of 38.83% in FY24. We, therefore, suggest that investors who have been allotted shares consider maintaining their positions with a medium to long-term outlook,” Chowdhury added.

Shivani Nyati, Head of Wealth at Swastika Investmart is of the view that ACME Solar Holdings IPO’s valuation appears reasonable, but the current market sentiment and the company’s historical financial performance may influence the listing outcome.

“Investors should exercise caution and consider the potential for volatility in the short term. While the company’s long-term growth prospects are encouraging, the near-term market dynamics and the impact of external factors could influence the stock’s performance post-listing,’ Nyati said.

ACME Solar Holdings IPO Details

The bidding for ACME Solar Holdings IPO commenced on Wednesday, November 6, and concluded on Friday, November 8. The IPO allotment was fixed on November 11, and the ACME Solar IPO listing date today, November 13. The equity shares of ACME Solar Holdings Ltd will be listed on both the stock exchanges, BSE and NSE.

ACME Solar Holdings IPO price band was set at ₹275 to ₹289 per share. At the upper-end of the price band, the company raised ₹2,900 crore from the book-built issue that comprised a combination of fresh issue of 8.29 crore equity shares worth ₹2,395 crore and offer-for-sale (OFS) of 1.75 crore share amounting to ₹505 crore.

The public offer was subscribed 2.75 times in total. The public issue received 3.10 times subscription in the Retail category and 97% subscription in the Non Institutional Investors (NII) category. The portion for Qualified Institutional Buyers (QIB) was booked 3.54 times.

Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company and Motilal Oswal Investment Advisors are the book running lead managers of the ACME Solar Holdings IPO, while Kfin Technologies is the IPO registrar.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.