Tue Nov 05 18:05:31 UTC 2024: ## ACME Solar Holdings to Raise ₹2,900 Crore in IPO This Week

**MUMBAI, INDIA -** ACME Solar Holdings, a leading renewable energy company in India, is set to launch its initial public offering (IPO) on Wednesday, November 6th. The IPO, which includes both fresh issue and an offer for sale (OFS), aims to raise ₹2,900 crore.

The IPO price band has been set between ₹275 to ₹289 per share, with the subscription window closing on November 8th. Share allotment is expected to be finalized on November 11th, and the company’s shares are likely to be listed on the NSE and BSE on November 13th.

In the grey market, ACME Solar shares are currently trading at a 9.8% premium over the upper price band. This informal trading indicator suggests a positive sentiment towards the IPO’s listing performance.

ACME Solar Holdings specializes in generating electricity from wind and solar sources, operating as one of India’s largest renewable energy providers. The company develops, constructs, owns, operates, and maintains large-scale projects, generating revenue through electricity sales primarily to government-supported plants at both state and central levels.

Proceeds from the IPO will be allocated towards paying down debt incurred by ACME’s subsidiaries, with a portion also directed toward general corporate needs to support ongoing projects and operations.

The IPO has a minimum application size of 51 shares for retail investors, requiring an investment of ₹14,739 at the upper price band. Minimum investments for non-institutional investors (NIIs) vary, with small NIIs needing ₹2,06,346 and large NIIs requiring ₹10,02,252.

Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company, and Motilal Oswal Investment Advisors are acting as lead book-running managers for the issue. Kfin Technologies will serve as the registrar, overseeing allotment and other administrative aspects of the IPO.

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