Tue Nov 05 12:12:57 UTC 2024: ## ACME Solar Holdings Set to Raise Rs 2,900 Crore Through IPO

**MUMBAI, INDIA – November 5, 2024:** ACME Solar Holdings, a leading renewable energy company in India, is set to launch its initial public offering (IPO) on November 8th, aiming to raise Rs 2,900 crore. The IPO will include a fresh issue of Rs 2,395 crore and an offer-for-sale of Rs 505 crore.

The company, which specializes in wind and solar energy projects, will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Retail investors will need a minimum investment of Rs 14,739, while small and large Non-Institutional Investors (NII) will require minimum investments of Rs 206,346 and Rs 1,002,252 respectively.

The IPO has a price band of Rs 289 per share, with the most recent grey market premium (GMP) at Rs 27, as of 5th November, 2024. This suggests an estimated listing price of Rs 316, potentially generating a 9% gain per share for investors.

ACME Solar Holdings has a strong track record, having installed 1,320 MW of solar projects by March 2024 and currently holds a contracted capacity of 1,650 MW, including wind and solar projects. The company also boasts a robust pipeline of 2,380 MW of projects under execution.

The company plans to utilize the net proceeds from the IPO for expanding its renewable energy portfolio, strengthening its operations, and reducing its debt.

With a market capitalization of Rs 17,486.81 crore, ACME Solar Holdings IPO is anticipated to attract significant investor interest. Investors can participate in the IPO through their demat accounts or through their bank/financial institution during the IPO period.

**Important Dates:**

* **IPO Open Date:** November 8th, 2024
* **IPO Close Date:** November 8th, 2024, 5:00 PM
* **Listing Date:** To be announced

**Disclaimer:** This news article is for informational purposes only and should not be considered investment advice. Potential investors are advised to conduct their own research and seek professional advice before making any investment decisions.

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