IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

To be announced

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investors  |   Eligible Employees and Eligible Shareholders  |  

About Acme Solar Holdings Limited

Acme Solar Holdings Limited is one of India's largest renewable energy independent power producers (IPP), ranking among the top 10 in operational capacity as of March 31, 2024 (Source: CRISIL Report). Established in 2015 to consolidate the ACME Group’s renewable energy business, Acme Solar has expanded its portfolio to include solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects.

The company develops, builds, owns, operates, and maintains utility-scale renewable energy projects through its in-house engineering, procurement, and construction (EPC) division and operation and maintenance (O&M) team. Acme Solar generates revenue by selling electricity to central and state government-backed entities.

As of March 31, 2024, Acme Solar has an operational project capacity of 1,320 MW (1,802 MWp) in solar power projects and an under-construction contracted project capacity of 1,650 MW, including 1,500 MW (2,192 MWp) in solar and 150 MW in wind power projects.

Additionally, the company has an under-construction awarded project capacity of 2,380 MW, comprising 300 MW of solar, 830 MW hybrid, and 1,250 MW FDRE power projects. In May 2024, Acme Solar signed power purchase agreements for two FDRE projects with a combined capacity of 570 MW. The company has a track record of developing and commissioning 2,719 MW (3,668 MWp) of solar power projects since its inception.

Industry Outlook:

  1. By 2030, India aims to reduce GDP emissions intensity by 45% and achieve 50% electricity capacity from non-fossil fuels, driving significant renewable energy growth.
  2. Utility-scale lithium-ion battery costs are projected to drop from $130-140 per kWh in 2023 to $90-100 per kWh by 2030, enhancing storage affordability.

Acme Solar Holdings Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Subsidiaries; and
  2. General corporate purposes

Peer Details

The companies considered by Acme Solar Holdings as its peers include:

  1. Adani Green Energy Limited
  2. ReNew Energy Global PLC

How to Check the Allotment Status of the Acme Solar Holdings Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.

Contact Details of Acme Solar Holdings Limited IPO

  • Registered office: Plot No. 152, Sector 44, Gurugram 122 002, Haryana, India
  • Phone: +91 124 7117000
  • E-mail:cs.acme@acme.in

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Total Revenue (in ₹ million) 14,751.60 8,972.13 11,013.84
Profit After Tax (PAT) (in ₹ million) 934.42 192.15 997.44
Cash & Cash Equivalents (in ₹ million) 3,088.55 5,474.49 4,784.56
Net Worth (in ₹ million) 19,569.92 18,624.30 18,430.86
Debt Equity Ratio (x) 2.66 3.85 3.56
Return on Equity (%) 38.84% 25.34% 31.87%
Return on Net Worth (RoNW) (%) 26.95% (0.17)% 3.25%
Diluted Earning Per Share (EPS)-in absolute ₹ 126,409.63 25,994.32 134,935.06

Know before investing

Strengths

7

  1. One of India's largest renewable energy IPPs with 1,320 MW operational capacity.

  2. Extensive experience with 2,719 MW solar power projects commissioned.

  3. Strong project pipeline with 2,220 MW under construction contracted capacity.

  4. Integrated in-house EPC and O&M capabilities for efficient project execution.

  5. Strategic land acquisition expertise with over 15,000 acres secured.

  6. Diverse portfolio across solar, wind, hybrid, and FDRE technologies.

  7. 61.03% bid success ratio in Fiscal 2024.

Risks

7

  1. Growth relies on winning highly competitive project bids.

  2. 4,030 MW under-construction projects are critical for future growth.

  3. Long-term PPAs with central and state entities.

  4. 79.37% purchases from ACME Cleantech in Fiscal 2024.

  5. Ongoing investigations under FEMA and PMLA.

  6. Concentrated revenue risk: 63.22% of revenue from Andhra Pradesh, Rajasthan, and Telangana.

  7. Dependence on government-owned transmission grids and infrastructure.

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Acme Solar Holdings IPO FAQs

What is Acme Solar Holdings Limited's IPO?

Acme Solar Holdings IPO is a book-built IPO. The exact dates and price range are yet to be announced. 

When will Acme Solar Holdings Limited's IPO be allotted?

The exact dates and price range are yet to be announced. 

When will Acme Solar Holdings Limited's IPO open for subscription?

The IPO subscription window is not announced yet.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.

When will Acme Solar Holdings Limited list on exchanges?

The exact date is not announced yet.

How do I check the allotment status of the Acme Solar Holdings Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

What would be the listing gains on the Acme Solar Holdings Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.

I have finished the application process for the Acme Solar Holdings Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Acme Solar Holdings Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Acme Solar Holdings Limited using one PAN?

You can submit only one application using your PAN card.