It’s a hectic listing day today. Along with the big bang Swiggy listing, ACME Solar Holdings is all set to hit the secondary markets on November 13. The IPO was subscribed 2.89 times while the retail portion was booked 3.25 times. The IPO was opened on November 06 and closed on November 08. The company raised Rs 2,900 crore.
ACME Solar Holdings IPO GMP
The shares of ACME Solar Holdings were trading at a discount of 1.38% in the grey market. The GMP of ACME Solar Holding is indicating a disappointing listing. The grey market is an unofficial place to trade shares ahead of listing. Market participants keep an eye on GMP to track listing day gains.
ACME Solar Holdings IPO Details
The company’s IPO price band ranged between Rs 275 to Rs 289 per equity share. The allotment of shares was finalised on November 11. Retail buyers could apply for 51 shares in an application and then in multiples of it. The 51 shares amount to Rs 14,739. There were different lot sizes for small and big NIIs. The small NII could invest a minimum of Rs 2,06,346 while big NIIs Rs 10,02,252.
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About ACME Solar Holding
ACME Solar Holdings is in the business of producing electricity from renewable energy sources. The company is one of the largest producers of electricity from wind and solar energy in India. ACME Solar Holdings specializes in the development, construction, ownership, operation, and maintenance of large-scale renewable energy projects. The company’s revenue is generated by selling electricity to various customers, including plants supported by the central and state governments.
Objectives of IPO
The company will be utilising the raised funds for the payment of certain borrowings availed by the company’s subsidiaries. Also, some part of the proceeds will be used for other general corporate purposes.
BRLMs and Registrar
Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company,
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