The ACME Solar Holdings IPO was subscribed 2.75 times on its final day of bidding, Nov. 8. The IPO attracted bids for a total of 16,00,13,316 shares, compared to the 5,82,03,223 shares available, according to NSE data till 5:30 pm on Friday.
The ACME Solar Holdings IPO saw varied demand across categories. The retail portion was subscribed 3.1 times, while the Qualified Institutional Buyers (QIB) category saw a stronger response with 3.54 times subscriptions. Bidding was lowest in the Non-Institutional Investors (NII) category, with the subscription being 0.97 times.
Retail investors submitted bids for 3,25,47,639 shares, exceeding the 1,05,09,090 shares allocated to them. QIBs placed bids for 11,15,56,023 shares, well above the 3,15,27,272 shares reserved for their category. In contrast, NII investors applied for 1,52,69,400 shares, falling short of the 1,57,63,636 shares allocated to them.
The issue's employee allocation was subscribed 1.59 times with bids for 6,40,254 shares against 4,03,225 shares on offer.
The allotment for the ACME Solar IPO will be finalised on Nov. 11, with the company slated to list on both BSE and NSE on Nov. 13.
Investors, who bid in the IPO, can check their allotment status via the BSE or NSE websites, or by visiting the registrar, Kfin Technologies Ltd.
How To Check ACME Solar IPO Allotment Status On Kfin Technologies
Visit the KFin Technologies Ltd website's IPO allotment page here.
Select the ACME Solar Holdings Limited from the dropdown menu.
Choose either Application Number, Demat Account or PAN.
Complete the Captcha verification.
Click the submit button to view your allotment status.
How To Check ACME Solar IPO Allotment Status On BSE Website
Go to the IPO allotment page on BSE website here.
Click on Issue Type and choose 'Equity.'
From the 'Issue Name' dropdown, choose ACME Solar Holdings Limited.
Type in your PAN (Permanent Account Number) or Application Number.
Verify that you are not a robot by completing the Captcha.
To see the status of your allotment, click Search.
Further, the ACME Solar Holdings IPO allotment status can also be checked via NSE's website using the required details like PAN or application number.
ACME Solar IPO GMP
The latest grey market premium (GMP) for the ACME Solar Holdings IPO shows that the issue is likely to be listed at a discounted price. As per InvestorGain, the company's shares are likely to debut at a price of Rs 288 as against the IPO's upper price band of Rs 289.
Note: GMP is not an official price quote for the stock and is based on speculation.
ACME Solar IPO details
The ACME Solar Holdings IPO was a book-built issue with a total value of Rs 2,900 crore, which includes a fresh issue of 8.29 crore shares valued at Rs 2,395 crore and an offer-for-sale component of 1.75 crore shares valued at Rs 505 crore. The IPO opened for subscription between Nov. 6 and Nov. 8.
The price band for the IPO is Rs 275 to Rs 289 per share, with a minimum lot size of 51 shares.
Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital, and Motilal Oswal are the book-running lead managers, while Kfin Technologies Ltd is the registrar for the IPO.
ACME Solar IPO Objectives
The net proceeds from the ACME Solar IPO will be used for the settlement of debt by the company’s subsidiaries. A portion of the money raised from the market will be used for general corporate purposes.
About ACME Solar Holdings
ACME Solar Holdings Ltd, incorporated in June 2015, is a renewable energy company that specialises mostly in solar and wind power.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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