{"id":7959,"date":"2024-11-08T10:03:48","date_gmt":"2024-11-08T04:33:48","guid":{"rendered":"https:\/\/namaskaraindia.com\/?p=7959"},"modified":"2024-11-08T10:03:51","modified_gmt":"2024-11-08T04:33:51","slug":"acme-solar-holdings-ipo-issue-subscribed-70-on-day-2-retail-portion-overbooked-gmp-turns-nil","status":"publish","type":"post","link":"https:\/\/namaskaraindia.com\/acme-solar-holdings-ipo-issue-subscribed-70-on-day-2-retail-portion-overbooked-gmp-turns-nil\/","title":{"rendered":"ACME Solar Holdings IPO: Issue 70% subscribed on Day 2, retail portion oversubscribed; GMP becomes zero"},"content":{"rendered":"
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ACME Solar<\/a> Holdings Ltd’s preliminary public<\/a> offering (IPO<\/a>) seen common response<\/a> from merchants on the second day of the bidding operation due to sturdy retail<\/a> push. In response to BSE particulars on the market<\/a> on Thursday, the retail part was booked 2.04 events at 5 pm<\/a>, whereas the category reserved for employees seen 98 per cent oversubscription. Non-institutional merchants (NIIs) seen 56 per cent bids and the licensed institutional purchaser (QIB) part subscribed 31 per cent.<\/p>\n\n\n\n

Common, the problem obtained 4,05,87,075 bids in opposition to five,82,03,223 shares with 70 per cent subscription on Day 2. The three-day preliminary share<\/a> sale will keep open until Friday, November 8. The photo voltaic power producer is selling<\/a> its shares at Rs 275-289. Merchants can apply for at least 51 equity shares and in multiples thereafter.<\/p>\n\n\n\n

Acme Solar’s Rs 2,900-crore IPO at Rs. 2,395 crore along with up<\/a> to date share sale and from its pioneer unit ACME Cleantech Choices of Rs.<\/p>\n\n\n\n

The company<\/a> acknowledged that the net proceeds from the problem is likely to be utilized for reimbursement or prepayment of certain glorious loans to subsidiaries and for fundamental firm features. It<\/a> added that proceeds from the OFS will go to the company’s selling shareholders.<\/p>\n\n\n\n

ACME Solar raised a whole of Rs 1,300.5 crore from anchor merchants ahead of its IPO. Its anchor e guide included marquee names equivalent to Abu Dhabi Funding<\/a> Authority, Goldman Sachs, Morgan Stanley, Nomura, Societe Generale, HSBC Worldwide, BNP Paribas Funds, CLSA Worldwide, EastSpring Investments.<\/p>\n\n\n\n

It had a leased mission functionality of 1,650 MW, comprising 1,500 MW (2,192 MWp) of photo voltaic power duties and 150 MW of wind power duties.<\/p>\n\n\n\n

For the quarter ended June 30, 2024 (Q1 FY25), ACME Solar reported a web income<\/a> of Rs 1.39 crore on revenue of Rs 340.01 crore. It posted a web income of Rs 697.78 crore on revenue of Rs 1,466.27 crore for the financial yr ended March 31, 2024.<\/p>\n\n\n\n

Latest Gray space Premium (GMP)<\/strong><\/h3>\n\n\n\n

Inside the gray space, shares of ACME Solar traded flat at Rs 289 in opposition to a problem price of Rs 289 (price chart above). The shares are susceptible to be listed on November 13.<\/p>\n\n\n\n

Nuama Wealth Administration, ICICI Securities, JM Financial, Kotak Mahindra Capital<\/a> Agency and Motilal Oswal Funding Advisors are the book-running lead managers of the ACME Solar IPO, whereas Kfin Utilized sciences is the registrar.<\/p>\n\n\n\n

Individually, Swiggy<\/a> Ltd is one different main board IPO which is open for subscription till tomorrow. As far as investor curiosity is anxious, it witnessed a lackluster response on Day 2. Whereas the employee part oversubscribed 1.15 events, the category reserved for retailers seen 84 % oversubscription. The licensed institutional purchaser (QIB) part obtained 28 per cent bids and non-institutional merchants (NIIs) seen 14 per cent subscription.<\/p>\n\n\n\n

5,57,09,140 bids had been provided in opposition to 16,01,09,703 shares on Day 2 with 35 per cent subscription. The meals and quick-commerce platform traded its shares at Rs 371-390. . Merchants can apply for at least 38 equity shares and in multiples thereafter.<\/p>\n\n<\/div>\n\n\n

Disclaimer: Namaskara India<\/a> supplies inventory subject information<\/a> for informational functions solely and shouldn’t be construed as funding recommendation. Readers are inspired to seek the advice of with a certified monetary advisor earlier than making any funding choices.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

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