- POSITIVE
Annual Revenue ACME Solar Holdings Mar-2026 Annual Revenue is Rs 4,357 Cr which is growth of 188.2% YoY.
- POSITIVE
Annual Net Profit ACME Solar Holdings Mar-2026 Annual Net Profit is Rs 340 Cr which is growth of 80.2% YoY.
Acme Solar Holdings Ltd. was incorporated in Haryana on June 3, 2015. The company is a renewable energy player in India with a portfolio of solar, wind, hybrid, and firm and dispatchable renewable energy (“FDRE”) projects.
| Bidding Dates |
|---|
| 06 Nov 2024 - 08 Nov 2024 |
| Subscription |
|---|
| 2.75x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,025 | 1 | 13 | 51 | 100.3 M | ₹275 - ₹289 | 83.42 % | ₹27,595.2 M - ₹29,000.0 M | RHP DOC |
ACME Solar Holdings Ltd. IPO SUBSCRIPTION STATUS
08 Nov '24Total2.75x
Retail Individual Investor3.1x
HNI (NII) Investors0.97x
Qualified Institutional Buyers3.54x
Employees1.59x
ACME Solar Holdings Ltd. IPO overall subscription rate was 2.75 times the total available shares
ACME Solar Holdings Ltd. IPO retail subscription rate was 3.1 times in the retail segment
ACME Solar Holdings Ltd. IPO non-institutional investor subscription rate was 0.97 times in the non-institutional investor category
ACME Solar Holdings Ltd. IPO Qualified Institutional Bidder subscription rate was 3.54 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
08 Nov 2024 (Day 3) | 3.1x | 0.97x | 3.54x | 1.59x |
07 Nov 2024 (Day 2) | 2.04x | 0.56x | 0.31x | 0.98x |
06 Nov 2024 (Day 1) | 1.19x | 0.32x | 0.15x | 0.6x |
ACME Solar Holdings Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY25 | 13.9 | 3,096.4 | 13,226.9 | 5,169.6 | 87.8% |
| Q1FY24 | 823.3 | 3,691.3 | 4,966.9 | 2,457.2 | 87.2% |
| FY24 | 6,977.8 | 13,192.5 | 14,341.7 | -13,679.0 | 82.6% |
| FY23 | -31.7 | 12,949.0 | 12,634.8 | 4,949.8 | 90.6% |
| FY22 | 620.1 | 14,879.0 | 9,549.6 | -4,957.8 | 83.4% |
ACME Solar Holdings Ltd. IPO SUBSCRIPTION STATUS DETAILS
ACME Solar Holdings Ltd. had 100.3 M shares on offer
ACME Solar Holdings Ltd. IPO offer price was in the range ₹275 - ₹289
ACME Solar Holdings Ltd. IPO minimum Investment was ₹14025
ACME Solar Holdings Ltd. IPO issue size was ₹ 27,595.2 M - ₹ 29,000.0 M
ACME Solar Holdings Ltd. had a minimum lot size of 51 Shares per application
ACME Solar Holdings Ltd. NUMBER OF SHARES ON OFFER
Total100.3 M
Fresh Issue82.9 M
Offer for Sale17.5 M
Post Issue Promoter Holding %83.42 %
ACME Solar Holdings Ltd. IPO IMPORTANT DATES
| Issue Open Date | 06 Nov 2024 |
| Issue close Date | 08 Nov 2024 |
| Allotment Date | 11 Nov 2024 |
| Refund Date | 12 Nov 2024 |
| Demat Account Credit Date | 12 Nov 2024 |
| Listing Date | 13 Nov 2024 |
| Listing on Exchange(s) | NSE and BSE |
| ACME Solar Holdings Ltd. Allotment Status | Exchange |
ACME Solar Holdings Ltd. IPO subscription opened on 06 Nov 2024, and closed on 08 Nov 2024
IPO allotment for ACME Solar Holdings Ltd. was finalized on Monday, 11 Nov 2024
IPO listing for ACME Solar Holdings Ltd. was on NSE and BSE on Wednesday, 13 Nov 2024
ACME Solar Holdings Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 289.0 |
| Listing Open Price | 251.0 |
| Listing Close Price | 253.2 |
| Listing Gain% | -13.2% |
| Current Gain% | 40.1% |
ACME Solar Holdings Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ACME Solar Holdings Ltd. | 404.8 | 24493.6 | 37.8 | 0.7 | 10.3 | 9.8 | 1.7 | 2507.1 | 59.2 | 498.9 | 97.9 | 10.7 | 57.2 |
| Adani Green Energy Ltd. | 1298.7 | 213918.8 | 114.2 | -16 | 14.4 | 8.6 | 1.1 | 13819 | 11.2 | 1652 | 14.4 | 11.4 | -7.1 |
| Siemens Energy India Ltd. | 2803.3 | 99831.3 | 67.1 | 1.4 | 10.6 | 25.1 | 11.5 | 7932 | 66.6 | 1100.1 | 83.4 | 41.8 | 46.7 |
| NHPC Ltd. | 77.7 | 78090.1 | 20.6 | 0.9 | 6.4 | 9.1 | 3.1 | 12686.1 | 8.2 | 3765.7 | 25.2 | 3.8 | 24.1 |
| NTPC Green Energy Ltd. | 82.4 | 69466.7 | 105.8 | 12.8 | 19.2 | 2.8 | 0.9 | 3035.1 | 23.1 | 522.6 | 9.9 | 0.8 | 8.2 |
| SJVN Ltd. | 53.4 | 20981.2 | 21.2 | 0.3 | 3.4 | 4.5 | 1.2 | 4722.8 | 39.9 | 642.1 | -21.7 | 2.5 | 77.5 |
Forecaster
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
ACME Solar Holdings Ltd. annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Base Level
Reporting Type
Standalone
Cell Data
Actual
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*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
188.2%
2Y CAGR
168.5%
3Y CAGR
98%
5Y CAGR
67.7%
Total Revenue Annual growth is higher than historical averages.
Net Profit Ann.
1Y CHG
80.2%
2Y CAGR
-10%
5Y CAGR
69.5%
Net Profit Annual growth is stable compared to historical averages.
Operating Exp. Ann.
1Y CHG
233.5%
2Y CAGR
162%
3Y CAGR
93.9%
5Y CAGR
91.8%
Operating Expenses Annual Cr growth is higher than historical averages.
ACME Solar Holdings Ltd. INFORMATION ON IPO ISSUE
About ACME Solar Holdings Ltd.
Acme Solar Holdings Ltd. was incorporated in Haryana on June 3, 2015. The company is a renewable energy player in India with a portfolio of solar, wind, hybrid, and firm and dispatchable renewable energy (“FDRE”) projects.
Object of the Issue
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the subsidiaries
- General corporate purposes
ACME Solar Holdings Ltd. - PROMOTERS
| Name |
|---|
| Mamta Upadhyay |
| Manoj Kumar Upadhyay |
| Upadhyay Family Trust |
| MKU Holdings Private Limited (“MKU Holdings”) |
| ACME Cleantech Solutions Private Limited (“ACME Cleantech”) |
ACME Solar Holdings Ltd. Book running lead manager
Nuvama Wealth Management Limited
acme.ipo@nuvama.com
ICICI Securities Limited
acmeipo@icicisecurities.com
JM Financial Limited
acmesolaripo@jmfl.com
Kotak Mahindra Capital Company Limited
acmesolar.ipo@kotak.com
Motilal Oswal Investment Advisors Limited
acmeipo@motilaloswal.com
ACME Solar Holdings Ltd. Registrar to the offer
KFin Technologies Limited
acmesolar.ipo@kfintech.com
ACME Solar Holdings Ltd. Strengths
Large renewable energy player
The company is one of the largest renewable energy independent power producers (IPP) in India and among the top 10 renewable energy players in India in terms of operational capacity as of March 31, 2024, in India. The company has an aggregate operational capacity of 1,320 MW (1,802 MWp); under construction contracted capacity of 2,220 MW and under construction awarded capacity of 1,810 MW
Strength
End-to-end value chain capabilities
The company has an integrated in-house approach to executing its renewable projects across the entire life cycle of developing a project, from PPA signing to the project achieving commercial operations within 18 to 24 months and subsequently operating and maintaining the project
Strength
Expansive portfolio
The company has an expansive portfolio of projects diversified across different renewable energy technologies. The company's projects are located across 10 Indian states of Rajasthan, Gujarat, Punjab, Madhya Pradesh, Uttar Pradesh, Bihar, Chhattisgarh, Andhra Pradesh, Odisha and Telangana
Strength
ACME Solar Holdings Ltd. Risks
Competitive Auctions
The company may not be able to grow its portfolio of renewable energy power projects as it relies on highly competitive renewable energy power project auctions. Further, the company's future growth is significantly dependent on successfully executing Under Construction Awarded Projects and Under Construction Contracted Projects
Risk
Dependent on PPA
The company is dependent on power purchase agreements (PPA) to sell power and generate revenue from operations. Further, the terms of the PPAs may expose the company to certain risks that may affect future results of operations and cash flows
Risk
Dependent on electricity grid
Any constraints in the availability of the electricity grid, including the company's inability to obtain access to transmission lines in a timely and cost-efficient manner, could adversely affect its business, results of operations, and cash flows
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 505.0 crore, of 17,474,048 shares. It also consists of a fresh issue of Rs 2,395.0 crore.
The promoters of the company are Mamta Upadhyay, Manoj Kumar Upadhyay, Upadhyay Family Trust, MKU Holdings Private Limited (“MKU Holdings”) and ACME Cleantech Solutions Private Limited (“ACME Cleantech”).
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 275.0 - 289.0.
The IPO application opens on Nov 06, 2024 and closes on Nov 08, 2024.
The minimum lot size for the IPO is 51. The maximum lot size for the IPO is 663.
For all category investors, the minimum application amount for this IPO is Rs. 14,025.0, the maximum value for this IPO is Rs 191,607.0.
This IPO will be allotted on Nov 11, 2024.
The refund will be credited to your account on Nov 12, 2024.
The allotted shares will be credited to your demat on Nov 12, 2024.
ACME Solar Holdings Ltd.’s shares listed on the stock exchanges on Nov 13, 2024.