ACME Solar Holdings IPO
ACME Solar Holdings Limited (ACMESOLAR) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 13 November 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +0.9% (likely range -7% to +11%), day's high +14.5%, chance of a gain 51%. Actual: -13.2% at the open, -4.5% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 3,15,27,272 | 11,15,56,023 | 3.54x | |
| NII (HNI) total | 1,57,63,636 | 1,52,68,737 | 0.97x | |
| Big NII (above ₹10 lakh) | 1,05,09,091 | 90,59,793 | 0.86x | |
| Small NII (₹2-10 lakh) | 52,54,545 | 62,08,944 | 1.18x | |
| Retail | 1,05,09,090 | 3,25,50,444 | 3.10x | |
| Employees | 4,03,225 | 6,40,254 | 1.59x | |
| Total | 5,82,03,223 | 16,00,15,458 | 2.75x |
Bids on NSE and BSE together, as published by NSE, as of 08 Nov 2024, 07:00 PM. Shares offered exclude the anchor portion. 18% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to ACME Solar Holdings's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| UTI Asset Management CompanyOct 2020 | 3.34x | 0.93x | 2.32x | 2.31x | ₹2,160 Cr | -9.8% | -4.3% |
| Indian Energy ExchangeOct 2017 | 2.56x | 0.85x | 2.61x | 2.28x | ₹1,426 Cr | -9.1% | +0.6% |
| Eris LifesciencesJun 2017 | 4.68x | 0.45x | 3.51x | 3.29x | ₹1,741 Cr | +1.3% | +4.2% |
| Sagility IndiaNov 2024 | 3.52x | 1.93x | 4.16x | 3.20x | ₹2,107 Cr | +3.5% | +9.6% |
| Krishna Institute of Medical SciencesJun 2021 | 5.26x | 1.89x | 2.89x | 3.86x | ₹2,145 Cr | +22.3% | +28.4% |
| Sona BLW Precision ForgingsJun 2021 | 3.46x | 0.39x | 1.57x | 2.28x | ₹5,667 Cr | +3.4% | +24.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Nuvama Wealth Management | 35 | +11.9% | 66% |
| ICICI Securities | 109 | +21.3% | 69% |
| JM Financial | 109 | +22.8% | 75% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
Offer documents (NSE)
Frequently asked
What is the ACME Solar Holdings IPO price band and lot size? ₹275–289 per share, with a lot of 51 shares, so the smallest retail bid is ₹14,739.
How many times has it been subscribed? 2.75x overall: QIB 3.54x, NII 0.97x, retail 3.10x, employees 1.59x.
How did it list? It opened at ₹251, -13.2% against the issue price of ₹289, and closed its first day -12.4%.
