ACME Solar Holdings IPO Details, Financials, Valuation & Peers
Explore ACME Solar Holdings IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
ACME Solar Holdings Limited is one of India’s largest renewable energy independent power producers (IPPs), with a diversified portfolio encompassing solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects. Founded in 2015 to consolidate the ACME Group’s renewable energy ventures, the company has grown from a solar-focused player to an integrated renewable energy company, known for developing, building, owning, and operating utility-scale projects. The company leverages in-house engineering, procurement, and construction (EPC) and operations & maintenance (O&M) capabilities to efficiently execute and maintain its projects. With a total operational capacity of 1,340 MW (1,826 MWp), under-construction contracted and awarded projects of 4,980 MW, and connectivity applications for 3,300 MW, ACME Solar is poised to expand its market presence further. Over the years, it has successfully developed 2,719 MW (3,668 MWp) of solar projects and continues to grow through a mix of organic expansion and strategic divestments.
Key Points:
- Established Leadership: ACME Solar Holdings is among the top 10 renewable energy players in India, with a significant operational capacity of 1,340 MW (1,826 MWp) as of June 2024. The company has been at the forefront of the solar IPP business in India since 2009.
- Portfolio: The company’s portfolio includes solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects, positioning it as a key player in India’s renewable energy landscape.
- Integrated Operations: ACME Solar operates with in-house EPC and O&M teams, allowing for seamless development, execution, and management of utility-scale renewable energy projects.
- Growth Pipeline: In addition to its operational capacity, ACME Solar has a robust pipeline of projects under construction and awarded, totaling 4,980 MW, including solar, wind, hybrid, and FDRE projects.
- Revenue Model: The company generates revenue primarily through long-term power purchase agreements (PPAs) with central and state government-backed entities, ensuring stable cash flows.
- Future Expansion: ACME Solar has secured connectivity for 647 MW and applied for an additional 3,300 MW to support future bids. It is also developing a 600 MW closed-loop pump storage project in Uttar Pradesh.
Objects of the Issue
- Investment in the Subsidiaries for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Subsidiaries
- General Corporate Purposes
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 06 Nov - 08 Nov 2024 |
| IPO Price Band | ₹275 - ₹289 per share |
| Fresh Issue | ₹2,395 crore |
| Offer For Sale | ₹505 crore |
| Total IPO Size | ₹2,900 crore |
| Face Value | ₹2 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 06 Nov 2024 |
| IPO Closing Date | 08 Nov 2024 |
| Basis Of Allotment | 11 Nov 2024 |
| Refunds | 12 Nov 2024 |
| Demat Transfer | 12 Nov 2024 |
| IPO Listing Date | 13 Nov 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Jun 2024 |
|---|---|---|---|---|
| Total Income | 1,562.73 | 1,361.37 | 1,466.27 | 340.01 |
| Total Expenses | 1,789.86 | 1,416.21 | 1,305.53 | 289.76 |
| Net Profit/Loss | 62.01 | -3.17 | 697.78 | 1.39 |
| NPM (*) | 3.97 | -0.23 | 47.59 | 0.41 |
| Total Assets | 10,886.72 | 12,186.95 | 13,399.80 | 13,985.14 |
| Total Liabilities | 8,877.56 | 10,256.49 | 10,808.93 | 12,043.01 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Jun 2024 |
|---|---|---|---|---|
| EPS | 1.12 | -0.06 | 12.55 | 0.03 |
| ROE (%) | 31.87 | 25.34 | 38.83 | 2.93 |
| ROCE (%) | NA | NA | NA | NA |
| D/E Ratio | 3.56 | 3.85 | 2.66 | 3.89 |
| Current Ratio | 1.88 | 2.79 | 2.20 | 2.05 |
| EBITDA MARGIN (%) | 83.36 | 90.55 | 82.56 | 87.75 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| ACME Solar Holdings Limited | 1,319.25 | 23.03 | 12.55 | 26.93 | 49.61 |
| Adani Green Energy Limited | 9,220.0 | 291.7 | 6.20 | 7.22 | 85.86 |
| ReNew Energy Global PLC | 8,194.80 | 48.8 | 9.92 | 3.07 | 332.16 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
IPO Reservation
| Investor Type | Shares Offered |
|---|---|
| Qualified Institutional Buyer (QIB) | Not less than 75% |
| Non-Institutional Investor (NII/HNI) | Not more than 15% |
| Retail Individual Investor (RII) | Not more than 10% |
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 0.16 |
| Non-Institutional Investor (NII/HNI) | 0.34 |
| Retail Individual Investor (RII) | 1.27 |
| Total | 0.41 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
KFin Technologies Limited
Phone: +91 40 6716 2222/ 18003094001
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Company Promoters
- MAMTA UPADHYAY
- MANOJ KUMAR UPADHYAY
- ACME CLEANTECH SOLUTIONS PRIVATE LIMITED
- MKU HOLDINGS PRIVATE LIMITED
- UPADHYAY FAMILY TRUST
Lead Managers
- Nuvama Wealth Management Limited
- ICICI SECURITIES LIMITED
- JM Financial Limited
- Kotak Mahindra Capital Company Limited
- Motilal Oswal Investment Advisors Limited
Company Address
ACME Solar Holdings Limited
Plot No. 152, Sector 44, Gurugram 122 002, Haryana, India
Phone: +91 124 7117000
Email: cs.acme@acme.in
Website: www.acmesolar.in
FAQs
- What is the issue size of the ACME Solar Holdings IPO?The ACME Solar Holdings IPO has an issue size of ₹2,900 crore. This includes a fresh issue of ₹2,395 crore and an offer for sale (OFS) of ₹505 crore.
- What is the price band of the ACME Solar Holdings IPO?The price band for the ACME Solar Holdings IPO is ₹275 - ₹289 per share.
- What are the bidding dates for the ACME Solar Holdings IPO?The ACME Solar Holdings IPO will open for bidding on 06 Nov 2024 and close on 08 Nov 2024.
- What is the allotment date for the ACME Solar Holdings IPO?The allotment date for the ACME Solar Holdings IPO is 11 Nov 2024.
- What is the minimum lot size and investment required for the ACME Solar Holdings IPO?The minimum lot size for the ACME Solar Holdings IPO is 51 shares and the minimum investment required is ₹14,739.
- What is the listing date for the ACME Solar Holdings IPO?The listing date for the ACME Solar Holdings IPO is 13 Nov 2024.
- What is the ACME Solar Holdings IPO grey market premium?The grey market premium (GMP) for the ACME Solar Holdings IPO is currently at ₹5, with an expected listing gain of approximately 1.73%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.