Dalal Street debut goes dim for Acme Solar, lists at 13% discount
Acme Solar shares listing: The stock debuted on the BSE Sensex at Rs 259 per share, marking a 10.3% drop from its issue price of Rs 289 per share.
by Sonu Vivek · India TodayIn Short
- Acme Solar shares list at 13.15% discount on NSE
- Stock opened at Rs 251, below Rs 289 issue price
- Acme Solar is a key player in India's renewable energy
Acme Solar Holdings made a weak debut on Dalal Street, with its shares listing at a 13.15% discount on the National Stock Exchange (NSE) on November 13. The shares opened at Rs 251 per share, falling short of the issue price of Rs 289 per share, disappointing investors who had anticipated a stronger listing.
The stock debuted on the BSE Sensex at Rs 259 per share, marking a 10.3% drop from its issue price of Rs 289 per share.
The IPO of Acme Solar, valued at Rs 2,900 crore, included a fresh issue of shares worth Rs 2,395 crore and an offer-for-sale (OFS) component of Rs 505 crore by Acme Cleantech Solutions.
The price band for the issue was set between Rs 275 and Rs 289 per share. Bidding for the IPO took place from November 6 to November 8, 2024, and the allotment of shares was finalised on November 11.
Established in June 2015, Acme Solar Holdings Ltd has become one of India’s largest producers of renewable electricity, primarily using solar and wind energy. The company has a diverse portfolio of renewable energy projects and is working to expand its capacity further, aligning with India’s goal to grow its renewable energy sector.
India’s renewable energy installations have now reached around 200 GW, with renewable sources—including large hydro projects—contributing about 44% of the country’s total installed capacity. Acme Solar plays a key role in this sector, offering clean energy options and supporting India’s shift towards renewable power.
The IPO of Acme Solar included both a fresh issue, aiming to fund growth and development projects, and an OFS by Acme Cleantech Solutions.