ACME Solar Holdings IPO: Share Allotment To Be Finalised Today, GMP Flat; How To Check Status?

The allotment of ACME Solar Holdings Ltd's IPO shares is expected to be finalized today, November 11, following a successful close of the public subscription period from November 6 to November 8. As the allotment date arrives, investors are keen to find out if they've secured shares in this green energy company's offering. The allotment will be determined by ACME Solar today, and eligible bidders should see shares credited to their demat accounts by Tuesday, November 12. Unsuccessful bidders, meanwhile, can expect refunds on the same day.

The ACME Solar IPO has garnered considerable interest, with the company aiming to raise Rs 2,900 crore at the upper end of the price band, set between Rs 275 and Rs 289 per share. The public issue comprised a fresh issue of 8.29 crore equity shares, worth approximately Rs 2,395 crore, and an offer-for-sale (OFS) of 1.75 crore shares, adding an additional Rs 505 crore from existing shareholders.

ACME Solar IPO Subscription Details

The IPO closed with an overall subscription rate of 2.75 times, indicating solid demand across different investor categories. The Qualified Institutional Buyers (QIBs) segment was especially active, subscribing to their allocated portion 3.54 times. Retail investors also displayed strong interest, subscribing 3.10 times over, while the Non-Institutional Investors (NII) category saw a subscription rate of 97%, slightly below full allocation.

How to Check ACME Solar IPO Allotment Status

Investors who participated in the IPO can easily check their allotment status online through various platforms, including the BSE, NSE, and Kfin Technologies websites. Here's a step-by-step guide on how to check the status:

Checking Allotment Status on BSE:

Visit the BSE allotment status page at https://www.bseindia.com/investors/appli_check.aspx.
Select 'Equity' as the Issue Type.
Choose 'ACME Solar Holdings Limited' from the dropdown menu.
Enter either your Application Number or PAN.
Complete the CAPTCHA and click 'Search' to view your allotment status.

Checking Allotment Status on Kfin Technologies:

Go to the Kfin Technologies allotment portal at https://kosmic.kfintech.com/ipostatus/.
Select 'ACME Solar Holdings Limited' from the IPO dropdown menu.
Enter your Application Number, Demat Account, or PAN, based on your preference.
Enter the CAPTCHA code and click 'Submit' to view your allotment results.

ACME Solar IPO Grey Market Premium (GMP)

Despite the solid subscription numbers, ACME Solar's IPO is showing a flat grey market premium (GMP) as of today, with no premium or discount to the issue price. Currently trading at a GMP of Rs 0, the ACME Solar shares are estimated to list close to their IPO price of Rs 289. While a zero GMP might indicate a cautious outlook from grey market investors, it does not necessarily predict the performance on the official listing day. Market analysts suggest that the current GMP reflects market stability and a neutral sentiment as the IPO approaches its listing date on November 13.

ACME Solar IPO Listing Details

ACME Solar Holdings Ltd is scheduled to list its equity shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, November 13. Given the stable GMP and the strong interest from institutional and retail investors alike, market watchers anticipate a steady opening for ACME Solar on its debut.

The ACME Solar IPO was managed by prominent financial institutions serving as book-running lead managers, including Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital Company, and Motilal Oswal Investment Advisors. Kfin Technologies has acted as the IPO registrar, handling allotments and investor services for this public offering.