ACME Solar has launched their initial public offering (IPO) worth Rs 30 billion.
Their price band is Rs 275 to Rs 289 per equity share and each share has a face value Rs 2 each. The minimum bid allowed is of 51 equity shares and in multiples of 51 equity shares after that. The IPO is a combination of fresh issue of Rs 23.95 billion and an offer of sale of Rs 5.05 billion by ACME Cleantech Solutions. The funds from the fresh issuance, an estimated Rs 17.95 billion will be utilised for investment in subsidiaries for repayment and prepayment, in full or in part, of outstanding borrowings and loans, and general corporate purposes. The bookrunning lead managers are Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital, and Motilal Oswal Investment Advisors. The registrar of the issue is KFin Technologies.