ACME Solar Holdings, one of India’s leading solar power companies, faced a weak market debut with shares listing at ₹251 on the National Stock Exchange today, a 13.15% discount to its IPO price band’s upper end of ₹289.
The ₹2,900 crore public issue, comprising fresh equity of ₹2,395 crore and an offer for sale worth ₹505 crore, was open for subscription between November 6-8. The IPO consisted of 82,871,973 fresh shares and 17,474,049 shares in the offer for sale component, with a face value of ₹2 each.
The company had fixed the price band at ₹275-289 per share and a minimum lot size of 51 shares for investors. Employees were offered a discount of ₹27 per share. Following the issue, ACME Solar’s total shareholding has expanded from 522,207,910 to 605,079,883 shares. The company’s shares are now trading on both BSE and NSE.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Please consult a financial advisor before making any investment decisions.
