ACME Solar Holdings IPO subscribed 64%

7 Nov 2024 , 03:43 PM

On Thursday, the second day of the bidding, ACME Solar Holdings’ IPO was 64% subscribed through. 39% of people subscribed to the issue on the first day.

3,75,15,790 shares, or 64% of the issue size of 5,82,03,223 shares, have been bid on as of 15:39 pm. Subscription rates for the non-institutional category were 44%, compared to 1.94 times for the retail component of the issue. 31% of the total was reserved for eligible institutional bids.

Prior to its first public offering (IPO), which began on Wednesday, ACME Solar raised Rs 1,300.5 crore from 58 anchor investors. 45 million shares were sold by the business for Rs 289 each.

Abu Dhabi Investment Authority, ICICI Prudential Innovation Fund, Nippon MF, HDFC MF, Tata Mutual Fund, Tata Small Cap Fund, Invesco India Equity Fund, and Mirae Asset Midcap Fund were among the anchor investors.

The IPO’s total value is Rs 2,900 crore, which includes Rs 2,395 crore in new equity shares and Rs 505 crore in an offer for sale (OFS) by the selling stockholders.

Investors may bid for 51 shares in a single lot and then in multiples after the corporation has set a price range of Rs 275-289 per share.

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