ACME Solar ends
12% lower
on listing day
ACME Solar ends 12% lower on listing day
Updated - November 13, 2024 at 07:39 PM.
Stock ends at ₹253.50 against IPO• Экономика » Финансы » Инвестиции » Первичное публичное предложение price of ₹289 on BSE
By KS Badri Narayanan
Comments
Share
Copy link
Email• Коммуникации » Интернет-коммуникации » Электронная почта
Facebook• Объект организация » Организации по алфавиту » Организации на Me » Meta (компания) » Facebook
• Объект организация » Организации по алфавиту » Организации на Fa » Facebook
Twitter• Объект организация » Организации по алфавиту » Организации на Tw » Twitter, Inc.
Telegram
LinkedIn
WhatsApp
Reddit
READ LATER
Remove See All
Manoj Kumar Upadhyay (left), Chairman & Managing Director, ACME Solar
Holdings and Sriram Krishnan, Chief Business• Экономика » Бизнес Development Officer, NSE, at the
listing ceremony of company shares on Wednesday
Shares of ACME Solar Holdings made a weak listing at the bourses, as the stock
opened in discount at ₹259 on the BSE, down 10.38 per cent, from the issue
price of ₹289. During the day, it tumbled 13.91 per cent to ₹248.80 and
recovered marginally to end at ₹253.50, down 12.28 per cent against IPO• Экономика » Финансы » Инвестиции » Первичное публичное предложение price.
On the NSE, shares of the renewable energy firm listed at ₹251 and ended at
₹255.15, down 11.71 per cent
The IPO• Экономика » Финансы » Инвестиции » Первичное публичное предложение was a combination of a fresh issue of ₹2,395 crore and an
offer-for-sale of ₹505 crore by the promoter ACME Cleantech Solutions.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, said: “While the
company operates in the promising renewable energy sector and has demonstrated
strong growth and improved profitability, the high debt-to-equity ratio and
the overall market sentiment might have influenced the negative listing.”
Investment strategy
Investors who participated in the IPO• Экономика » Финансы » Инвестиции » Первичное публичное предложение should carefully consider their
investment strategy and may want to reassess their holding based on the
company’s future performance and market dynamics, she added.
The issue drew a modest response from qualified institutional buyers (QIBs),
who oversubscribed by 3.54 times; retail investors portion subscribed 3.10
times; and employee segment 1.59 times. The portion of non-institutional
investors, however, remained under-subscribed at 0.97 times.
ACME Solar Holdings raised ₹1,300.5 crore from anchor investors on Tuesday as
part of the IPO• Экономика » Финансы » Инвестиции » Первичное публичное предложение. The company allotted 4.5 crore shares at ₹289 a share to 58
anchor investors. Marquee institutional investors such as Abu Dhabi Investment• Экономика » Финансы » Инвестиции
Authority, Goldman Sachs• Объект организация » Организации по алфавиту » Организации на Go » Goldman Sachs, Morgan Stanley• Объект организация » Организации по алфавиту » Организации на Mo » Morgan Stanley, Nomura, Societe Generale• Объект организация » Организации по алфавиту » Организации на Со » Сосьете Женераль, HSBC
Global, BNP Paribas• Объект организация » Организации по алфавиту » Организации на Bn » Bnp Paribas Funds, CLSA Global, Prudential Hong Kong• Китайская Народная Республика (КНР) » Гонконг » Административное деление Гонконга » Восточный округ Гонконга
• Китайская Народная Республика (КНР) » Гонконг » Восточный округ Гонконга, Eastspring
Investments, Oaks Emerging Umbrella Funds Plc, Lion Global, Great Eastern• Китайская Народная Республика (КНР) » Гонконг » Административное деление Гонконга » Восточный округ Гонконга
• Китайская Народная Республика (КНР) » Гонконг » Восточный округ Гонконга
Life, Copthall Mauritius, Susquehanna Pacific, Citigroup and Integrated Core
Strategies were among the investors who participated in the anchor book.
Among domestic mutual funds, Nippon Life India, HDFC Mutual Fund, ICICI
Prudential MF, Mirae Asset, Tata Mutual Fund, SBI Life Insurance• Страхование, ICICI
Prudential Life, Bandhan MF, Manulife, Invesco India, Baroda BNP Paribas• Объект организация » Организации по алфавиту » Организации на Bn » Bnp Paribas, SBI
General Insurance• Страхование » Генеральный полис, Abakkus Diversified Alpha Fund, Kotak Mahindra Life, and
Edelweiss Life were also allotted shares in the anchor book.
It plans to use the proceeds from the fresh issuance to pay its debt ( ₹1,795
crore) and a portion for general corporate purposes.
Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra
Capital Company, and Motilal Oswal Investment• Экономика » Финансы » Инвестиции Advisors were the issue’s lead
book-running managers, and Kfin Technologies was the registrar.
Comments
SHARE
Copy link
Email• Коммуникации » Интернет-коммуникации » Электронная почта
Facebook• Объект организация » Организации по алфавиту » Организации на Me » Meta (компания) » Facebook
• Объект организация » Организации по алфавиту » Организации на Fa » Facebook
Twitter• Объект организация » Организации по алфавиту » Организации на Tw » Twitter, Inc.
Telegram
LinkedIn
WhatsApp
Reddit
Published on November 13, 2024