Acme Solar Debuts Weak on Dalal Street, Lists at 13% Discount

Acme Solar Holdings had a subdued market debut, with shares listing at a 13.15% discount on the NSE at Rs 251 per share, well below its issue price of Rs 289. On the BSE Sensex, the stock opened at Rs 259, reflecting a 10.3% drop from its issue price, disappointing investors who expected a stronger showing.

The Acme Solar IPO, valued at Rs 2,900 crore, included a fresh share issue worth Rs 2,395 crore and an Offer for Sale (OFS) component of Rs 505 crore from Acme Cleantech Solutions. The IPO’s price range was set between Rs 275 and Rs 289 per share, with bidding running from November 6 to 8, and share allotments finalized on November 11.

Founded in June 2015, Acme Solar is one of India’s largest renewable energy producers, focused on solar and wind power, with a diverse portfolio that supports India’s renewable energy goals. Renewable sources now contribute approximately 44% of India’s total installed capacity, with installations nearing 200 GW. Acme Solar’s IPO proceeds will primarily support expansion and development projects, further advancing India’s shift towards clean energy.