ACME Solar Holdings IPO opens today: Should you subscribe to it?
Gurugram-based ACME Solar is selling its shares in the range of Rs 275-289 per share with a lot size of 51 equity shares between November 6-8 to raise a total of Rs 2,900 crore.
- Nov 6, 2024,
- Updated Nov 6, 2024 10:08 AM IST
The initial public offering (IPO) of ACME Solar Holdings opens for bidding on Wednesday, November 6. The company is offering its shares in the price band of Rs 275-289 per share, for investors can apply for a minimum of 51 equity shares and its multiples thereafter. Issue shall close for bidding on Friday, November 8.
ACME Solar has an extensive portfolio across various renewable energy technologies and is constantly growing its portfolio by adding to its capacity. It has an in-house approach to end-to-end execution, completion and maintenance of its projects. This helps the company improve its efficiency and manage costs, boosting revenue and strengthening reliability, said StoxBox.
"The current issue is priced at a P/E ratio of 23.03 times on the upper price band based on FY24 earnings, which is relatively lower than its peers. Therefore, we recommend a 'subscribe' rating with a medium to long-term investment perspective for this issue," StoxBox added.
The initial public offering (IPO) of ACME Solar Holdings opens for bidding on Wednesday, November 6. The company is offering its shares in the price band of Rs 275-289 per share, for investors can apply for a minimum of 51 equity shares and its multiples thereafter. Issue shall close for bidding on Friday, November 8.
ACME Solar has an extensive portfolio across various renewable energy technologies and is constantly growing its portfolio by adding to its capacity. It has an in-house approach to end-to-end execution, completion and maintenance of its projects. This helps the company improve its efficiency and manage costs, boosting revenue and strengthening reliability, said StoxBox.
"The current issue is priced at a P/E ratio of 23.03 times on the upper price band based on FY24 earnings, which is relatively lower than its peers. Therefore, we recommend a 'subscribe' rating with a medium to long-term investment perspective for this issue," StoxBox added.