2 weeks Ago
The shares of Acme Solar Holdings will debut at the bourses today. Ahead of the listing, the company's shares were trading with a discounted GMP of Rs 4 in the grey market. Considering the upper price band of Rs 289, the current GMP indicates a negative premium over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. Acme operates in a promising sector with a focus on renewable energy sources. The company has demonstrated strong growth and improved profitability in recent times.
However, analysts said the high debt-to-equity ratio remains a concern. "The IPO 's valuation appears reasonable, but the current market sentiment and the company's historical financial performance may influence the listing outcome," said Shivani Nyati, Head of Wealth, Swastika Investmart. Stock Trading Derivative Analytics Made Easy By - Vivek Bajaj, Co Founder- Stockedge and Elearnmarkets View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.
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Acme Solar Holdings is an Indian electricity producer established in June 2015, focussing on renewable energy sources. The company aims to advance clean energy solutions in India, contributing to the goal of achieving net zero emissions. It specialises in innovative green technologies, including the production of green ammonia.
The company has demonstrated impressive financial growth . For the fiscal year ending 31 March 2024, the company reported revenue from operations of Rs 470.84 crore, up from Rs 468.
59 crore in FY23. The profit after tax was Rs 419.56 crore, against a net loss of Rs 30.
5 crore in FY23. Nuvama Wealth Management , ICICI Securities, JM Financial , Kotak Mahindra Capital Company and Motilal Oswal Investment Advisors acted as the book-running lead managers (BRLM) to the issue. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
