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ACME Solar

ACME Solar is a leading player in the renewable energy sector, focusing on a broad range of projects including solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE). The company is involved in the entire lifecycle of utility-scale renewable energy projects—right from development and construction to ownership, operation, and maintenance—through its EPC division and in-house O&M team. ACME Solar generates revenue by providing electricity to government-backed entities at both the state and central levels.

As of July 2, 2024, ACME Solar has successfully installed 2,719 MW of solar power capacity. It currently manages solar projects with a combined capacity of 1,320 MW, while also undertaking new projects. These ongoing projects include 1,500 MW of solar power and 150 MW of wind power, totaling 1,650 MW. Additionally, it is working on 2,380 MW of awarded projects, which comprise 300 MW of solar, 830 MW of hybrid, and 1,250 MW of FDRE power projects, all of which are under various stages of construction as of March 31, 2024.

Moreover, ACME Cleantech, one of its subsidiaries, has entered into a memorandum of understanding (MoU) with the Government of Uttar Pradesh to develop a 600 MW closed-loop pump storage facility, to be executed through ACME Urja Two Private Limited, a special purpose vehicle (SPV). As of March 31, 2024, the company has a workforce of 214 permanent employees.

ACME Solar IPO Details

Signature Global IPO Details
ACME Solar IPO Dates
6 – 8 November 2024
ACME Solar Issue Price
INR 275 – 289 per share
Fresh issue
INR 2,395 crore
Offer For Sale
INR 505 crore
Total IPO Size
INR 2,900 crore
Minimum bid (size)
51 shares (INR 14,739)
Face Value
INR 2 per share
Retail Allocation
10%
Listing On
NSE, BSE

ACME Solar Financial Performance

Signature Global Financial Performance

FY22

FY23

FY24

Revenue

1,487.90

1,294.90

1,319.25

Expenses

1,789.86

1,416.21

1,305.49

Net income

62.01

(3.17)

698.23

Margin (%)

4.17

(0.24)

52.93

Figures in INR Crore unless specified otherwise

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