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Though the ACME Solar Holdings IPO is likely to be listed at a discount, an analyst said investors should exercise caution and consider the potential for volatility in the short term.
ACME Solar Holdings IPO Listing.
The ACME Solar Holdings IPO listing is set to take place on Wednesday. According to market observers, its unlisted shares are trading below its listing price of Rs 289 apiece in the grey market, signalling strong negative sentiments. Though the IPO is likely to be listed at a discount, an analyst said investors should exercise caution and consider the potential for volatility in the short term.
The ACME Solar Holdings IPO allotment was finalised on November 11. Investors can check their allotment status online on the websites of BSE and NSE as well as on registrar Kfin Technologies’ portal.
The initial public offering, which was opened for public subscription between November 6 and November 8, received a 2.89 times subscription garnering bids for 16,00,12,296 shares as against the 5,53,46,021 shares on offer. The price band of the ACME Solar Holdings IPO was fixed at Rs 275 and Rs 289 apiece.
ACME Solar Holdings IPO GMP Today
According to market observers, unlisted shares of ACME Solar Holdings Ltd continue to trade negatively in the grey market. Its GMP currently stands at (-) 1.38 per cent, strongly indicating a listing at a discount.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
ACME Solar Holdings IPO: What Should Investors Do Post-Listing?
Shivani Nyati, head of wealth at Swastika Investmart, said, “Investors should exercise caution and consider the potential for volatility in the short term. While the company’s long-term growth prospects are encouraging, the near-term market dynamics and the impact of external factors could influence the stock’s performance post-listing.”
Acme Clean Energy 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, a 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, she added.
