ACME Solar Holdings IPO subscribed 47% on Day 2. GMP falls to 2%
As of 11:09 am, the issue had attracted bids for 2,75,03,790 shares, or 47% of the total issue size of 5,82,03,223 shares. The retail portion of the issue was subscribed 1.57 times, while the non-institutional category's subscription rate stood at 37%. The allocation for qualified institutional bidders was booked at 15%.
The grey market premium (GMP) for ACME Solar Holdings has declined to Rs 5-6, indicating a 2% premium in the unlisted market. On the first day of bidding, the GMP was Rs 10, representing a 3% premium over the issue price.
ACME Solar raised Rs 1,300.5 crore from 58 anchor investors ahead of its IPO, which opened on Wednesday. The company sold 45 million shares at Rs 289 apiece.
Anchor investors included Abu Dhabi Investment Authority, Mirae Asset Midcap Fund, Nippon MF, HDFC MF, Tata Mutual Fund, Tata Small Cap Fund, ICICI Prudential Innovation Fund, and Invesco India Equity Fund.
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