Mumbai, November 06, 2024: AMCE Solar Holdings Limited is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (“FDRE”) projects, has garnered Rs. 1300.50 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, November 06, 2024. The company informed the bourses that it allocated 4,50,00,000 equity shares at Rs. 289 per share on Tuesday, November 05, 2024, to anchor investors.
Top Foreign and Domestic Institutions who participated in the anchor amongst others were Nippon MF, HDFC MF, ICICI Prudential MF, Abu Dhabi Investment Authority, TATA MF, Mirae MF, HSBC Global Investment Fund , SBI Life Insurance, ICICI Prudential Life Insurance, BNP Paribas Energy Transition Fund, BNP Paribas Funds Emerging Markets Climate Solutions, TT Emerging Market Fund, Bandhan MF, East Spring Investments, Manulife Global, Invesco India Equity Fund, Value Quest, Baroda BNP MF, SBI General, Abakkus Fund, Fiera Capital, Kotak Mahindra Life, Lion Global Fund, Edelweiss MF, Canara HSBC Life, Edelweiss Life Insurance.
Out of the total allocation of 4,50,00,000 equity shares to the anchor investors, 150,03,690 equity shares were allocated to 8 domestic mutual funds through a total of 17 schemes amounting to Rs. 433.6 crore (approx.) i.e. 33.34% of the Total Anchor Book Size.
Nuvama Wealth Management Limited, ICICI Securities Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.
RHP Link: https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20241105-54
IPO Details
The IPO is a mix of fresh of up to Rs 2395 crore and an offer for sale of up to Rs 505 crore by ACME Cleantech Solutions Private Limited, the Promoter Selling Shareholder. The offer includes reservation for eligible employees bidding in the employee reservation process.
The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, November 06, 2024, and closes on Thursday, November 08, 2024. The price band for the Offer has been determined at Rs 275 – Rs 289 per equity share.
The IPO will fetch Rs 2,900 crore at the upper end of the price band.
Investors can bid for a minimum of 51 equity shares and in multiples of 51 equity shares thereafter.
The offer is being made through the book-building process, wherein not less than 75% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the net offer shall be available for allocation to non-institutional investors, and
not more than 10% of the net offer shall be available for allocation to retail individual bidders.
