ACME Solar Holdings IPO vs Waaree Energies IPO

Comparision between ACME Solar Holdings IPO and Waaree Energies IPO.

IPO Details

ACME Solar Holdings IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Waaree Energies IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	ACME Solar Holdings IPO	Waaree Energies IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Nuvama Wealth Management Limited ICICI Securities Limited Jm Financial Limited Kotak Mahindra Capital Company Limited Motilal Oswal Investment Advisors Limited	Axis Capital Limited Iifl Securities Ltd Jefferies India Private Limited Nomura Financial Advisory And Securities (India) Pvt Ltd SBI Capital Markets Limited Intensive Fiscal Services Private Limited Iti Capital Ltd
Registrar	Kfin Technologies Limited	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of ACME Solar Holdings IPO is up to ₹2,900.00 Cr whereas the issue size of the Waaree Energies IPO is up to ₹4,321.44 Cr. The final issue price of ACME Solar Holdings IPO is ₹289.00 per share and of Waaree Energies IPO is ₹1,503.00 per share.

	ACME Solar Holdings IPO	Waaree Energies IPO
Face Value	₹2 per share	₹10 per share
Issue Price (Lower)	₹275.00 per share	₹1,427.00 per share
Issue Price (Upper)	₹289.00 per share	₹1,503.00 per share
Issue Price (Final)	₹289.00 per share	₹1,503.00 per share
Discount (Retail)
Discount (Employee)	₹27.00 per share
Market Lot Size	51 shares	9 shares
Fresh Issue Size	8,28,71,973 shares	2,39,52,095 shares
Fresh Issue Size (Amount)	up to ₹2,395.00 Cr	up to ₹3,600.00 Cr
OFS Issue Size	1,74,74,049 shares	48,00,000 shares
OFS Issue Size (Amount)	up to ₹505.00 Cr	up to ₹721.44 Cr
Issue Size Total	10,03,46,022 shares	2,87,52,095 shares
Issue Size Total (Amount)	up to ₹2,900.00 Cr	up to ₹4,321.44 Cr

IPO Timetable

ACME Solar Holdings IPO opens on Nov 06, 2024, while Waaree Energies IPO opens on Oct 21, 2024. The closing date of ACME Solar Holdings IPO and Waaree Energies IPO is Nov 08, 2024, and Oct 23, 2024, respectively.

	ACME Solar Holdings IPO	Waaree Energies IPO
Anchor Bid Date	Nov 05, 2024	Oct 18, 2024
Issue Open	Nov 06, 2024	Oct 21, 2024
Issue Close	Nov 08, 2024	Oct 23, 2024
Basis Of Allotment (Tentative)	Nov 11, 2024	Oct 24, 2024
Initiation of Refunds (Tentative)	Nov 12, 2024	Oct 25, 2024
Credit of Share (Tentative)	Nov 12, 2024	Oct 25, 2024
Listing date (Tentative)	Nov 13, 2024	Oct 28, 2024
Anchor Lockin End date 1	Dec 11, 2024	Nov 22, 2024
Anchor Lockin End date 2	Feb 09, 2025	Jan 21, 2025

Financials

ACME Solar Holdings IPO P/E ratio is 21.63, as compared to Waaree Energies IPO P/E ratio of 30.87.

ACME Solar Holdings IPO

Waaree Energies IPO

Financial

ACME Solar Holdings Limited Financial Information (Restated Consolidated)

ACME Solar Holdings Limited's revenue increased by 7.71% and profit after tax (PAT) rose by 22084.28% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	13,985.14	13,394.13	12,186.95	10,887.62
Revenue	340.01	1,466.27	1,361.37	1,562.73
Profit After Tax	1.39	697.78	-3.17	62.01
Net Worth	1,942.12	2,590.87	1,900.56	1,908.76
Reserves and Surplus	1,837.68	1,836.43	1,146.12	1,154.32
Total Borrowing	9,319.91	8,217.59	8,657.35	7,563.60
Amount in ₹ Crore

Waaree Energies Limited Financial Information (Restated Consolidated)

Waaree Energies Limited's revenue increased by 69.56% and profit after tax (PAT) rose by 154.73% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	11,989.48	11,313.73	7,419.92	2,237.40
Revenue	3,496.41	11,632.76	6,860.36	2,945.85
Profit After Tax	401.13	1,274.38	500.28	79.65
Net Worth	4,471.71	4,074.84	1,826.02	427.13
Reserves and Surplus	4,221.69	3,825.00	1,594.92	230.43
Total Borrowing	261.24	317.32	273.48	313.08
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

100.00%

71.80%

Promoter Shareholding (Post-Issue)

83.41%

64.30%

P/E Ratio

21.63

30.87

Market Cap

₹17486.81 Cr.

₹42939.36 Cr.

ROE

2.93%

8.79%%

ROCE

9.45%%

Debt/Equity

3.89

0.06

EPS

₹13.36

₹48.69

RoNW

0.07%

8.81%%

Shares Offered

In the ACME Solar Holdings IPO retail investors (RII) are offered 1,00,00,000 shares while in Waaree Energies IPO retail investors are offered 1,00,00,000 shares. Qualified institutional buyers (QIB) are offered 3,00,00,000 shares in ACME Solar Holdings IPO and 56,63,925 shares in Waaree Energies IPO.

	ACME Solar Holdings IPO	Waaree Energies IPO
Anchor Investor Reserveration	4,50,00,000 shares	84,95,887 shares
Market Maker Reserveration
QIB	3,00,00,000 shares	56,63,925 shares
NII	1,50,00,000 shares	42,47,945 shares
RII	1,00,00,000 shares	99,11,869 shares
Employee	3,46,021 shares	4,32,468 shares
Others
Total	5,53,46,021 shares	2,02,56,207 shares

Bids Received (Subscription)

ACME Solar Holdings IPO subscribed 2.89x in total, whereas Waaree Energies IPO subscribed 79.44x.

	ACME Solar Holdings IPO	Waaree Energies IPO
QIB (times)	3.72x	215.03x
NII (times)	1.02x	65.25x
Big NII (times)	0.91x	71.32x
Small NII (times)	1.24x	53.10x
RII (times)	3.25x	11.27x
Employee (times)	1.85x	5.45x
Other (times)
Total (times)	2.89x	79.44x

Compare with others

ACME Solar Holdings IPO	Waaree Energies IPO
BlackBuck IPO	Sagility India IPO
Avanse Financial Services IPO	ACME Solar Holdings IPO
NTPC Green Energy IPO	Swiggy IPO
Niva Bupa Health Insurance IPO	Godavari Biorefineries IPO
Sagility India IPO	Deepak Builders & Engineers IPO
Swiggy IPO	Garuda Construction and Engineering IPO
Godavari Biorefineries IPO	Afcons Infrastructure IPO
Deepak Builders & Engineers IPO	Hyundai Motor IPO
Waaree Energies IPO	Diffusion Engineers IPO
Garuda Construction and Engineering IPO	Manba Finance IPO

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