ACME Solar Holdings IPO vs Garuda Construction and Engineering IPO

Comparision between ACME Solar Holdings IPO and Garuda Construction and Engineering IPO.

IPO Details

ACME Solar Holdings IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Garuda Construction and Engineering IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	ACME Solar Holdings IPO	Garuda Construction and Engineering 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	Corpwis Advisors Private Limited
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 Garuda Construction and Engineering IPO is up to ₹264.10 Cr. The final issue price of ACME Solar Holdings IPO is ₹289.00 per share and of Garuda Construction and Engineering IPO is ₹95.00 per share.

	ACME Solar Holdings IPO	Garuda Construction and Engineering IPO
Face Value	₹2 per share	₹5 per share
Issue Price (Lower)	₹275.00 per share	₹90.00 per share
Issue Price (Upper)	₹289.00 per share	₹95.00 per share
Issue Price (Final)	₹289.00 per share	₹95.00 per share
Discount (Retail)
Discount (Employee)	₹27.00 per share
Market Lot Size	51 shares	157 shares
Fresh Issue Size	8,28,71,973 shares	1,83,00,000 shares
Fresh Issue Size (Amount)	up to ₹2,395.00 Cr	up to ₹173.85 Cr
OFS Issue Size	1,74,74,049 shares	95,00,000 shares
OFS Issue Size (Amount)	up to ₹505.00 Cr	up to ₹90.25 Cr
Issue Size Total	10,03,46,022 shares	2,78,00,000 shares
Issue Size Total (Amount)	up to ₹2,900.00 Cr	up to ₹264.10 Cr

IPO Timetable

ACME Solar Holdings IPO opens on Nov 06, 2024, while Garuda Construction and Engineering IPO opens on Oct 08, 2024. The closing date of ACME Solar Holdings IPO and Garuda Construction and Engineering IPO is Nov 08, 2024, and Oct 10, 2024, respectively.

	ACME Solar Holdings IPO	Garuda Construction and Engineering IPO
Anchor Bid Date	Nov 05, 2024	Oct 07, 2024
Issue Open	Nov 06, 2024	Oct 08, 2024
Issue Close	Nov 08, 2024	Oct 10, 2024
Basis Of Allotment (Tentative)	Nov 11, 2024	Oct 11, 2024
Initiation of Refunds (Tentative)	Nov 12, 2024	Oct 14, 2024
Credit of Share (Tentative)	Nov 12, 2024	Oct 14, 2024
Listing date (Tentative)	Nov 13, 2024	Oct 15, 2024
Anchor Lockin End date 1	Dec 11, 2024	Nov 10, 2024
Anchor Lockin End date 2	Feb 09, 2025	Jan 09, 2025

Financials

ACME Solar Holdings IPO P/E ratio is 21.63, as compared to Garuda Construction and Engineering IPO P/E ratio of 19.49.

ACME Solar Holdings IPO

Garuda Construction and Engineering 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

Garuda Construction and Engineering Limited Financial Information (Restated)

Garuda Construction and Engineering Limited's revenue decreased by -4% and profit after tax (PAT) dropped by -11% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Apr 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	234.84	228.49	176.35	111.03
Revenue	11.88	154.47	161.02	77.03
Profit After Tax	3.5	36.44	40.8	18.78
Net Worth	122.51	119.01	82.61	41.79
Reserves and Surplus	85.16	81.65	70.13	29.34
Total Borrowing	0.15	0.15	0.19	11.99
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

100.00%

96.81%

Promoter Shareholding (Post-Issue)

83.41%

67.56%

P/E Ratio

21.63

19.49

Market Cap

₹17486.81 Cr.

₹883.90 Cr.

ROE

2.93%

36.14%%

ROCE

46.69%%

Debt/Equity

3.89

EPS

₹13.36

₹4.87

RoNW

0.07%

30.62%%

Shares Offered

In the ACME Solar Holdings IPO retail investors (RII) are offered 1,00,00,000 shares while in Garuda Construction and Engineering 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 60,04,862 shares in Garuda Construction and Engineering IPO.

	ACME Solar Holdings IPO	Garuda Construction and Engineering IPO
Anchor Investor Reserveration	4,50,00,000 shares	78,95,138 shares
Market Maker Reserveration
QIB	3,00,00,000 shares	60,04,862 shares
NII	1,50,00,000 shares	41,70,000 shares
RII	1,00,00,000 shares	97,30,000 shares
Employee	3,46,021 shares	0 shares
Others
Total	5,53,46,021 shares	1,99,04,862 shares

Bids Received (Subscription)

ACME Solar Holdings IPO subscribed 2.89x in total, whereas Garuda Construction and Engineering IPO subscribed 7.55x.

	ACME Solar Holdings IPO	Garuda Construction and Engineering IPO
QIB (times)	3.72x	1.24x
NII (times)	1.02x	9.03x
Big NII (times)	0.91x	7.93x
Small NII (times)	1.24x	11.23x
RII (times)	3.25x	10.81x
Employee (times)	1.85x
Other (times)
Total (times)	2.89x	7.55x

Compare with others

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

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