ACME Solar Holdings made a weak debut on the bourses, listing at Rs 251 on NSE, a 13.15 per cent discount to its IPO price of Rs 289.

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On BSE, the stock opened slightly higher at Rs 259, still down over 10 per cent from the issue price.

Shares of ACME Solar Holdings Ltd, a prominent player in India's renewable energy sector, debuted on the stock exchanges on Wednesday, November 13. The stock opened at Rs 251 on the NSE, marking a 13.15% discount to its IPO price of Rs 289. Similarly, on the BSE, the shares are listed at Rs 259, reflecting a discount of 10.38%. Despite the initial weakness, ACME Solar's stock gained momentum, rising 8.9% to Rs 273.4 on NSE shortly after the market opened. By 10:14 am, the market capitalization stood at Rs 16,531 crore, with shares up 8.84% at Rs 273.2.

The Rs 2,900 crore IPO, which had a price band of Rs 275-Rs 289 per share, included both a fresh issue worth Rs 2,395 crore and an offer-for-sale (OFS) of Rs 505 crore. The IPO received robust demand, subscribing 2.75 times overall, with strong interest from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs).

The funds raised will primarily be used to repay borrowings and for general corporate purposes, a step aimed at strengthening the company’s financial position. ACME Solar, which manages large-scale renewable projects in India, aims to continue its expansion in the rapidly growing renewable energy sector.