Acme India Industries opens at ₹221, 12.76% above IPO price
Business
Acme India Industries kicked off its stock market journey with a bang, opening at ₹221 on the BSE SME platform, about 12.76% higher than its IPO price of ₹196.
This strong start puts the company's value at around ₹518.74 crore.
Acme India IPO oversubscribed 115+
The IPO was a hot ticket, getting subscribed more than 115 times, mostly by big investors.
While it didn't quite hit the unofficial gray market hype of nearly 22% jump, interest was high.
Acme India works closely with Indian Railways to upgrade train interiors and plans to use the IPO funds for growth, new equipment, and paying down debt.