Acme India Industries IPO Day 1: Subscribed 1.76x; QIB demand hits 5.70x

5 min read | Published on 30 Sept 2026, 11:30 AM |Updated on 06 Oct 2026, 05:19 PM

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Ritika DScanX News Team

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Key Highlights

Acme India Industries IPO subscribed 1.76x on Day 1
QIB demand surged to 5.70x by closing
Retail and NII categories remained subdued at 0.17x and 0.24x/0.14x
Issue price band set at ₹186–₹196 per share
Listing scheduled for October 8, 2026

*this image is generated using AI for illustrative purposes only.

Acme India Industries IPO closed on Day 4 with a massive 119.49x overall subscription, as QIB demand surged to 137.60x and bHNI interest hit 240.99x.

Subscription Status

The issue witnessed explosive growth in the final trading session, jumping from 75.91x at 15:15 IST to a final tally of 119.49x by the close. The cumulative data reflects intense bidding activity across all investor categories, particularly among institutions and high-net-worth individuals.

Day	Date	QIB	NII (bHNI)	NII (sHNI)	Retail	Total
Day 1	30-09-2026	5.70x	0.14x	0.24x	0.17x	1.76x
Day 2	01-10-2026	5.70x	0.39x	1.07x	0.48x	2.05x
Day 3	02-10-2026	5.70x	0.39x	1.07x	0.48x	2.05x
Day 4	06-10-2026	137.60x	240.99x	102.55x	76.94x	119.49x

Category-wise Breakdown

The Non-Institutional Investors (NII) segment led the charge, with the High Net Worth Individuals (bHNI) category recording the highest subscription multiple of 240.99x. Qualified Institutional Buyers (QIB) also showed strong conviction, subscribing 137.60 times the offered portion.

Qualified Institutional Buyers (QIB): 137.60x
Non-Institutional Buyers (bHNI): 240.99x
Non-Institutional Buyers (sHNI): 102.55x
Retail: 76.94x
Employees: 0x

Intra-day Timeline on 30-09-2026

The intra-day data highlights the sudden influx of institutional bids between 1:15 PM and 5:15 PM IST.

Time (IST)	QIB	NII (bHNI)	Retail	Total
11:15	0.00x	0.03x	0.03x	0.02x
12:15	0.00x	0.05x	0.05x	0.03x
13:15	1.00x	0.05x	0.06x	0.32x
14:15	1.00x	0.06x	0.08x	0.33x
15:15	5.58x	0.08x	0.09x	1.65x
16:15	5.70x	0.10x	0.12x	1.71x
17:15	5.70x	0.14x	0.17x	1.76x

Offer Details

Company: Acme India Industries
Price Band: ₹186.00000 - ₹196.00000
Issue Size: ₹223200 crore - ₹500000 crore
Min Bid Qty: 1200
Open: 2026-09-30 10:00:00
Close: 2026-10-06 16:00:00

About the Company

Acme India Industries Limited operates in the Indian railway rolling stock sector, specializing in turnkey furnishing of new railway coaches, refurbishment of old coaches, and modernization of toilet facilities. The company has delivered 1,610 coaches on a turnkey basis, refurbished 1,888 coaches, and completed 10,948 toilet upgrades. It maintains an order book of ₹73,797.33 lakhs as of June 30, 2026.

Financial Highlights

The company reported revenue from operations of ₹263.71 crores in FY2026, up from ₹210.00 crores in FY2025. Total profit stood at ₹24.36 crores in FY2026.

Metric	FY2026	FY2025	FY2024
Revenue from Operations (₹ Cr)	263.71	210.00	213.43
Total Profit (₹ Cr)	24.36	16.46	19.21
Total Assets (₹ Cr)	382.79	272.45	217.60

Objects of the Issue

Working Capital: ₹38.00 crores towards long-term working capital requirements.
Debt Repayment: ₹41.00 crores towards repayment or pre-payment of borrowings.
Capex: ₹6.27 crores for purchasing machinery and equipment.
General Corporate Purposes: Balance proceeds subject to a cap of 15% of Gross Proceeds or ₹10 crores.

Will the heavy reliance on QIB demand (5.70x) sustain through the final days of the IPO, or will weak retail interest cap the overall subscription multiple?

How might the company's negative operating cash flows and growing working capital gap impact its ability to execute the ₹737 crore order book post-listing?

What are the potential risks to the stock price on the October 8 listing date given the extreme concentration of revenue from Indian Railways (88-91%)?