Acme India Industries IPO Day 2: Subscribed 1.92x; retail demand jumps 55.6%
- Acme India Industries IPO subscribed 1.92x on Day 2
- Retail bids surged 55.6% to reach 0.42x
- QIB participation remained steady at 5.7x
- Issue closes on October 6, 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
Retail demand accelerated sharply after 2pm, jumping from 0.36x to 0.42x in the final two hours. bHNI interest also ticked up, contributing to the overall lift in the issue's subscription multiple. The total subscription moved from 1.82x at 11:15 IST to 1.92x at 16:15 IST.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 5.70x | 0.24x | 0.27x | 1.82x |
| 12:15 | 5.70x | 0.27x | 0.29x | 1.84x |
| 13:15 | 5.70x | 0.30x | 0.33x | 1.86x |
| 14:15 | 5.70x | 0.32x | 0.36x | 1.89x |
| 15:15 | 5.70x | 0.32x | 0.40x | 1.91x |
| 16:15 | 5.70x | 0.33x | 0.42x | 1.92x |
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 surge in retail interest during the final hours of Day 2 sustain momentum through the remaining subscription days to push the overall multiple above 3x?
How might the significant gap between QIB demand (5.7x) and retail participation influence the final price band selection, potentially favoring the upper limit?
Given the reliance on institutional backing, what are the potential post-listing volatility risks if QIBs engage in profit-taking while retail investors remain under-subscribed?
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