Acme India Industries IPO Day 3: Subscribed 2.05x; QIB demand stable at 5.7x
- Acme India Industries IPO is subscribed 2.05x overall by Day 3.
- QIBs show strong demand with a 5.7x subscription rate.
- Retail investors have subscribed only 0.48x so far.
- Issue closes on October 6, 2026, with listing expected by 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 02-10-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 5.70x | 0.39x | 0.48x | 2.05x |
| 12:15 | 5.70x | 0.39x | 0.48x | 2.05x |
| 13:15 | 5.70x | 0.39x | 0.48x | 2.05x |
| 14:15 | 5.70x | 0.39x | 0.48x | 2.05x |
| 15:15 | 5.70x | 0.39x | 0.48x | 2.05x |
| 16:15 | 5.70x | 0.39x | 0.48x | 2.05x |
| 17:15 | 5.70x | 0.39x | 0.48x | 2.05x |
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.
How might the significant disparity between QIB and Retail subscription levels influence Acme India Industries' stock price volatility upon its October 8 listing?
Given the company's 91.54% revenue dependency on Indian Railways, what specific policy shifts or budgetary changes in the upcoming fiscal year could materially impact its order book sustainability?
With contingent liabilities exceeding ₹9,400 lakhs, how do analysts anticipate these potential obligations will affect the company's post-IPO balance sheet health and future borrowing capacity?
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