Acme India Industries (SME IPO)
📅 Dates: 30 Sep - 06 Oct • 💰 Issue Size: 62,08,800 shares (agg. up to ₹122 Cr)Complete guide to Acme India Industries SME IPO: latest Grey Market Premium (GMP), live bidding subscription status, price band, lot size, financial report, and investment analysis.
📊 Overview & Key Highlights
| Parameter | Details |
|---|---|
| Issue Type | SME IPO (SME) |
| Issue Dates | 30 Sep - 06 Oct |
| Price Band | ₹186 to ₹196 |
| Total Issue Size | 62,08,800 shares (agg. up to ₹122 Cr) |
| Minimum Market Lot | 600 shares |
| Listing Price (Debut) | ₹221.00 (+₹25.00 (+12.76%) 🚀) |
| Subscription Status | 124.23x (Final / Bidding Closed) |
| Investor Demand Rating | ⭐⭐⭐⭐⭐ (5/5 - Blockbuster Demand) |
📈 Live Subscription Demand
| Category | Subscription Multiplier (x) |
|---|---|
| Qualified Institutional (QIB) | 137.93x |
| Non-Institutional / HNI | 196.27x |
| Retail Individual (RII) | 85.50x |
| Total Subscription | 124.23x (Updated: 09 Oct, 17:35) |
🎯 Investment Analysis & Verdict
📌 Business Model & Revenue Streams
Acme India Industries builds and installs the entire interior fit-out for new railway coaches, including seats, flooring, and sanitary ware, while also refurbishing existing stock and upgrading toilet facilities. Their sole customer is Indian Railways and its various zones, meaning all revenue comes from government contracts for new builds and maintenance upgrades.🚀 Key Strengths & Growth Drivers
• Massive Order Book: With a backlog of over ₹402 crore as of August 2025, the company has significant revenue visibility, reducing the immediate risk of idle capacity.• Integrated Manufacturing: Owning two large facilities in Sonipat with in-house labs allows them to control quality and costs better than pure assemblers, which is critical for meeting strict railway safety standards.
• Sector Tailwinds: The ongoing push for Vande Bharat and LHB coach production, coupled with the government's focus on modernizing sanitation and accessibility (Braille signage), provides a steady stream of demand.
⚠️ Key Risks & Red Flags
• Extreme Client Concentration: Relying 100% on Indian Railways creates a single point of failure; any delay in government payments or contract renewals directly hits cash flow.• SME Liquidity Constraints: As an SME IPO, the stock may suffer from low trading volumes post-listing, making it difficult for retail investors to exit their positions quickly if the price drops.
• Working Capital Pressure: Large-scale railway projects often involve long payment cycles, which can strain the company’s working capital and force them to rely on debt to fund operations.
🎯 Retail Verdict
This is a niche play with strong fundamentals but high execution risk due to its single-client dependency. It is not a typical "listing pop" candidate given the SME segment's volatility and the specific nature of government contracts. Retail investors should exercise caution and only participate if they have a high risk appetite for illiquid, government-linked SME stocks.📅 Tentative Timetable
| Event | Tentative Date |
|---|---|
| IPO Open | Wed, Sep 30, 2026 |
| IPO Close | Tue, Oct 6, 2026 |
| Allotment | Wed, Oct 7, 2026 |
| Refund | Thu, Oct 8, 2026 |
| Credit of Shares | Thu, Oct 8, 2026 |
| Listing | Fri, Oct 9, 2026 |
💼 Market Lot & Investment Sizing
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 1200 | ₹2,35,200 |
| Individual investors (IND) (Max) | 2 | 1200 | ₹2,35,200 |
| S-HNI (Min) | 3 | 1800 | ₹3,52,800 |
| S-HNI (Max) | 8 | 4800 | ₹9,40,800 |
| B-HNI (Min) | 9 | 5400 | ₹10,58,400 |
💰 Financial Summary
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Assets | 272.45 | 217.60 |
| Total Income | 213.45 | 215.02 |
| Profit After Tax | 16.46 | 19.21 |
| EBITDA | 28.76 | 29.57 |
| NET Worth | 55.37 | 35.63 |
| Reserves and Surplus | 38.58 | 27.35 |
| Total Borrowing | 81.17 | 69.80 |
| Amount in ₹ Crore |
🏢 About Acme India Industries
Acme India Industries focuses on railway interior solutions. It designs, manufactures, and installs turnkey furnishings for new coaches—including LHB, Vande Bharat, inspection and overhead‑equipment coaches—refurbishes existing LHB and ICF coaches, modernises toilet facilities, and supplies a broad portfolio of components such as Braille signage, FRP/aluminium‑polymer sanitary ware, epoxy flooring, FRP doors, seat and berth parts, hygiene accessories, fire‑retardant coatings and vacuum circuit breakers. The company operates two integrated manufacturing facilities in Sonipat, Haryana, covering 116,000 sq ft with in‑house labs and testing, and serves Indian Railways and its zones. To date it has delivered over 1,610 new coaches, refurbished 1,888 coaches, completed more than 10,948 toilet upgrades, and holds an order book of ₹40,208.20 lakhs as of 31 August 2025.💬 Community Discussion & Views
Are you planning to apply for the Acme India Industries IPO? Share your bidding strategy, allotment status, or listing expectations with fellow investors in the replies below!👉 Browse all upcoming Mainboard & SME IPOs on UNP
Disclaimer: All IPO details provided above are for educational and informational purposes only. Readers are advised to consult their financial advisors and review the Red Herring Prospectus (RHP) before investing.
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