Acme India Industries Limited IPO — Subscription & GMP
- Price band
- ₹186 – ₹196
- Lot size
- 600
- Issue size
- ₹87.08 Cr
- Bidding
- 30 Sept 2026 → 06 Oct 2026
- Allotment
- —
- Listing
- 09 Oct 2026
Listing outcome
Official exchange pricesNo grey market premium was recorded at the close of bidding, so there is nothing to score this listing against.
Schedule
- 30 Sept 2026IPO open date
- 06 Oct 2026IPO close date
- 07 Oct 2026Allotment date†
- 07 Oct 2026Funds unblock or debit†
- 09 Oct 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsAcme India Industries designs, makes and installs interiors for Indian Railways coaches — from furnishing brand-new coaches to refurbishing old ones and upgrading their toilets. It began as a proprietorship in 2012 and was incorporated as a company in 2021.
How it makes money
Almost all its work is won through railway tenders on IREPS, the Indian Railways e-procurement portal. It earns in four ways:
- Turnkey furnishing of new coaches — designing and fitting interiors at the major coach factories: the Modern Coach Factory in Raebareli, the Integral Coach Factory in Chennai and the Rail Coach Factory in Kapurthala. Work spans LHB coaches, Vande Bharat-type self-propelled units and inspection coaches. Since 2017 it has completed 28 such projects covering 1,610 coaches.
- Refurbishment and upgradation of older LHB and ICF coaches at railway workshops — 1,888 coaches done to June 2026.
- Toilet modernisation — 10,948 units upgraded.
- Component supply — braille signage, fibre-reinforced plastic products, fire-retardant epoxy flooring, doors, berths and hygiene systems.
It manufactures at a 92,000 sq ft unit in Sonipat, Haryana, and has worked across 16 railway zones.
The numbers
- Revenue: ₹263.7 Cr in FY26, after ₹210.0 Cr (FY25) and ₹213.4 Cr (FY24)
- Profit after tax: ₹24.4 Cr in FY26, against ₹16.5 Cr and ₹19.2 Cr
- EBITDA margin: 15.1% in FY26; PAT margin 9.2%
- Return on net worth: 23.5% in FY26, down from 53.9% in FY24 as equity grew
- Net worth: ₹103.6 Cr, against total borrowings of ₹85.2 Cr
- EPS: ₹14.10 for FY26, about 13.9× earnings at the top of the band
Revenue was flat between FY24 and FY25 before rising 26% in FY26.
Where the money goes
The offer pairs a fresh issue with an offer for sale by the promoters. The company's share funds working capital, repayment of borrowings, about ₹6.3 Cr of new plant and machinery, and general corporate purposes.
Worth knowing
- The filing states plainly that the company depends on a single customer — Indian Railways and its affiliates. Railway budgets and tender timing drive the whole business.
- The filing also discloses that its business is seasonal.
- Debt is meaningful at roughly 0.8× net worth, which the fresh issue partly addresses.
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹14.10 | — |
| P/E ratio | 13.90× | — |
| NAV per share | ₹59.94 | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 44 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from BSE · fetched 828 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers (QIBs) | 11.79 L | 16.26 Cr | 137.93× |
| 1(a)Foreign Institutional Investors (FIIs) | — | 2.81 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 1.65 Cr | — |
| 1(c)Mutual Funds | — | 14.03 L | — |
| 2Non Institutional Investors | 12.00 L | 17.41 Cr | 145.11× |
| 2(a)Corporates | — | 27.54 L | — |
| 2(b)Individuals (Other than RIIs) | — | 16.88 Cr | — |
| 2(c)Others | — | 25.51 L | — |
| 3Retail Individual Investors (RIIs) | 20.64 L | 17.65 Cr | 85.50× |
| 3(a)Cut Off | — | — | — |
| 3(b)Price Bids | — | 17.65 Cr | — |
| 4Employee Reserved | — | 0 | — |
| 4(a)Employee (Cut off) | — | — | — |
| 4(b)Employee (Price) | — | — | — |
| 5Reservation PortionShareholder | — | 0 | — |
| 5(a)RPS (Cut off) | — | — | — |
| 5(b)RPS (Price) | — | — | — |
| Total | 44.43 L | 51.32 Cr | 115.51× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹186 → ₹196 · peak 51.32 Cr shares bid
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹186 – ₹196
- Lot size
- 600 shares
- Min. bid quantity
- 1200
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 44.43 L
- Issue size
- ₹87.08 Cr
- Max bid · QIB
- 41.29 L
- Max bid · NII
- 29.50 L
Timeline & process
- Bidding opens
- 30 Sept 2026
- Bidding closes
- 06 Oct 2026
- Allotment
- —
- Listing
- 09 Oct 2026
Intermediaries
- Registrar
- Bigshare Services Private Limited
- Sponsor bank
- KOTAK BANK
- Lead managers
- Hem Securities Limited
- Syndicate members
- https://listing.bseindia.com/Download/E:\inetpub\LISTING\RTA\DocumentsSMEiPO\282795\Syndicate_Member_10._Syndicate_Members_to_the_offer.xlsx