Shares of ACME Solar Holdings Ltd made a disappointing debut on the stock market on Wednesday, listing at a significant discount to its issue price of Rs 289.

The stock opened at Rs 259 on the Bombay Stock Exchange (BSE), marking a drop of 10.38% from the issue price. It continued to decline, falling by 11.76% to Rs 255. At the National Stock Exchange (NSE), the shares listed at Rs 251, reflecting a drop of 13.14%.

Weak Market Response

The weak market debut has raised concerns among investors, as ACME Solar, a major player in the renewable energy sector, had hoped for a stronger market reception. Despite being a key player in the fast-growing green energy space, the stock’s poor debut indicates a lukewarm response from the market.

This sluggish start comes at a time when the renewable energy sector is gaining traction, with increased government focus on clean energy. However, the initial market response could pose challenges for ACME Solar as it looks to navigate the stock market and achieve growth.