Acme India Industries IPO Analysis & Review

Quick Answers

What is the Acme India Industries IPO GMP today? The Acme India Industries IPO GMP is ₹30 as of 30/9/2026, 2:05:29 pm. The IPO price band is ₹186 - ₹196. GMP represents an unofficial grey-market indication and does not guarantee the listing price.

When does Acme India Industries IPO open? The Acme India Industries IPO opens on 2026-09-30 and closes on 2026-10-06.

What is the Acme India Industries IPO subscription status? The overall subscription is 1.72x.

Key IPO Information

ViewIPO AI Analysis Score

The Acme India Industries IPO scored 58/100 (High Risk) in our deep analysis.

Frequently Asked Questions

What does Acme India Industries Limited do?

Acme India Industries Limited is engaged in the design, manufacture and warranty maintenance of railway coach interiors, providing turnkey furnishing solutions for new railway coaches, refurbishment, upgradation and conversion of old coaches, and toilet facility upgrades. It also manufactures and supplies products such as Braille signage, fibre-reinforced plastic products, sanitary ware, epoxy flooring, toilet doors, intercommunication and compartment doors, seats and berths, fire barrier coatings, and hygiene-related products to Indian Railways.

What is the size of the Acme India Industries IPO and the price band?

The IPO issue size is ₹121.69 crore, with a price band of ₹186‑₹196 per share and a lot size of 600 shares.

What are the key risks associated with the company's dependence on Indian Railways?

The company's revenue is heavily dependent on Indian Railways, which contributed 88.0% of FY24 revenue and 46.8% of FY26 revenue. Any adverse change in Ministry of Railways policies, reduction in spending on railway coaches, withdrawal of programmes benefiting private companies, or reduction in orders from Indian Railways can adversely affect the company's business, financial condition and results of operations.

What is the company's order book as of June 30, 2026?

As of June 30, 2026, the company had an order book of ₹737.97 crore across 40 orders, comprising ₹346.28 crore from toilet upgradation, ₹229.09 crore from supplies to private clients, ₹67.36 crore from refurbishment, upgradation and conversion, ₹62.79 crore from turnkey furnishing, and ₹32.45 crore from supplies to Indian Railways.

How does the company mitigate supplier concentration risk?

The prospectus does not disclose specific mitigation measures for supplier concentration; it notes that the top 10 suppliers accounted for up to 76.9% of purchases in FY26 and that the company does not have long-term contracts with its raw material suppliers, which may affect timely availability of alternate supplies.

What are the intended uses of the IPO proceeds?

The prospectus excerpt does not specify the intended use of IPO proceeds; typical uses in such filings include funding working capital, repaying debt, and supporting growth initiatives, but exact allocation is not detailed in the provided text.

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Home›India›Acme India Industries ()
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Acme India IndustriesNSE SME / BSE SME:

Analyzed by ViewIPO Financial Research Team
Railway Rolling Stock ManufacturingIndiaFiled 2026-09-30Listing 2026-10-09Size ₹122.01Cr
Lot Size 600
Live GMP
₹30 (+15.31%)
Live Subscription
1.72x Total
Check Allotment
Status Link

Is Acme India Industries IPO Good? Quick Verdict

Acme India Industries IPO scored 58/100 (High Risk) in our deep analysis. The strongest pillar is Governance at 70/100, while Valuation is the primary concern at 50/100. Acme India Industries Limited demonstrates a solid foothold in the railway interior market with a robust order book and diversified offerings, yet its heavy reliance on Indian Railways, supplier concentration, and volatile operating cash flows present notable challenges.

IPO Score
58/100
High Risk

Quick Verdict

Established presence in Indian railway sector since 2017 with over 1,610 coaches furnished.
Diversified product portfolio including turnkey furnishing, refurbishment, and specialized components like Braille signage and epoxy flooring.
Strong order book of ₹737.97 crore as of June 30, 2026, providing revenue visibility.
Heavy dependence on Indian Railways, contributing 46.8% of FY26 revenue, exposing the company to policy and budget changes.
Negative operating cash flow in FY26 (₹11.5 crore) and FY24, indicating working capital pressures.

Company Snapshot

Revenue (TTM)
₹263.2Cr↑ 25.33% YoY
Profitability
—Pending Data
Gross Margin
— 
Market Cap
—Pending Data
IPO Size
₹122.01Cr 
Industry
Railway Rolling Stock Manufacturing 
P/E Ratio
—Pending Data

Risk Breakdown

Governance
70
Moderate
Financial
55
Expensive
Valuation
50
Expensive
Competition
50
Expensive
Dilution
60
Moderate
Promoter / Mgmt
60
Moderate

AI Summary

Acme India Industries Limited is engaged in the design, manufacture and warranty maintenance of railway coach interiors, providing turnkey furnishing solutions for new coaches and refurbishment of existing stock. The company operates a manufacturing unit in Sonipat, Haryana, and holds ISO 9001:2015 and ISO 15085 certifications. As of June 30, 2026, it had an order book of ₹737.97 crore and reported revenue of ₹263.2 crore in FY26, though its revenue remains heavily dependent on Indian Railways, which accounted for 46.8% of sales in that year. The IPO aims to raise ₹121.69 crore at a price band of ₹186‑₹196 per share.

Overall Verdict: Acme India Industries Limited demonstrates a solid foothold in the railway interior market with a robust order book and diversified offerings, yet its heavy reliance on Indian Railways, supplier concentration, and volatile operating cash flows present notable challenges.

Key Highlights

  • •Incorporated in 2021, the company has rapidly executed projects across 28 coach variants and 16 railway zones.
  • •Manufactures a wide range of railway interior products, including seats, berths, toilet doors, and fire barrier coatings.
  • •Holds ISO 9001:2015 and ISO 15085 certifications for quality and welding standards.
  • •As of June 30, 2026, the order book stood at ₹7,379.7 million (₹737.97 crore) across 40 orders.
  • •Collaborations with international partners from Russia, the USA, and Belgium for technology and joint ventures.
  • •Revenue heavily reliant on Indian Railways, which accounted for 88.0% of FY24 sales and 46.8% of FY26 sales.
  • •Reported negative operating cash flow of ₹11.5 crore in FY26 due to rising receivables and inventory.

Financial Performance

Revenue (Annual)

↑ +25.3% YoY

INR in Crores

Net Income (Annual)

Profitability

INR in Crores

Cash Flow vs Profit

↓ -148.0% YoY

INR in Crores

CF
NP

EBITDA vs PAT

EBITDA YoY

INR in Crores

EBITDA
PAT
Data not reported in RHP

IPO Timeline

IPO Opens2026-09-30
IPO Closes2026-10-06
Basis of Allotment2026-10-07
Refunds & Demat2026-10-08
Listing Date2026-10-09

Valuation Analysis

IPO Price₹186 - ₹196
Estimated Fair Value
Pending Data
Valuation Premium
Pending
vs Fair Value

IPO DNA

Growth
52
Governance
70
Profitability
55
Valuation
50
Competition
50
Execution
60

Pros vs Cons

Pros

  • Established track record in railway coach interior furnishing since 2017.
  • Diversified product and service offerings reducing reliance on single product line.
  • Strong order book of ₹737.97 crore providing medium-term revenue visibility.
  • ISO certifications indicating adherence to international quality and safety standards.
  • International collaborations enhancing technology capabilities and market access.

Cons

  • High customer concentration: Indian Railways contributed 88.0% of FY24 revenue and 46.8% of FY26 revenue.
  • Dependence on a limited supplier base, with top 10 suppliers accounting for up to 76.9% of purchases.
  • Negative operating cash flow in FY26 (₹11.5 crore) and FY24, reflecting working capital strain.
  • Outstanding contingent liabilities of ₹96.64 crore as of March 31, 2026.
  • Significant trade receivables of ₹252.18 crore as of March 31, 2026, increasing collection risk.

Financial Health

Revenue Growth
Revenue declined 0.3% in FY25 then grew 25.3% in FY26 (YoY) (Moderate)
Debt Level
Debt of ₹762.1 million (₹76.21 crore) as of June 30, 2026, representing ~28.8% of total assets (Excellent)

Institutional Signals

Anchor Investors
Undisclosed
Strategic Partners
High

Acme India Industries IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

Acme India Industries IPO — Frequently Asked Questions

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IPO Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to SaudaASBAOffer for Sale (OFS)
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Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

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Frequently Asked Questions about Acme India Industries

What is the expected listing price of Acme India Industries?

The expected listing price depends on the live Grey Market Premium. Check the live GMP and expected listing price for Acme India Industries on our Live GMP Tracker.