Acme India Industries IPO is an SME IPO raising ₹122 Cr at ₹186 – ₹196 a share. It listed on 9 Oct 2026 at ₹221, +12.8% against its issue price of ₹196, and trades at ₹183 today (−6.9% since issue). It was subscribed 116× in total.
115.5 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Read from the 379-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 386 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
Our business operations and revenues are entirely dependent on the Indian Railways... the total revenue from Indian Railways was ₹12,306.45 Lakhs, ₹19,222.62 Lakhs and ₹18,542.42 Lakhs respectively, which represents 46.77%, 91.54% and 88.00% respectively our total revenue.
A significant portion of our revenue is derived from turnkey furnishing work contracts, contributing 8.29%, 51.59%, and 58.52% of our total revenue from operations for the financial years ended March 31 2026, March 31 2025 and March 31 2024
Net cash flow from/ (used in) operating activities (A) (1,150.16) 2,397.28 (609.37)
outstanding trade receivables of ₹ 25,218.46 Lakhs, ₹15,822.19 lakhs and ₹15,377.09 lakhs, respectively, of which ₹ 4,353.85 lakhs, ₹986.95 lakhs and ₹936.18 lakhs respectively, represents due outstanding for more than six months
During the acquisition of M/s Acme India, certain assets belonging to the sole proprietorship of Mr. Suraj Pandey including GST credits, Fixed Deposit Receipts (FDRs), TDS receivables, and other similar assets amounting to ₹1,824.72 lakhs were transferred to the Company
Our Subsidiary Companies namely, ACVI Joint Venture Private Limited, ACME & Vibgyor JV Private Limited and ACME and Vibgyor MLR JV Private Limited holding 51.04%, 51.53% and 51.60 % of the equity, are engaged in the similar line of business
The Company has not placed orders of plant & machinery for our proposed object as specified in the Objects of the Offer. Any delay in placing orders, procurement of plant & machinery may delay our implementation schedule
Delay in payment of EPF for Period of Apr'2023-Jun'2026 ... Mar-24 ... 03-02-2025 ... 294 [days delay]
Total 9,463.66 7,559.85 2,903.81... Our Contingent liabilities as on March 31, 2026 was ₹9,298.17 lakhs... Civil Suit (Commercial) filed against the company and its Directors... alleging infringement of the Plaintiff copyright... rendition of accounts of profits and damages of ₹1.50 crore
Top 10 Suppliers 14,200.44 76.95% 10,036.27 66.88% 8,095.87 58.15%
The Company has identified certain discrepancies in its corporate records and e-forms filed with the Registrar of Companies ("ROC"), including clerical errors in the filing of ADT-1, MGT-7 and in the drafting of Board Reports.
October - March 23,979.92 91.13% 16,011.11 76.25% 17,497.56 81.98%
we have made an application dated September 18, 2024 under Class '12' under the Trademarks Act of 1999 to register our word trademark 'COACHES WITH STYLE AND SAFETY' which is at 'Objected' stage
As on March 31, 2026, our total outstanding indebtedness was ₹8,518.21 lakhs including secured and unsecured loans... Our Promoter and Promoter Group Members and Group Company has provided personal guarantees to secure a significant portion of our existing borrowings
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 2 | 6 | 10 | ₹21 Cr |
| Promoters | 0 | 13 | 3 | ₹20 Cr |
| Group companies | 0 | 1 | 1 | ₹0.0 Cr |
Income Tax AY 2022-23: ₹7,95,64,230 added under Section 68 as unexplained share capital from proprietorship conversion; appeal before CIT(A) filed May 15, 2024.
Suraj Pandey GST FY 2019-20: Rectification order dated Feb 4, 2025 confirming final demand of ₹6,81,10,144 (tax + penalty); certified copy of order applied for.
Income Tax AY 2024-25: CPC denial of Section 115BAA concessional regime; net demand ₹5,92.19 lakh after prepaid taxes; appeal before CIT(A) filed May 26, 2026.
Suraj Pandey GST FY 2018-19: Demand of ₹4,02,61,846 on alleged excess ITC from cancelled dealers/non-filers; appeal before Appellate Authority filed June 14, 2024.
Income Tax AY 2023-24 (ITAT): Company appeal against CIT(A) order sustaining ₹2.04 crore addition under Section 69C/115BBE for alleged bogus purchases; amount involved ₹2,67,98,740.
Amounts converted from stated ₹ lakhs (per tax tables) or rupees. 1 crore = 100 lakh. Promoters and Directors are disclosed jointly in Section B – counts and amounts reflect combined figures (no director-only litigation). The AY 2023-24 ITAT appeal is classified in Section A(f) as an action by the Company against a statutory authority and is included in the Company's 'other' count; the Company tax table on p282-283 explicitly states 6 cases / ₹1,469.15 lakhs and excludes this ITAT case by footnote. No subsidiary-level litigation disclosed. No single grand-total amount is stated in the text. Bucket 'amount_cr' is the sum of explicitly quantified amounts across criminal, tax and other for that party; cases with 'Amount Involved: –' are excluded from the sum.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
