ACME Solar Completes INR 2,800 Crore Qualified Institutional Placement
ACME Solar Holdings Ltd has successfully concluded its INR 2,800 crore Qualified Institutional Placement (QIP). This transaction marks the company’s first equity capital raise since it listed in 2024.The QIP attracted strong participation from a diverse group of investors. The participants included leading domestic mutual funds and major insurance companies, as well as several foreign institutional investors. Noted investors involved include SBI Mutual Fund (MF), Nippon MF, HDFC MF, ICICI Prudential MF, Kotak MF, SBI Life Insurance, ICICI Prudential Life Insurance, BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority, and Pictet.
The successful capital infusion reflects significant investor conviction in ACME Solar’s execution capabilities and its visible capacity expansion pipeline. The proceeds raised from the QIP are designated to reduce leverage and strengthen the company’s overall balance sheet.
Transaction Details and Expertise
ICICI Securities Limited and IIFL Capital Services Limited acted as the Book Running Lead Managers for the QIP. Shardul Amarchand Mangaldas & Co served as the Legal Counsel to ACME Solar, while Cyril Amarchand Mangaldas and Hogan Lovells provided legal counsel to the Book Running Lead Managers.
About ACME Solar Holdings Limited
ACME Solar is described as a leading integrated renewable energy player. The company has an aggregated contracted capacity of 8,070 MW.
ACME Solar develops, builds, owns, operates, and maintains utility scale renewable energy projects through its in-house engineering, procurement and construction division and operation and maintenance team. It generates stable, long-term revenue by utilizing fixed-tariff power purchase agreements for the sale of electricity to various off-takers, including central and state government-backed entities.
ACMESOLAR Stock Price Movement
On Thursday, shares of Acme Solar Holdings Limited surged, settling at ₹345.85 after gaining 4.92% in the market session. The equity achieved its 52-week high amidst strong momentum, with approximately 4.61 million shares traded as the stock posted substantial gains.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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