Secondary Issues
Renewable energy co. ACME Solar raises Rs.2,800-Cr through QIP
BSE Announcement Business World
Gurugram-based Acme Solar Holdings has raised INR 2,800 crore through a Qualified Institutional Placement (QIP) from domestic and international institutional investors, including SBI Mutual Fund, Nippon India Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, SBI Life Insurance, ICICI Prudential Life Insurance, BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority, and Pictet.ICICI Securities and IIFL Capital Services acted as the book-running lead managers. Shardul Amarchand Mangaldas & Co served as legal counsel to the firm, while Cyril Amarchand Mangaldas and Hogan Lovells advised the lead managers.The company plans to use the proceeds to reduce its leverage and strengthen its balance sheet to support capacity expansion.
Between Sep 2014 and Apr 2025, ACME Solar Holdings had attracted about $ 375 M from IFC, Impact Fund Denmark and others.For FY25, ACME Solar Holdings had reported about INR 132 Cr in Operating Income and about INR 12 Cr in Net Loss.
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