ACME Solar successfully completes INR 2,800 Crore Qualified Institutional Placement

ACME Solar Holdings Ltd (ACME Solar) has successfully concluded its INR 2,800 crore Qualified Institutions Placement (QIP), its first equity capital raise since listing in 2024.

The transaction garnered strong participation from a well-diversified mix of existing and new marquee investors, including leading domestic mutual funds, major insurance companies and foreign institutional investors including 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, among others.

This reflects deep investor conviction in the Company's execution capabilities and visible capacity expansion pipeline. The proceeds from the QIP will be used to reduce leverage and enhance the overall balance sheet strength.

ICICI Securities Limited and IIFL Capital Services Limited acted as the Book Running Lead Managers to the QIP. Shardul Amarchand Mangaldas & Co was the Legal Counsel to the Company while Cyril Amarchand Mangaldas and Hogan Lovells were the Legal Counsels to the Book Running Lead Managers.

Shares of ACME Solar Holdings Limited was last trading in BSE at Rs. 356.25 as compared to the previous close of Rs. 346.15. The total number of shares traded during the day was 911188 in over 20436 trades.

The stock hit an intraday high of Rs. 359.95 and intraday low of 340.10. The net turnover during the day was Rs. 321055678.00.

Source : Equity Bulls

Keywords

ACMESolarHoldings INE622W01025 FundRaising QIP