ACME Solar Raises INR 2,800 Crore Through Qualified Institutions Placement
ACME Solar has concluded its INR 2,800 crore Qualified Institutions Placement (QIP), attracting strong participation from domestic and global institutional investors. The proceeds are earmarked for debt reduction and strengthening the company's balance sheet.
June 05, 2026. By Mrinmoy Dey
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, stated ACME Solar.
ICICI Securities and IIFL Capital Services acted as the Book Running Lead Managers to the QIP. Shardul Amarchand Mangaldas and 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.
ACME Solar has an aggregated contracted capacity of 8,070 MW. It 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, and generates stable, long-term revenue through fixed-tariff power purchase agreements for the sale of electricity to various off-takers, including central and state government-backed entities, stated the company.
please contact: contact@energetica-india.net.
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