ACME Solar Holdings files IPO papers to raise Rs 2,200 crore

India Infoline News Service | Mumbai | September 29, 2017 18:47 IST

Renewable energy company ACME Solar Holdings announced on Friday that it has filed its preliminary IPO papers with SEBI.

Renewable energy company ACME Solar Holdings announced on Friday that the company has filed its preliminary papers with the market regulator SEBI in a bid to raise Rs 2,200 crore through an initial public offering, reported a leading news daily. 
  
The company will most likely utilise the funds raised through the issue to pay debt and also to finance the company's 200 MW solar power project in Rajasthan, among other general corporate usage.  

ACME Solar Holdings is also considering a pre-IPO placement of up to 52,22,079 equity shares to some investors for up to Rs 500 crore. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange. The IPO will be managed by ICICI Securities, Citigroup Global Markets India and Deutsche Equities India. 

ACME Solar Holdings is a leading solar power manufacturer in the country. The company has a portfolio of operational and under-construction projects with a capacity of 2,351 MW peak or 1,814 MW. 

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