en.Wedoany.com Reported - ACME Solar Holdings Ltd has completed a qualified institutional placement (QIP) of Rs 28 billion, marking its first equity fundraising since its listing in 2024. The proceeds will be used to reduce leverage and strengthen the overall balance sheet.

The placement attracted broad participation from a range of existing and new prominent investors, including leading domestic mutual funds such as SBI Mutual Fund (MF), Nippon MF, HDFC MF, ICICI Prudential MF, and Kotak MF; major insurance companies like SBI Life Insurance and ICICI Prudential Life Insurance; as well as foreign institutional investors including BlackRock, Amundi, Goldman Sachs, the Abu Dhabi Investment Authority, and Pictet.

ICICI Securities and IIFL Capital Services served as the book-running lead managers for the QIP, with Shardul Amarchand Mangaldas & Co acting as legal counsel to the company, and Cyril Amarchand Mangaldas and Hogan Lovells serving as legal counsel to the book-running lead managers.

ACME Solar Holdings is an integrated renewable energy company with a total contracted capacity of 8,070 MW. The company develops, builds, owns, operates, and maintains utility-scale renewable energy projects through its in-house engineering, procurement, and construction division, as well as its operations and maintenance team. It generates long-term revenue by selling electricity to various off-takers, including central and state government-backed entities, under fixed-tariff power purchase agreements (PPAs).

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