Mon Nov 04 05:00:00 UTC 2024: ## ACME Solar IPO to Raise Funds for Renewable Energy Expansion

**Gurugram, India** – ACME Solar, a leading renewable energy company, is set to launch its initial public offering (IPO) to fuel further growth. The company, with a diverse portfolio of solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects, is looking to raise capital for expanding its operations.

ACME Solar has a strong track record with over 2,719 MW of solar power projects commissioned since its inception. Currently, the company operates 1,320 MW of solar power projects and has an additional 1,650 MW under construction. This includes both solar and wind power projects. The company also boasts an awarded project pipeline of 2,380 MW, comprising solar, hybrid, and FDRE power projects.

In a notable development, ACME Cleantech, a subsidiary of ACME Solar, has signed an MoU with the Uttar Pradesh government to develop a 600 MW closed-loop pump storage project in the state.

The IPO will see a 75% allocation for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 10% for retail investors. The company plans to utilize the proceeds to fund its ambitious renewable energy expansion plans.

Investors can apply for the IPO through various methods including internet banking, UPI, and offline IPO forms.

**ACME Solar’s IPO is a significant event for the Indian renewable energy sector, showcasing the growing investor confidence in the clean energy transition. The IPO is expected to further boost ACME Solar’s position as a key player in the renewable energy space.**

**Disclaimer:** This article is based on publicly available information and should not be construed as investment advice. Please consult with a financial advisor for any investment decisions.

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