Wed Nov 06 05:18:32 UTC 2024: ## ACME Solar Raises Rs 1,300 Crore in Anchor Investor Round Ahead of IPO

**Gurugram, India** – ACME Solar Holdings, a leading renewable energy producer in India, has successfully raised Rs 1,300.5 crore from anchor investors ahead of its upcoming Initial Public Offering (IPO). The IPO, valued at Rs 2,900 crore, will open for subscription on November 6th and close on November 8th, with a price band of Rs 275-289 per share.

The anchor investor round saw participation from prominent institutional investors, including Abu Dhabi Investment Authority, Goldman Sachs, Morgan Stanley, Nomura, Societe Generale, HSBC Global, BNP Paribas Funds, and several others. Domestic players like Nippon Life India, HDFC Mutual Fund, ICICI Prudential MF, and Tata Mutual Fund also invested in the company.

ACME Solar, established in 2015, currently operates 1,340 MW of renewable energy projects and has an additional 3,250 MW under construction. The company plans to utilize Rs 1,795 crore from the fresh issue proceeds to repay subsidiary debt, with the remaining funds allocated for general corporate purposes.

The IPO, which is set to debut on the bourses on November 13th, has garnered significant interest in the grey market, with shares trading at a premium of 5-7% above the upper price band.

ACME Solar’s successful anchor investor round and strong grey market performance indicate a positive outlook for the company’s IPO. The listing is expected to attract further investor interest in the renewable energy sector.

Read More