ACME Solar Holdings successfully concludes QIP issue of Rs 2,800 cr

ACME Solar Holdings (ACME Solar) has successfully concluded its Rs 2,800 crore Qualified Institutions Placement (QIP), its first equity capital raise since listing in 2024.

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. 

The proceeds from the QIP will be used to reduce leverage and enhance the overall balance sheet strength.