ACME Solar Holdings Ltd plans to raise up to ₹3,000 crore through an infrastructure investment trust (InvIT) amid a prolonged delay in a planned initial share sale.
“Given our 100% shareholding from sponsor and no requirement of liquidity at secondary level to liquidate shareholding like a financial sponsor, we believe an investment trust would be an ideal platform for us to establish a vehicle, targeting long-term yield seeking investors,” Nikhil Dhingra, ACME Solar’s chief executive, said in an interview.
The company expects to raise around ₹2,500-₹3,000 crore through the InvIT, he said, adding the trust will likely include assets totaling 600-800 megawatts. The company is currently in discussions with potential bankers, he added. Read more