Renewable Energy Firm Acme Solar Files For $335 Mn IPO

Renewable Energy Firm Acme Solar Files For $335 Mn IPO

Renewable energy firm ACME Group has filed a draft proposal with the Securities and Exchange Board of India to take its solar power arm public through an initial public offering.

Gurgaon-based ACME Solar Holdings Ltd plans to issue shares worth Rs 2,200 crore ($335 million) to pay debt and financing a power project, according to the draft red herring prospectus.

The company was previously contemplating a public offering through an infrastructure investment trust (InvIT), but chose the IPO anticipating weak investor sentiment for the new alternative. Read More…

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