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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