ACME Group looking to raise capital by listing solar assets through InvIT

ACME Group looking to raise capital by listing solar assets through InvIT

Delhi-based renewable energy and telecom solutions company ACME Group is planning to raise capital by listing its solar assets through infrastructure investment trust (InvIT) listing, said three people directly familiar with the matter.

“The company was previously contemplating raising capital through an initial public offering (IPO), with the increase in investor interest in InvITs it has now changed its plans and looking to raise money through this route,” said the first person mentioned above.

As InvITs garner interest from global investors, renewable energy firms are also lining up to raise capital through this route. This would be the first time a renewable energy company would come to the market to raise capital.

“They have been talking of raising over $200 million through an equity stake sale process, although the numbers aren’t concrete yet. They want to provide an exit to its existing investors and they are planning to launch their issue in FY18,” said the second person mentioned above. Read More…

 

 

Credit By: ET Energy World

Leave a Reply

Your email address will not be published.