ACME Solar Submits Draft Red Herring Prospectus to SEBI

0
261

ACME Solar has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an IPO valued at Rs 30 billion, with each share priced at Rs 2. The planned IPO includes a fresh issue of shares worth up to Rs 20 billion and an offer for sale totaling up to Rs 10 billion. The company might also consider a pre-IPO placement of up to Rs 4 billion, which would decrease the size of the fresh issue. ACME Solar intends to allocate Rs 15 billion from the net proceeds to repay or prepay certain outstanding borrowings of its subsidiaries, with the remaining funds designated for general corporate purposes.

As of March 31, 2024, ACME Solar had a portfolio of 13.2 GW of operational solar power projects. Additionally, the company had 1.65 GW of projects currently under construction and another 2.38 GW of awarded projects in different phases of development, spanning solar, wind, hybrid, and firm and dispatchable clean energy projects.

Previous articleFoundation Stone Laid for 10 MW Solar Project by Himachal Pradesh Government
Next articleChina Three Gorges Renewables Unveils 18 GW Energy Project in Inner Mongolia

LEAVE A REPLY

Please enter your comment!
Please enter your name here