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Renewable energy company ACME Solar Holdings has raised INR 2,800 crore through a Qualified Institutions Placement (QIP), marking its first equity capital raise since its stock market listing in 2024. The fundraising attracted participation from a broad range of domestic and international institutional investors, including mutual funds, insurance companies and foreign institutional investors. According to the company, the capital will be utilised to reduce debt and strengthen its balance sheet. The transaction was managed by ICICI Securities and IIFL Capital Services as Book Running Lead Managers. ACME Solar currently has an aggregated contracted renewable energy capacity of 8,070 MW, positioning the fundraising as a significant balance sheet exercise for the clean energy developer.
ACME Solar Holdings Ltd has raised INR 2,800 crore through a Qualified Institutions Placement (QIP), its first equity fundraising exercise since the company was listed in 2024. The capital raise was announced on Friday and is aimed at reducing leverage and strengthening the company's overall financial position as it continues to expand its renewable energy portfolio.
The renewable energy developer stated that the QIP received strong interest from both existing shareholders and new institutional investors. The fundraising saw participation from a mix of domestic mutual funds, insurance companies and foreign institutional investors, reflecting continued investor appetite for India's renewable energy sector.
Among the domestic investors that participated in the issue were SBI Mutual Fund, Nippon Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund and Kotak Mutual Fund. Major insurance companies, including SBI Life Insurance and ICICI Prudential Life Insurance, also subscribed to the offering.
The issue additionally attracted several prominent global investors. Foreign institutional participants included BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority and Pictet, among others.
According to the company, the proceeds from the QIP will primarily be used to reduce debt levels and reinforce the balance sheet. The move is expected to improve the company's financial flexibility and support its long-term growth plans in the renewable energy sector.
Qualified Institutions Placements have increasingly become a preferred fundraising route for listed companies seeking capital from institutional investors while maintaining operational momentum. For renewable energy developers, strengthening balance sheets has remained a key focus amid rising project pipelines and capital requirements associated with large-scale clean energy deployment.
ICICI Securities Ltd and IIFL Capital Services Ltd acted as the Book Running Lead Managers for the transaction, overseeing the execution of the QIP.
ACME Solar Holdings is an integrated renewable energy company with an aggregated contracted capacity of 8,070 MW across its portfolio. The company operates in the utility-scale renewable energy segment and has been expanding its presence in India's clean energy market through solar and other renewable power projects.
The successful completion of the QIP provides the company with fresh equity capital while broadening its institutional shareholder base, as it continues to pursue growth opportunities in the country's expanding renewable energy sector.
Source - PTI
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