Piramal Finance approves additional funding of Rs 7 billion to ACME

Piramal Finance, a subsidiary of Piramal Enterprises, has sanctioned an additional funding of Rs 7 billion to ACME Solar Holdings Limited through its Corporate Finance Group. The funds have been approved under a new product, “Flexi Line of Credit”, which is aimed at making a line of funding available to the borrower based on operational projects, and providing flexibility to draw and repay during the tenure. This is the second tranche of funding to ACME Solar Holdings. Prior to this, Piramal Finance, in partnership with APG, had provided a funding of Rs 4.99 billion to ACME.

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