ACME Solar Holdings Limited has completed a qualified institutional placement (QIP) worth Rs 28 billion. The issue received strong interest from a broad group of domestic and international institutional investors, including mutual funds, insurance companies, and foreign institutional investors. The proceeds from the QIP will reportedly be used to reduce leverage and improve balance sheet strength.
The key participants included SBI Mutual Fund, Nippon Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, SBI Life Insurance, ICICI Prudential Life Insurance, BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority, and Pictet. Additionally, ICICI Securities Limited and IIFL Capital Services Limited acted as the book running lead managers for the transaction.
Earlier, in May 2026, ACME Solar Holdings Limited, through its subsidiary ACME Renewtech Sixth Private Limited, entered into a 25-year power purchase agreement with Solar Energy Corporation of India Limited. The agreement was for a 300 MW/1,200 MWh interstate transmission system connected to an assured peak power capacity.
