ACME Solar raises INR 2,800 crore via QIP to reduce leverage and strengthen balance sheet

Type: Financing · Technology: Solar · Country: India · Value: INR 336M · Announced: 2026-06-05

ACME Solar Holdings Ltd successfully raised INR 2,800 crore (approximately $335 million) through a qualified institutions placement (QIP), marking its first equity capital raise since listing in 2024. The transaction attracted participation from a diversified group of investors, including domestic mutual funds (SBI MF, Nippon MF, HDFC MF, ICICI Prudential MF, Kotak MF), insurance companies (SBI Life, ICICI Prudential Life), and foreign institutional investors (BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority, Pictet). The proceeds will be deployed to reduce leverage and strengthen the company's balance sheet, supporting its ongoing capacity expansion initiatives. ICICI Securities and IIFL Capital Services served as the book-running lead managers for the QIP, while Shardul Amarchand Mangaldas & Co provided legal counsel to ACME Solar. Cyril Amarchand Mangaldas and Hogan Lovells acted as legal counsels to the book-running lead managers. ACME Solar, an integrated renewable energy player, operates with an aggregated contracted capacity of 8,070 MW across utility-scale projects developed, built, owned, operated, and maintained in-house.

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