Acme Solar Files for IPO on Indian Stock Exchange

• Acme Solar shines bright with IPO filing on BSE, aiming to raise INR 30 billion for expansion and debt repayment.

Indian renewables firm Acme Solar, with 1,320 MW of operational capacity, has filed for an IPO on the Bombay Stock Exchange, aiming to raise INR 30 billion. The company plans to sell INR 20 billion in new shares, with its largest shareholder offering INR 10 billion in existing units.

Acme Solar has received approvals from both the BSE and NSE for the listing of its shares, with underwriters including Nuvama, ICICI Securities, JM Financial, Kotak, and Motilal Oswal. The proceeds from the IPO will be used for debt repayment and general corporate purposes, as the company looks to expand its portfolio of renewable energy projects.

What is Acme Solar's IPO strategy and use of proceeds?

• Acme Solar's IPO strategy includes raising INR 30 billion on the Bombay Stock Exchange.
• The company plans to sell INR 20 billion in new shares, with its largest shareholder offering INR 10 billion in existing units.
  
• Acme Solar has received approvals from both the BSE and NSE for the listing of its shares.
  
• Underwriters for the IPO include Nuvama, ICICI Securities, JM Financial, Kotak, and Motilal Oswal.
  
• The proceeds from the IPO will be used for debt repayment and general corporate purposes.
• Acme Solar aims to use the funds to expand its portfolio of renewable energy projects.