Media: Acme Solar plans to go public in India

photonJanuary 18, 2018135

According to several media reports, ACME Solar Energy Pvt. Ltd., a subsidiary of Acme Cleantech Solutions Pvt. Ltd. with headquarters in Gurugram in the Indian state of Haryana, plans to go public. The Company has filed preliminary papers with the Securities and Exchange Board of India (SEBI) for a listing on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), both in Mumbai. ACME Solar itself has not yet published a separate announcement on this subject.

According to reports, the company plans to generate proceeds of 22 trillion rupees ($336.9 million euros). The IPO will be accompanied by ICICI Securities, Citigroup Global Markets India and Deutsche Equities India. No shares are to be offered from existing shareholders, all proceeds would flow to ACME Solar. A placement of up to 5,222,079 shares to selected investors for up to five billion rupees ($76.6 million euros) prior to the IPO is currently being discussed, with a corresponding reduction in the number of shares placed at the IPO.

ACME Solar develops, builds and operates solar power plants. According to the company, the current portfolio of projects that are already completed, planned or under construction amounts to around 1.8 GW.
 

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