Acme Solar Holdings, a renewable energy company, has refiled draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (Sebi) for its initial public offering (IPO) which includes a fresh issue of ₹2,000 crore and an offer for sale of up to ₹1,000 crore.
For the year ended March 31, 2024, Acme reported a consolidated profit after tax of ₹698.2 crore and consolidated revenue from operations of ₹1,319.2 crore. The company plans to use ₹1,500 crore from the issue proceeds for the repayment of outstanding borrowings, with the remainder allocated for general corporate purposes.
Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital, and Motilal Oswal Investment Advisors are the bankers for the issue.
Acme’s portfolio encompasses solar, wind, hybrid and firm and dispatchable renewable energy projects. The company develops, builds, owns, operates, and maintains renewable energy projects, generating revenue by selling electricity to various off-takers, including central and state government-backed entities.
