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The board of ACME Solar Holdings has given its nod to a proposal to raise up to INR 3,000 crore in a phased manner. The capital will be raised through the issuance of various equity-linked instruments, including qualified institutional placement (QIP) or a further public offer (FPO), to support the company's ongoing and future projects. The decision, which is subject to shareholder approval at the upcoming AGM on September 29, 2025, positions ACME to capitalize on the increasing demand for clean energy and accelerate the execution of its substantial project pipeline in solar, wind, and hybrid energy solutions.
In a strategic move to fuel its expansion plans, the board of ACME Solar Holdings has approved a proposal to raise an aggregate amount not exceeding INR 3,000 crore. The fund-raising initiative will be conducted in one or more tranches through a variety of permissible modes, including a QIP, FPO, or a private placement, subject to regulatory and shareholder approvals. This substantial capital infusion is expected to provide the company with the necessary resources to accelerate its growth in India's booming renewable energy sector. Advertisement
The company has a diversified portfolio that includes solar, wind, and hybrid energy projects, with a total operational and contracted capacity of 6.97 GW. The new funds are expected to support the execution of its extensive project pipeline, which includes the development of its 1.2 GW solar PV module facility in Rajasthan, as well as pioneering projects in green hydrogen and green ammonia in locations like Oman and Odisha. This financial boost will enable ACME to reduce its reliance on external financing for project development and enhance its market position.
In addition to the fund-raising plan, the board also approved the re-appointment of Shashi Shekhar as Vice-Chairman and Whole-Time Director for another year, effective April 9, 2026. Shekhar, a former IAS officer with an extensive background in government and corporate leadership, has been a key figure at ACME since 2018. His continued leadership and expertise in administration and strategic initiatives are seen as crucial for the company's long-term growth and stability, reinforcing its commitment to its ongoing projects and expansion goals.
Source- PTI
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