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ACME Solar Holdings (ACME Solar) has successfully concluded its Rs 2,800 crore Qualified Institutions Placement (QIP), its first equity capital raise since listing in 2024.
The transaction garnered strong participation from a well-diversified mix of existing and new marquee investors, including leading domestic mutual funds, major insurance companies and foreign institutional investors including SBI Mutual Fund (MF), Nippon MF, HDFC MF, ICICI Prudential MF, Kotak MF, SBI Life Insurance, ICICI Prudential Life Insurance, BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority and Pictet, among others.
The proceeds from the QIP will be used to reduce leverage and enhance the overall balance sheet strength.
The renewable energy company said the issue attracted strong participation from a diversified group of domestic and global institutional investors. The investor roster included SBI Mutual Fund, Nippon India Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, SBI Life Insurance, ICICI Prudential Life Insurance, BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority and Pictet, among others.
Nippon India and HDFC group funds emerged as the largest allottees, each accounting for 20.54% of the issue size. SBI-managed schemes and insurance entities were allotted 18.39% of the issue, while ICICI Prudential funds received 8.39%, SBI Life Insurance was allotted 8.57%, and Kotak group funds accounted for 7.14%.
The proceeds from the QIP will primarily be used to reduce debt and strengthen the company's balance sheet.
ACME Solar Holdings is an integrated renewable energy company with an aggregated contracted capacity of 8,070 MW. The company develops, builds, owns, operates and maintains utility-scale renewable energy projects and generates long-term revenue through fixed-tariff power purchase agreements with central and state government-backed entities and other off-takers.
The company’s consolidated net profit jumped 12.93% to Rs 139.31 crore in Q4 FY26, compared with Rs 123.36 crore in Q4 FY25. Revenue from operations increased 12.52% YoY to Rs 547.85 crore in Q4 FY26.
Concord Biotech Ltd, ACME Solar Holdings Ltd, Sky Gold & Diamonds Ltd and Tata Consultancy Services Ltd are among the other gainers in the BSE's 'A' group today, 02 June 2026.
Newgen Software Technologies Ltd spiked 10.02% to Rs 486.6 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 3.96 lakh shares were traded on the counter so far as against the average daily volumes of 91611 shares in the past one month.
Concord Biotech Ltd surged 8.98% to Rs 1155.8. The stock was the second biggest gainer in 'A' group. On the BSE, 21773 shares were traded on the counter so far as against the average daily volumes of 10934 shares in the past one month.
ACME Solar Holdings Ltd soared 7.59% to Rs 330.2. The stock was the third biggest gainer in 'A' group. On the BSE, 3.35 lakh shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past one month.
Sky Gold & Diamonds Ltd added 6.49% to Rs 556.85. The stock was the fourth biggest gainer in 'A' group. On the BSE, 1.49 lakh shares were traded on the counter so far as against the average daily volumes of 1.22 lakh shares in the past one month.
Tata Consultancy Services Ltd spurt 6.46% to Rs 2446.45. The stock was the fifth biggest gainer in 'A' group. On the BSE, 4.53 lakh shares were traded on the counter so far as against the average daily volumes of 2.63 lakh shares in the past one month.
The floor price of Rs 294.13 is at a discount of 4.16% to the scrip’s previous closing price of Rs 306.90 on the BSE.
The company may offer a discount of up to 5% on the floor price determined for the issue at its discretion.
In a separate development, the company through its wholly owned subsidiary, ACME Sun Power, has commissioned 33.333 MW/160.512 MWh capacity of Battery Energy Storage System (BESS) project located at Village: Badi Sid, Rajasthan, on June 01, 2026. The commercial operation date (COD) for the project has been fixed as June 03, 2026.
Following the latest commissioning ACME Sun Power has achieved a commissioned capacity of 266.669 MW / 1283.936 MWh.
ACME Solar Holdings is an integrated renewable energy company with a diversified portfolio across solar, wind, storage, hybrid and firm and dispatchable renewable energy (FDRE) projects. Backed by in-house EPC and O&M capabilities, the company executes projects end-to-end, enabling timely delivery, cost efficiency and strong operating performance.
The counter hit all-time high at Rs 333.50 in intraday today.
ACME Solar Holdings (ACME Solar) through its subsidiary ACME Renewtech Sixth, has signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI), a AAA-rated Central Government enterprise, for 300 MW / 1,200 MWh ISTS-connected assured peak power capacity.
This FDRE project will be connected to ISTS substations and will utilize ACME Solar's existing night-time connectivity available at high irradiation zones. Under the PPA, , ACME Solar will supply 4 hours of assured peak power only during non-solar hours with minimum annual availability requirement of 85%.
The project was awarded to ACME Solar under SECI's FDRE Tranche-VII tender, pursuant to the Letter of Award (LOA) dated February 10, 2026. The tender was issued under Tariff-Based Competitive Bidding (TBCB) guidelines, with the e-reverse auction conducted on February 02, 2026.
With this, out of the total contracted portfolio of 8,070 MW, PPA-signed portfolio stands at 6,570 MW.
The board has approved the appointment of Arun Chopra as the Chief Financial Officer, designated as the Key Managerial Personnel and Senior Management Personnel with effect from 08 May 08 2026.
Further, the board has took note of the elevation of existing senior management personnels, to non-board positions, Purushottam Kejriwal as Director-Project Finance and Ankit Verma as Director-Corporate Finance & Investor Relations.
For the full year,net profit rose 97.90% to Rs 498.92 crore in the year ended March 2026 as against Rs 252.11 crore during the previous year ended March 2025. Sales rose 43.97% to Rs 2022.96 crore in the year ended March 2026 as against Rs 1405.13 crore during the previous year ended March 2025.
ACME Solar Holdings (ACME Solar) has cumulatively operationalized more than 2 GWh BESS capacity in Rajasthan. The company is among the first Indian renewable energy companies to achieve this scale of energy storage deployment.
With this, the company's total operational BESS capacity cumulatively stands at 591.18 MW / 2031.24 MWh across various subsidiaries in Rajasthan.
Overall, the company plans to operationalise 10 GWh of BESS by 2027. These BESS projects are designed to enhance grid reliability and optimise power utilisation by charging batteries during non-peak demand periods and discharging during peak demand periods. This capability will play a critical role in balancing energy supply and demand while improving the overall grid stability.
The projects are aimed at improving grid stability by storing power during off-peak periods and supplying it during peak demand.
The company plans to scale up its BESS capacity to 10 GWh by 2027.
ACME Solar has a total portfolio of 8,071 MW across solar, wind, storage and hybrid projects, with 2,990 MW operational and 5,081 MW under construction.
The company’s consolidated net profit rose 1.47% to Rs 113.71 crore on a 42.3% jump in net sales to Rs 496.62 crore in Q3 FY26 over Q3 FY25.
Earlier this month, a foreign brokerage initiated coverage on ACME Solar Holdings with a ‘Buy’ rating and a target price of Rs 350. The brokerage said the company is well placed to benefit from a strong project pipeline, ongoing capacity expansion and improving earnings visibility as execution picks up. It also cited supportive policy measures and rising solar auction activity as key growth drivers, adding that the current valuation does not fully reflect the company’s growth prospects or improving financial profile.