Web Exclusive | September 2018
ACME Solar Holding to raise up to Rs 30 billion through InvIT
Through an infrastructure investment trust (InvIT), ACME Solar Holdings plans on raising up to Rs 30 billion amid a prolonged delay in a planned initial share sale. The company is currently in discussions with potential bankers. A successful completion of this will make ACME Solar Holdings the first renewable energy producer in the country.
Given the company’s 100 per cent shareholding from sponsor and no requirement of liquidity at the secondary level to liquidate shareholding like a financial sponsor, ACME believes that this inverters trust would be an ideal platform for them to establish a vehicle and target long-term yield seeking investors