ACME Solar files IPO papers with Sebi to raise Rs 2,200-cr

Renewable energy firm ACME Solar Holdings has filed preliminary papers with Sebi to raise Rs 2,200 crore through an initial public offering, according to draft papers filed with the markets regulator.

Funds raised through the issue would be used to pay debt and to finance the company's 200 MW solar power project in Rajasthan and for other general corporate purposes.

Besides, the company is considering a pre-IPO placement of up to 52,22,079 equity shares to certain investors for up to Rs 500 crore.

ICICI Securities, Citigroup Global Markets India and Deutsche Equities India will manage the company's initial public offer (IPO).

The equity shares are proposed to be listed on BSE and National Stock Exchange (NSE).

ACME Solar, a leading solar power producer in the country, has a portfolio of operational and under-construction projects with a capacity of 2,351 MW peak or 1,814 MW.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)