ACME Solar Holdings files for IPO worth Rs 30 billion

ACME Solar Holdings, renewable energy producer, has filed for a Rs 30 billion public issue. Around Rs 20 billion will be raised through issuance of fresh shares, while the founder entity ACME Cleantech Solutions intends to sell Rs 10 billion worth of shares in the IPO. The draft prospectus for the issue has been filed before market regulator SEBI for approval. Nuvama Wealth Management, ICICI Securities, JM Financial, Kotak Mahindra Capital, Motilal Oswal Investment Advisors are the managers of the IPO. The funds being raised via the fresh issuance will be used to repay some loans.