ACME Solar Holdings gets Sebi's nod for IPO 26/12/2017

ACME Solar Holdings gets Sebi's nod for IPO

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ACME Solar Holdings has received Sebi's approval to launch initial public offerings, as per the latest update with markets regulator, reported PTI. The firm had filed its draft red herring prospectus (DRHP) with the regulator on September 28. ACME Solar Holdings "observations" from Securities and Exchange Board of India (Sebi) on December 15, which is necessary for any company to launch public offers. Going by the preliminary papers, renewable energy firm ACME Solar Holdings plans to raise Rs 2,200 crore through its initial public offer (IPO). Funds raised through the issue will 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 public issue.

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