We are a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (“FDRE”) projects. We are one of the largest renewable energy independent power producers (“IPP”) in India and among the top 10 renewable energy players in India in terms of operational capacity as of March 31, 2024 (Source: CRISIL Report) and over the years, we have diversified and expanded our portfolio from solar power projects to become an integrated renewable energy company in India.
We develop, build, own, operate and maintain utility scale renewable energy projects (through our in-house engineering, procurement and construction (“EPC”) division and operation and maintenance (“O&M”) team, and generate revenue through the sale of electricity to various off-takers including central and state government-backed entities. Our Company was established in 2015 to consolidate the ACME Group’s renewable energy business and to capitalize on the opportunities in the Indian renewable energy industry.
The ACME Group is promoted by Manoj Kumar Upadhyay and ACME Cleantech was incorporated in 2003. It originally operated as a provider of energy management solutions to wireless telecommunications operators in India and subsequently entered into the renewable energy generation business in 2009. The ACME Group has been one of the early entrants in the solar IPP business in India (Source: CRISIL Report) and commissioned its first solar power plant in Fiscal 2012. The ACME Group has a track record of developing, executing and commissioning a total of 2,719 MW (3,668 MWp) of solar power projects from inception until the date of this Draft Red Herring Prospectus.
We have an aggregate Operational Project capacity of 1,320 MW (1,802 MWp) solar power projects; Under Construction Contracted Project capacity of 1,650 MW including solar power projects of 1,500 MW (2,192 MWp) and wind power projects of 150 MW; and Under Construction Awarded Project capacity of 2,380 MW comprising 300 MW of solar power projects, 830 MW hybrid power projects and 1,250 MW of FDRE power projects, as of March 31, 2024.
Subsequently, in May 2024, we signed power purchase agreements for two of our under construction awarded FDRE projects with an aggregate capacity of 570 MW taking our Under Construction Contracted Project capacity to 2,220 MW, as of the date of this Draft Red Herring Prospectus.
Note: The actual amount will be debited when the shares are allotted to you.
Note: The actual amount will be debited when the shares are allotted to you.
An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.
Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.
In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.
In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).
Yes. IPO & Bonds will reflect in the portfolio.
In case the allotment is not done then bank will unblock the application money from the bank accounts upon receiving instructions from the Registrar.
Bidding time will be till 1200 hrs on the closing day of the issue.
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