Shardul Amarchand Mangaldas & Co has guided ACME Solar Holdings on its Qualified Institutional Placement aggregating to approximately INR 2,800 crore. Cyril Amarchand Mangaldas advised the placement agents, ICICI Securities and IIFL Capital Services on this transaction. Hogan Lovells acted as the international counsel to the book running lead managers on this transaction.
This is ACME Solar Holdings’ first equity capital raise since listing in 2024.
The transaction garnered strong participation from existing and new marquee investors including SBI Mutual Fund (MF), Nippon MF, HDFC MF, ICICI Prudential MF, Kotak MF, SBI Life Insurance, ICICI Prudential Life Insurance, BlackRock, Amundi, Goldman Sachs, Abu Dhabi Investment Authority and Pictet, among others.
ACME Solar Holdings is a renewable energy company in India with a portfolio of solar, wind, battery energy storage system, hybrid and firm and dispatchable renewable energy projects.
It is one of the largest renewable energy independent power producers in India and among the top 10 renewable energy players in India in terms of total capacity (including operational and under construction capacity) as of March 31, 2026.
SAM’s transaction team was led by partner and national practice head – capital markets Prashant Gupta, and partner Sayantan Dutta, along with principal associate Romit Raja Srivastava, senior associate Shivang Agarwal and associates Aishwariya Chaturvedi and Dipti Tharwani.
CAM’s transaction was led by partner – (head – capital markets) Manan Lahoty, partner (regional co-head – capital markets – north) Vishal Yaduvanshi, and partner Puneet Passi, with assistance from senior associate Rishi Nandkeolyar, and associates Arjun Badola, Ritvik Maheshwari, Vatsala Parashar, Abhirup Manna, and Naman Kulshrestha.
Hogan Lovells team included head of the India practice and Dubai office managing partner Biswajit Chatterjee, with support from counsel Varun Jetly and associate Sanjana Ravjiani.
