Cyril Amarchand Mangaldas (CAM), Hogan Lovells and Shardul Amarchand Mangaldas & Co (SAM) have advised on renewable energy company ACME Solar Holdings’ USD296.3 million qualified institutional placement (QIP).
“It is encouraging to support a home-grown renewable energy player who has rapidly diversified from being a solar-focused independent power producer (IPP) to a broader integrated renewable energy company,” said Vishal Yaduvanshi, partner and regional co-head of capital markets at CAM.
“The timelines as well as the scale of the group (with 80-odd subsidiaries) provided unique complexities. Additionally, the exchanges have guided the inclusion of the objects section. specified objects should not be added again in the general corporate purpose objects.”
Partners Manan Lahoty, Vishal Yaduvanshi and Puneet Passi led the CAM transaction team acting for the placement agents comprising ICICI Securities and IIFL Capital Services. Senior associate Rishi Nandkeolyar, and associates Arjun Badola, Ritvik Maheshwari, Vatsala Parashar, Abhirup Manna, and Naman Kulshrestha assisted the team.
Shardul Amarchand Mangaldas counselled Acme Solar. Hogan Lovells (Middle East) LLP acted as international legal counsel to the book-running lead managers.
Hogan Lovells acted as international counsel to ICICI Securities and IIFL Capital Services.
The Hogan Lovells capital markets team was led by Biswajit Chatterjee, head of the India practice and Dubai office managing partner, with the support of counsel Varun Jetly and associate Sanjana Ravjiani.
This is ACME Solar’s first equity capital fundraise since its 2024 IPO. ACME Solar is one of 含羞草社区 leading renewable energy companies, with a diversified portfolio comprising solar, wind, battery energy storage systems, hybrid projects, and firm and dispatchable renewable energy projects.
As of 31 March 2026, it ranked among the largest independent power producers of renewable energy in India and was one of the country’s top 10 renewable energy players by total capacity, including both operational and under-construction projects.
