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FINWIRES

ACME Solar Raises INR28 Billion Through QIP

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ACME Solar Holdings (NSE:ACMESOLAR, BOM:544283) raised about 28 billion rupees through a qualified institutional placement, which closed on June 4, according to a same-day filing on Indian bourses.

Shares of the company jumped nearly 4% in early trade on Friday.

The company issued around 100.2 million equity shares to eligible investors at 279.50 rupees apiece, reflecting a discount of 4.97% to the floor price of 294.13 rupees per share, the filing said.

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